The Michigan Credit Union League (MCUL), joined with state credit unions,  to celebrate Inclusiv’s $1.87 billion grant through the federal Greenhouse Gas Reduction Fund (GGRF). The fund — administered by the Environmental Protection Agency — is designed to help build and execute clean energy lending programs that will support low-income and disadvantaged communities’ efforts to reduce energy costs and create green jobs. These grants are available to credit unions, Community Development Financial Institutions (CDFIs), minority depository insitutions and others.

“The Michigan credit union movement is focused on strengthening communities across the state, and Michigan’s Climate Investment Fund aligns with that mission. A central part of our goals is to collaborate with partners to make our Michigan credit union community even stronger. That is exactly what is taking place following Inclusiv’s award,” said MCUL CEO Patty Corkery.

Representatives from four different Michigan credit unions –Michigan State University Federal Credit Union, Diversified Members Credit Union, One Detroit Credit Union and TRUE Community Credit Union –gave presentations on their respective credit unions’ ongoing energy-based lending programs, providing a roadmap for credit unions interested in designing programs in conjunction with Inclusiv’s GGRF award.

Each presentation provided the credit unions’ unique approach and what they’ve learned during the process, providing a roadmap for other credit unions designing programs with Inclusiv’s GGRF award.

One Detroit CXO Portia Powell praised the program for empowering lenders’ ability to extend clean energy solutions to underserved communities. “One Detroit Credit Union is deeply grateful for Michigan’s ongoing commitment to enhancing our lending capacity through initiatives like the Michigan Climate Investment Fund,” said Powell. “As a community lender serving local consumers and businesses since 1935, this support is crucial in empowering us to extend clean energy solutions to underserved communities. With increased support and access to funds like the GGRF, we can uplift those who need it the most, fostering economic growth and opportunity throughout Metro Detroit.”

Michigan Lieutenant Governor Garlin Gilchrist II spoke at the event, highlighting the importance of the grant program and what it means for credit unions.

MCUL will continue to work to ensure Michigan credit unions have access to the information and resources necessary to take advantage of federal clean energy grant dollars through both Inclusiv’s GGRF award (applications will open in early 2025) and Michigan Department of Environment, Great Lakes and Energy’s Climate Investment Fund.

America’s Credit Unions previously wrote a letter in support for including credit unions in the GGRF program, which was awarded in April to Inclusiv.