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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. |
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
Lifespan Respite Care Program - Technical Assistance Resource Center
In keeping with this mission, the Administration on Aging has recently announced the constitution of the Lifespan Respite Care Program - Technical Assistance Resource Center wherein it aims to invite applications for a competitive grant opportunity for implementing the requirements of the Technical Assistance Resource Center (TARC) as authorized in the Lifespan Respite Care Act of 2006.
Rehabilitation Mortgage Insurance Program
The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.
Applying for a Grant - Where and How
Applying for a grant used to be a difficult and tedious process. The applications were long and often difficult to obtain. Even worse, loans used to be difficult to locate. Unless you were extremely ...
7 Steps Towards Choosing The Perfect College
In most instances, the problem doesn't stop with finances. Students often find it hard to choose the right school for them, pick the course that best suit their needs and abilities.
Health Resources and Services Administration: Teaching Health Center Graduate Medical Education (THCGME) Program
The THCGME program provides payments to cover the cost of brand-new residency and dentistry programs in various community-based and ambulatory primary health care settings, such as health centers.
Northern Rocky Mountain Science Centers offers funding to Rocky Mountain Cooperative Ecosystem Studies Unit Program
The goal of the Cooperative Ecosystem Studies Unit(CESU) Program is to jump-start research studies that address concerns regarding the effects of climate change on the hydrology and biota of northern Great Plains.
Academic-Community Partnership Conference Series Program
In line with this mission, the National Institutes of Health has recently formed a partnership with the The Eunice Kennedy Shriver National Institute of Child Health and Human Development (NICHD) to establish the Academic-Community Partnership Conference Series Program wherein both agencies seek to solicit grant application that intend to conduct health disparities-related meetings, workshops, symposiums.
Social Entrepreneurship
Spotlight
Why People Buy from Social Enterprises?
The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.
