Credit Union News

The Latest Industry News Coverage


CA and NV ‘AHEAD’ Grant Recipients Receive Nearly $1 Million

Fifteen credit unions across California and Nevada were recently awarded a total of $980,000 in grants from the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) — part of a larger $4 million in AHEAD economic development grants to help local organizations boost economic opportunity in underserved communities throughout California, Nevada, and Arizona.

These 75 grants — delivered through FHLBank San Francisco member financial institutions — are aimed at advancing innovative economic and community development initiatives that bring greater opportunity to underserved populations.

California and Nevada Credit Union Recipients
A total of $905,000 was distributed to 13 credit unions across California for their partnerships with the following local organizations and initiatives:

  • Bay FCU (Santa Cruz Community Ventures Inc.) — $70,000.
  • Cal Coast CU (Logan Heights Community Development Corporation) — $100,000.
  • Community First CU (West Enterprise Center Inc.) — $50,000.
  • Coast Central CU (Arcata House Partnership) — $70,000.
  • Excite CU (School of Arts and Culture at MHP) — $100,000.
  • Mission FCU (La Maestra Family Clinic Inc.) — $100,000.
  • Mission FCU (TERI Inc.) — $25,000.
  • Redwood CU (La Cocina) — $25,000.
  • SCE FCU (Building Skills Partnership) — $50,000.
  • Santa Cruz Community CU (Community Action Board of Santa Cruz County Inc.) — $100,000.
  • Santa Cruz Community CU (Community Bridges) — $70,000.
  • Valley First CU (Stanislaus Equity Partners) — $70,000.
  • Vocality Community CU (Lake County Economic Development Corporation) — $50,000.
  • Wescom CU (Union Station Homeless Services) — $25,000.

A total of $75,000 was distributed to two credit unions across Nevada for their partnerships with the following local organizations and initiatives:

  • Greater Nevada CU (Rebuilding Together Northern Nevada) — $50,000.
  • Clark County CU (Lighthouse Charities) — $25,000.

Latest AHEAD Grants Program Update
The $4 million program allocation awarded this year represents a 166 percent increase from the 2022 grant cycle and, for the first time, the maximum grant amount for each recipient was increased to $100,000. These program expansions demonstrate FHLBank San Francisco’s commitment to fostering economic vitality throughout the communities it serves.

AHEAD grants are awarded annually and are intended to create economic opportunity by expanding proven development models or piloting new interventions. This year’s grant recipients support a diverse array of underserved groups, including low- to moderate-income households, individuals of diverse backgrounds — including women, seniors, underserved youth, individuals with disabilities, formerly incarcerated individuals, the unhoused, and tribal organizations.

The $4 million in this year’s AHEAD grants awarded to 75 grantees will support a wide range of projects and beneficiaries (20 grants for entrepreneurial/microenterprise projects), including:

  • 19 grants for job training initiatives.
  • 10 grants for financial education projects.
  • 45 grants to support BIPOC community members (black, indigenous, people of color).
  • 15 grants to support women community members.
  • Eight grants to support immigrant community members.
  • Seven grants to support Native American community members.
  • Six grants to support veteran community members.

Since the AHEAD grant program’s inception in 2004 and in partnership with their 330 generous member institutions, FHLBank San Francisco has awarded more than $25 million to about 800 community-invigorating projects throughout the Bank’s three-state region. The AHEAD grant program is just one example of the bank’s commitment to fostering economic vitality, affordable homeownership, and wealth creation by contributing up to 15 percent of annual net profits to mission-aligned initiatives each year.

Learn more about the AHEAD program and this year’s economic development grant recipients.

Related News

Become an Industry Supporter

Get membership information

Please contact me about compliance

Contact me about Credit Union Solutions

Education & Professional Development