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.
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
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 Government Grants Resources
Small Business Administration's Loan Guarantees Program
The Small Business Administration has established the Loan Guarantees Program wherein they aim to be able to provide guaranteed loans to small business establishments which are not capable of acquiring financing from a private credit marketplace but greatly manifests the ability to repay funds in a timely manner.
Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North Carolina
One of the more popular programs is the FirstHome Mortgage Program for First Time Homebuyers which offer significantly low interest rates and a rather low fixed 30-year mortgage plan.
Identifying Heart, Lung, and Blood Disease-Causing Variants
The National Institutes of Health has formed a partnership with the National Heart, Lung, and Blood Institute to establish a program that aims to Identify Heart, Lung, and Blood Disease-Causing Variants.
Agriculture Loans From GovLoans
Are you a farmer or a rancher who is tired of scouring the world wide web for benefits and loans from the United States Government only to find yourself annoyed and frustrated due to the rather complex and confusing process of looking through hundreds of pages from numerous websites?
How to Get Free Money to Save for Your Child's College Education
Did you know that a college educated person will earn 2.5 times more over a lifetime than someone without a post secondary education? College educated people are more likely to keep their jobs when ...
Federal and State Technology Partnership Program
The Federal and State Technology Partnership Program works around the objective of being able to boost and strengthen the technological competitiveness of small business establishments in the United States of America.
Exploratory Clinical Trials for Small Business Grant Program
The National Institutes of Health has formed a partnership with the National Institute of Neurological Disorders and Stroke (NINDS) in order to establish the Exploratory Clinical Trials for Small Business Grant Program wherein they aim to establish a vehicle for Small Business Concerns (SBCs) in the process of submitting Small Business Technology Transfer (STTR) grant applications for exploratory clinical trials directly to the NIND
Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
