This month, the North Carolina Minority Support Center (The Support Center) awarded $3,658,800 to its affiliate community development credit unions (CDCUs) to provide for their operational, business lending and expansion needs. Funding for this award cycle was provided to The Support Center by the State of North Carolina's General Assembly to support CDCU services and their efforts to serve their low-moderate income (LMI) members.

"The Support Center is pleased to assist in the growth and expansion of the credit unions in our affiliate network," says Avani Parekh-Bhatt, Development and Program Director. "Due to funds provided by the general assembly, we were able to meet the requests that we received from our affiliates. Their requests demonstrate that even in the midst of a down economy, CDCUs across the state are experiencing tremendous demand for their products and services. Not only are they working to meet the needs of their current members, they actually have an opportunity to reach a greater number of low-moderate income families."

Recipient CDCUs will receive the funds via capacity grants, investments, and deposits. Awards will be provided to First Legacy CCU, Greater Kinston CU, Latino CU and Generations CCU by year end.

The Support Center is a statewide advocate that partners with Community Development Credit Unions (CDCUs), providing technical assistance, grants and loans to help them build generational wealth and create opportunities for individuals, families and communities.