AltaOne awarded $2.4 million CDFI Equitable Recovery Program Grant
Summary
A total of $1.73 billion in grants were awarded by the CDFI Fund to 603 Community Development Financial Institutions (CDFIs) nationwide.We want to thank the U.S. Treasury for recognizing the work that AltaOne has done in supporting the residents of Kern, Mono, and Inyo counties, said AltaOne CEO Stephanie Sievers. This grant award will increase AltaOnes ability to continue rebuilding and investing in communities that have been impacted by the pandemic, climate change, and those that have been neglected by other mainstream financial institutions. AltaOne serves many areas that have limited or no availability to financial services.Funds for the ERP Grant were authorized by congress in the Consolidated Appropriations Act, 2021 to respond to the economic effects of the COVID-19 pandemic. Grant awards were announced today by Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo.AltaOne received its Certified CDFI status in May 2022 and was assigned an Investment Area and Low-Income Target Population in Inyo, Kern, Los Angeles, Mono, Orange, San Bernardino, and Tulare counties in California; Clark County, Nevada; and Mohave County, Arizona. Headquartered in Ridgecrest, California, AltaOne was organized as the NOTS Employees Federal Credit Union in 1947 at China Lake.