Inclusiv Launches $1.87 Billion Greenhouse Gas Reduction Fund

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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 

1. Submit pre-qualification form 
2. Participate in training 
3. Complete full application (opening early 2025) 
4. Attend workshop to design program 
5. 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.  

Additional Resources 

• Pre-qualification webinar   
• Questions? Email [email protected] by Dec. 16, 2024 
• Listen to CUInsight Experience podcast to hear more about GGRF