Inclusiv Launches $1.87 Billion Greenhouse Gas Reduction Fund

Posted: Dec 4, 2024 | Author: Cornerstone League

Clean Communities Greenhouse Gas Fund

^{Read time: 1 min, 22 secs}

Inclusiv logo Inclusiv has officially launched its $1.87 billion Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) green lending grant program. This initiative aims to help credit unions and cooperatives offer affordable green loans to low-income and disadvantaged communities (LIDACs).

What You Need to Know

Pre-qualification Process

Deadline: Wednesday, Dec. 18, 2024, at 5 p.m. ET
Future rounds planned for those unable to meet the initial deadline
Pre-qualification form: https://inclusiv.submittable.com/submit

Grant Details

300+ credit unions expected to receive grants
Grant amounts range from $275,000 to $11 million
Designed to cover operating and capitalization costs of green lending programs

Eligibility

Open to all credit unions and cooperatives in any U.S. state, territory, or serving any Tribal entity
No existing green lending program required

Program Background

The GGRF, a $27 billion EPA initiative, aims to:

Reduce carbon emissions
Ensure equitable transition to a cleaner economy
Invest in projects that might otherwise be overlooked

Inclusiv identified the Clean Communities Investment Accelerator as the most suitable program for credit unions among the three GGRF programs (Solar for All, CCIA, and National Clean Investment Fund).

Application Process

Submit pre-qualification form
Participate in training
Complete full application (opening early 2025)
Attend workshop to design program
Launch new products with Inclusiv's assistance

On a recent episode of The CUInsight Experience podcast, Inclusiv President/CEO Cathie Mahon emphasizes that serving low-income communities and underserved markets is a proven growth strategy for credit unions. This program allows credit unions to expand their services while contributing to environmental sustainability and community development.

“Regardless of where you are in your thinking and planning, if you want to do this, we want to create a space to help you do it,” Mahon said.