Rep. Katko Announces Over $1.2 Million in Federal Funds to Expand Access to Financial Services for Underserved Communities
SYRACUSE, NY— U.S. Rep. John Katko (NY-24) today announced $1,239,000 in federal funds will be distributed to Empower Federal Credit Union, Home Headquarters Inc., and Syracuse Cooperative Federal Credit Union. In Central New York, these organizations play a critical role in serving communities that often lack access to affordable financial services.
The funds are available through the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund, a program that builds the capacity of community development organizations and financial institutions to provide credit, capital, and financial services to underserved communities. In Congress, Rep. Katko advocated for increased support for the CDFI Fund, including an increase of $42 million in federal funding in Fiscal Year 2021.
“I am proud to announce over $1.2 million in federal funding from the CDFI Fund will be distributed to Empower Federal Credit Union, Home Headquarters Inc., and Syracuse Cooperative Federal Credit Union,” said Rep. Katko. “In Central New York, these organizations serve as a primary access point to a wide range of financial services for many individuals and small businesses in our community. As our region looks to rebuild economically from the COVID-19 pandemic, we must ensure Central New Yorkers have access to affordable financial services.”
A full list of the awards can be found below:
Empower FCU Syracuse: $557,000
Home Headquarters Inc.: $557,000
Syracuse Cooperative Federal Credit Union: $125,000