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CDCUs are nonprofit organizations with a tax-exempt status. These credit unions are typically owned and managed by its members but are also regulated by the government.
A Community Development Credit Union, more commonly known as a CDCU, is a credit financial institution which owned and controlled by its members in an effort to sustain the ability of being able to provide a wide array of financial services. Basically a Community Development Credit Union is a type of Community Development Financial Institution (CDFI) that is specially designed to low and moderate income people and communities with or without small businesses. |
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Community Development Credit Unions are capable of offering a wide selection of benefits to its members. Usually, some of the most notable benefits are as follows:
a) The ability to provide fairly priced loans to members who have limited or no credit history.
b) The ability to help its members in the process of saving money.
c) The ability to conduct financial transactions at reasonable costs.
d) The ability to provide financial counseling and education to all of its members.
e) The ability to assist its member during the process of proving services which will potentially help them shy away from high-cost loans, and simultaneously gain more control over their finances.
In cases where banks and other commercial institutions can no longer help, small businesses can turn to CDCUs for financial assistance.
In general, CDCUs are great instruments for providing financial lifelines to low income individuals and communities who wish to gain financial stability and gain traction in the business community.
Community Development Credit Unions
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on grants for youth programs and home improvement grants. |
Additional Government Grants Resources
Museum Grants for African American History and Culture Program
The Institute of Museum and Library Services has established a funding opportunity to support the Museum Grants for African American History and Culture Program wherein they intend to provide the African American museum staff with added knowledge and ability in all the areas of management, operations, programming, collections care, and other museum skills.
Small Business Grants - Free or Low Cost Consulting for Your Small Business
Did you know that it is possible for you to receive free or low cost consulting for your small business? If it sounds too good to be true, rest assured it is actually possible. Not only does it make sense economically, but you would be receiving advice from professionals who have extensive business experience.
Health Resources and Services Administration: Affordable Care Act - Immediate Facility Improvements Program
The HRSA administers health care grants to eligible individuals, in order to help them obtain safe and quality care through the Affordable Care Act Capital Development (Immediate Facility Improvements Program).
Downpayment Assistance Program for the First Time Home Buyers in North Carolina
The programs and activities of the North Carolina Housing Finance Agency are constantly geared towards the satisfaction of the best interest of its target population, which is why all their endeavors are carefully guided by their overall agency mission which is "to create affordable housing opportunities for North Carolinians whose needs are not met by the market."
Grants from the US State Department for Media Training Workshops in Tunisia
The office of the US Mission to Tunisia, which is under the DoS, is seeking applications for the Media Training Workshops program for the Tunisian people through the The US Embassy in Tunis, Tunisia.
Migratory Bird Joint Ventures: Playa Lakes Joint Venture Base Operations
The Southwest Region of the US Fish and Wildlife Service is now seeking applications and proposals for the start of base operations, that is core support staff activities and functions, for the Playa Lakes Joint Venture partnership.
Pilot Surveillance System for High Impact/Low Prevalence Congenital and Inherited Conditions Program
The Centers for Disease Control and Prevention has recently established the Pilot Surveillance System for High Impact/Low Prevalence Congenital and Inherited Conditions Program wherein it seeks to create and evaluate a surveillance system for congenital and inherited disease conditions.
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