#2296: How Pelican State Credit Union Received Its Fifth CDFI Grant Worth $887,500...

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Pelican State Credit Union recently received its fifth Community Development Financial Institution (CDFI) grant during this latest funding round worth $887,500. Again, this is Pelican State's fifth CDFI grant over the years, which has helped the credit union make a significant impact on the communities it serves.

So how was Pelican State awarded this grant ... again and again?

With the help from the folks at CU Strategic Planning, who specialize in CDFI grant applications, this firm and Pelican State have created quite a symbiotic relationship over the years to achieve repeated success in this area.

To get the inside scoop, we invited Pelican State Credit Union AVP of Financial Outreach Jessica Sharon and CU Strategic Planning Founder Jamie Strayer on the program. Both Jamie and Jessica not only to shared how they work together to accomplish this consistency but how these funds over the years have made a tremendous impact on the credit union's members.

In addition, Jessica outlined where the funds will be used and where they've been used in past years to help members most effectively, as well as what type of return on these funds she anticipates for Pelican State.

Jamie added that 25 CU Strategic Planning credit union clients received $16.7 million U.S. Treasury CDFI funds this year -- nearly half of the total $35 million grant funds awarded to 55 credit unions. That's a lot of credit unions using these funds to make a huge difference in their communities.

Check it out and let us know your thoughts.