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

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.

---

How The Government Can Help Your Small Business
The United States Small Business Administration, otherwise known as SBA, is a United States government agency that was established on the 30th day of July, 1953.

---

Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.

---

Small Business Grants - Support for Veterans
The SBA is dedicated to lend a hand to the service people in America and directly links with the Patriot Express Loan for veterans who desire to initiate their own business and want to start commercial activities. The SBA also plays a role in encouraging growth and job creation during the process, which is an indispensable part to support economic prosperity.

---