Inclusiv Will Provide $1.68 Billion in Grants to CUs for Green Lending Program


Inclusiv is thrilled to be awarded $1.87 billion by the Environmental Protection Agency (EPA) through the Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA). Inclusiv will pass $1.68 billion (or 90%) of our CCIA award in the form of grants to credit unions for capitalization and operating costs to help build and scale green lending programs that serve low-income and disadvantaged communities (LIDACs).    

Read on to learn more about what to expect from Inclusiv and how credit unions can access funding to support their members in benefiting from these funds. 

Why is this grant opportunity important for credit unions?   

The grant will be transformational, enabling credit unions to provide affordable green loans for energy efficiency, electric vehicles, and solar to consumers, homeowners, and small businesses to help reduce energy bills, generate clean energy, and reduce air pollution and greenhouse gas emissions.  

How can credit unions participate in Inclusiv’s CCIA program? Inclusiv will provide CCIA grants to 300-400 credit unions over six years. Grants will range from $275,000 to $11 million. Average grant amounts will be $3.5 million per credit union, and the grant amount each individual CU receives will be based on factors such as their asset size and the size of green loan program they would like to build.  

What are the approved uses for this funding?  

Credit unions must use CCIA funds to build their capacity for green lending and offer affordable green loans for CCIA-eligible clean energy projects.    (please find more details in the “FAQ” section of this newsletter). 100% of funds must support LIDACs. 

How will Inclusiv support credit unions?  

Inclusiv will be here to support credit unions every step of the way. We have designed our CCIA program to build the permanent internal capacity of participating credit unions, without needing to rely on external consultants. Inclusiv will provide application assistance to grant applicants and programmatic support to grant recipients at no cost to credit unions. Credit unions do NOT need to hire a consultant at this point to prepare their Inclusiv CCIA application. 

Inclusiv’s CCIA grants will support all types of credit unions, including Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), and Cooperativas (financial cooperatives serving Puerto Rico) that are already some of the most heavily engaged community lenders in LIDACs.  

What is the application process?  

Inclusiv will aim to to open grant applications at the end of 2024 or the beginning of 2025. Inclusiv will accept credit union applications on a rolling basis for at least the first three years of the program. (please find more details in the “FAQ” section of this newsletter)  

How can my credit union get started?  

We will continue to provide detailed updates as our program develops. Please complete Inclusiv's CU & Partner Intake Form to stay connected and join Inclusiv's GGRF mailing list.

Apply for our free University of New Hampshire-Inclusiv virtual Solar and Green Lending Professional Training courses.
 

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