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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
Keystone Home Loan PLUS Program
The Pennsylvania Housing Finance Agency, otherwise termed as PHFA, is an independent agency established in year 1972 in an attempt to assist the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.
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.
First Time Homebuyer Programs in New York
The State of New York cares so much about its people. It looks out for them and constantly ascertains that their best interest is always protected. One of the ways in which the state has manifested this concern is through the establishment of the State of New York Mortgage Agency, more commonly referred to as SONYMA, which is a public authority established in 1970 designed to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.
Modeling Social Behavior Grant Program
The National Institutes of Health has collaborated with the National Institute of General Medical Sciences (NIGMS) and the National Institute of Mental Health (NIMH) in order to establish the Modeling Social Behavior Grant Program wherein they intend to seek applications for the development and evaluation of innovative theories, as well as computational, mathematical, and engineering approaches that could better our understanding of a human being's social behavior.
National Endowment for the Humanities: National Digital Newspaper Program
The goal of the National Digital Newspaper Program is to crate a national digital resource of historically significant newspapers published between the years 1836 and 1922, from all of the States and its territories.
Distance Learning College
You might be at a crossroads in your life. You might realize that you need your Associate's degree or Bachelor's degree to land that exciting and high-paying job you have always wanted. You might rea...
Government Grants within the United States Agricultural Sector
The agriculture industry is one of the key players in the sustenance of a stable economy. For this reason, the United States government has pioneered in aiding the growth and expansion of the industry.
Social Entrepreneurship
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