U.S. Census Bureau data projects that the United States will be “majority-minority,” or majority people of color, by 2043. The New Majority Growth Initiative is a capacity building initiative developed by Inclusiv to support current leaders of Minority Depository Institutions (MDIs) in the mainland U.S., U.S. Virgin Islands, as well as financial cooperatives (cooperativas) in Puerto Rico.
Launched in 2023, participating credit unions and cooperativas are enrolled in an MDI Learning Center or Cooperativa Learning Center which consists of group classes and a collaborative effort to strengthen the growth trajectory of over 317 minority designated financial institutions. Inclusiv has been providing community development finance training, access to tools and best practices, consulting support, and $3.4 Million in grants to MDI CDCUs & cooperativas nationwide.
The New Majority Growth Initiative is supported by a lead grant from the Citi Foundation’s Community Finance Innovation Fund, with strengthening funders JPMorgan Chase, and NerdWallet. Inclusiv is also supporting the New Majority Growth Initiative with our Equitable Recovery Program (ERP) grant from the CDFI Fund.
We are excited to announce that Inclusiv is expanding this initiative. Through this new round of funding, Inclusiv will provide community development finance training, capacity building tools, consulting support and grants ranging from $25,000 to $75,000 to selected MDIs and cooperativas.
To learn more about this grant opportunity, its eligibility guidelines, and to apply click on the link below.
