• CU Strategic Planning

CU Strategic Planning Clients Win Nearly Half of Credit Union CDFI Award Funds


Twenty-five CU Strategic Planning credit unions received nearly $16.7 million dollars in grants to improve their communities from the US Treasury’s Community Development Financial Institutions Fund. It is a labor of love that paid off for the credit union executive teams and CU Strategic Planning's staff. CU Strategic Planning clients represented nearly half of all credit unions receiving the CDFI FA grants and half of all dollars. The big news is how much more CU Strategic Planning clients received than peers.


Credit unions working with CU Strategic Planning received an average CDFI Award of $666,420, which is 10.4% more than other credit unions granted Financial Assistance (FA) Awards. According to Mike Beall, CU Strategic Planning's Chief Strategic and Advocacy Officer, "This is significant because it exemplifies the ROI of working with the most sophisticated credit union consulting team in designing the comprehensive business plans which are submitted as award applications. The consulting more than pays for itself."


CU Strategic Planning also wrote two of the three largest credit union awards at $900,000 each. Only one loan fund was awarded a grant of $900,000 in the FA awards.


“Congratulations to all of the CDFI Grant winners this year,” CU Strategic Planning Founder Jamie Strayer said. “We are particularly proud of our clients, who put in the time, effort and empathy to co-create and execute these award-winning business plans. We love working with all of our credit union clients to help them unlock the potential in their communities.”


With the addition of the 2020 CDFI awards, CU Strategic Planning has written 150 award-winning CDFI applications for 97 credit unions. Those credit unions received over $135 million in grants to unlock opportunities to change lives and their communities.


"This year's awards show a phenomenal trend for the credit unions CU Strategic Planning has worked with for many years and many first-time credit unions," said Stacy Augustine, CU Strategic Planning's CEO. Pelican State Credit Union won its fifth award, Industrial Credit Union of Whatcom County and Houston Metropolitan FCU each won their fourth awards, and Suncoast, Southwest Louisiana, Peninsula, Innovations and Buckeye State credit unions all won their third awards. "The CDFI Fund recognizes credit unions doing in-depth community development work with our sophisticated plans and guidance."


In total, the 2020 CDFI Financial Assistance grants awarded $35.1 million to 55 credit unions. The HFFI Awards and TA awards were also announced.


Treasury’s CDFI Fund pairs federal dollars with innovative investments of private sector capital to support mission-driven financial institutions to increase lending and financial services to low income people, minority populations and economically disadvantaged communities. CDFI Financial Assistance awards can be up to $1 million, and they are used to boost usage of products and services, provide new services, expand operations or service new targeted populations.


CU Strategic Planning's 2020 CDFI Award-Winning Clients


Aneca Federal Credit Union

Buckeye State Credit Union

Commodore Perry Federal Credit Union

Community South Credit Union

Empower Federal Credit Union

Financial Partners Credit Union

First Family Federal Credit Union

Guardians Credit Union

Hawaii Central Federal Credit Union

Heritage Financial Federal Credit Union

Houston Metropolitan Federal Credit Union

Innovations Federal Credit Union

Industrial Credit Union of Whatcom County

Lake Trust Credit Union

Michigan First Credit Union

Pelican State Credit Union

Peninsula Community Federal Credit Union

REV Federal Credit Union

Skypoint Federal Credit Union

Sisseton- Wahpeton Federal Credit Union

Southwest Louisiana Credit Union

Suncoast Credit Union

Tallahassee-Leon Federal Credit Union

Telhio Credit Union

The New Orleans Firemen's Federal Credit Union




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