$1.87 Billion Green Lending Grant Program Open for Credit Unions: Deadline Dec. 18

Posted by Alyse Knudsen on December 11, 2024

Credit unions are invited to submit a pre-qualification form for the Inclusiv Center for Resiliency and Clean Energy’s new Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) green lending grant program.  

Credit unions should submit the form by Wednesday, Dec. 18, 2024, at 2 p.m. PT / 3 p.m. MT. This is the first step in the grantmaking process for this $1.87 billion program. Future pre-qualification rounds are planned for credit unions unable to complete the form by the initial deadline.  

This lending program is designed to help credit unions and cooperatives offer affordable green loans to low-income and disadvantaged communities (LIDACs) and expects to provide more than 300 credit unions with grants ranging from $275,000 to $11 million. 

According to Inclusiv, the grants will be transformational, enabling community development credit unions to deliver energy efficiency, electrification, and solar access to consumers, homeowners, and small businesses to reduce carbon emissions and generate clean energy in their homes, transportation, and businesses. 

“Inclusiv’s new program is a great opportunity for credit unions to bring green lending to members of their communities who want to invest in energy-efficient technology but may not have the resources to do so,” said Carmen Vigil, GoWest’s SVP of Credit Union Engagement and Development. “We understand the value and complexities of this unique program, and GoWest is here to support any credit union going through the CCIA qualification process.” 

The CCIA program is open to all credit unions based in any U.S. state or territory or serving any Tribal entity. Grants will help cover operating and capitalization costs of the financial institution’s green lending programs, as well as technical assistance support for credit unions, as long as 100% of these funds reach LIDACs. This grant opportunity is a key part of the solutions needed to ensure LIDACs can access and benefit from the transition to a clean and efficient energy future that reduces energy cost burdens, creates good jobs, and drives healthy and resilient communities.

For more information and guidance:

• See the FAQ section in the Inclusiv CCIA Framework for answers to questions raised during the Nov. 19 and 20 Pre-Qualification Webinars: https://inclusiv.org/ggrf/
• Watch the Pre-Qualification Launch Webinar below.
• Contact Sarae Bay, GoWest Foundation AVP and Managing Director at [email protected].

Posted in Across the Region, Community Impact, GoWest Foundation, Regional Member News, Top Headlines.