Local Credit Union Awarded Grant to Expand Efforts to Support Local Businesses and Help their Workers Improve Financial Health

The Giving Coast

Founded in 1958, Financial Access Federal Credit Union is a Treasury Certified Community Development Financial Institution and the only Credit Union chartered in Manatee County. This month, the Credit Union has been awarded a second grant to support their newly launched Employee Financial Empowerment platform. In September, the Credit Union received a $50,000 grant and this week it was announced the U.S. Department of the Treasury's Community Development Financial Institutions Fund awarded the credit union a $125,000 Technical Assistance grant. The funding from these grants will support the launching of an Employee Empowerment Platform providing credit challenged employees access to low cost loans along with credit building and financial improvement resources. The grant will also allow the credit union to provide loan below market interest rate loans for financially stable employees as well. The program will be an incentive for local businesses to use for recruitment and retention and the outcome of this work will broaden the economic capabilities of our local residents.

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