Peters welcomes announcement of more capital for companies

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U.S. Senator Gary Peters (MI) today welcomed the announcement by the U.S. Treasury Department of an allocation of nearly $ 36 million to Michigan communities under the Institutions’ Rapid Response Program Community Development Fund (CDFI RRP). These resources will provide the necessary capital for CDFIs to respond to the economic challenges caused by the pandemic, particularly in underserved communities.

“I am proud to have helped secure this COVID relief funding that will help communities in need across our state as they strive to rebuild after this pandemic.” said the senator Peters. “These funds will support financial institutions that can help small businesses keep their doors open, families make ends meet, and communities of color and underserved areas hit hard by COVID. I will continue to do all I can to help minority communities and small businesses rebuild better.

“We congratulate Michigan credit unions for receiving funding under CDFI’s rapid response program,” said Patty Corkery, president and CEO of the Michigan Credit Union League. “The grants will allow these credit unions to continue to have an incredible and transformative impact on the people, businesses and communities they serve, and we appreciate the work of Senator Peters to help secure this funding.”

A list of grant recipients in Michigan can be found below.

Name of the organization City Amount

Advia Credit Union Parchment

Allegan Community Federal Credit Union Allegan $ 1,826,265

Astera Credit Union Lansing $ 1,500,000

Chi Ishobak, Inc.

CORE Bingham Farms Community Partners $ 200,000

Detroit Development Fund Detroit $ 1,826,265

Caisse populaire ELGA Burton $ 1,826,265

First Independence Bank Detroit $ 1,826,265

Grand Rapids Opportunities for Women Grand Rapids $ 200,000

Great Lakes Womens Business Council Livonia $ 700,000

Invest Detroit Foundation Detroit $ 1,826,265

Housing Services in the Kalamazoo District Kalamazoo $ 200,000

Caisse populaire du Lac Huron Saginaw $ 1,826,265

Lake Superior Community Development Corporation L’Anse $ 343,000

Lake Trust Credit Union Brighton $ 1,826,265

Members First Credit Union Midland $ 1,826,265

Metro Community Development, Inc. Flint $ 1,050,000

Michigan Community Capital Lansing $ 1,826,265

Michigan First Credit Union Lathrup Village

Northern Great Lakes Initiatives Marquette $ 1,826,265

Northern Shores Community Development, Inc. Harbor Springs $ 200,000

OMNI Community Credit Union Battle Creek $ 1,826,265

A Detroit credit union Detroit $ 1,826,265

Lansing Opportunity Resource Fund $ 1,826,265

Prosperus Detroit Micro Lending Detroit $ 200,000

Romulus Civil Service Credit Union $ 1,826,265

Venture North Financing and Development Traverse City $ 829,000

Total $35 920 624

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