Community Development Credit Unions
Page 2

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.

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
  Back to Page 1

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 Resources

category - Small Business Grants

Secondary Market Lending Authority Program
The Small Business Administration has constituted the Secondary Market Lending Authority program, one which aims to provide liquidity for the secondary market, thereby ultimately encouraging new lending opportunities from banks of Small Business Administration guaranteed loans.

---

9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan
To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organisations are more risk averse than others, and will therefore have more st...

---

Community Development Credit Unions
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.

---

Disaster Relief Loans from GovLoans
GovLoans is a website created by the United States Federal Government that is designed to serve as the public's gateway to loan program information. One of the several kinds of loans that are featured in the GovLoans website are Disaster Relief loans.

---