New York, NY (February 25, 2025) |
We are happy to announce Inclusiv has selected a total of 108 credit unions and Puerto Rican cooperativas to receive a combined $651 million in our first round of CCIA awards. Inclusiv’s Greenhouse Gas Reduction Fund (GGRF) Clean Communities Investment Accelerator (CCIA) program is designed to mobilize credit unions and cooperativas to offer affordable renewable energy and energy efficiency financing to reduce energy costs for American households and businesses, creating good jobs and greater financial security.
The first cohort of 108 credit unions selected, serve more than 4.9 million Americans in 27 states and Puerto Rico. Their work to deploy these funds in communities that are burdened by high energy costs will generate a projected $2 billion in new lending capital and allow Americans to reinvest the savings they see on their energy bills elsewhere in the economy.
This important stream of funding will allow credit unions to expand their lending to offer affordable loans for building energy upgrades, such as heating and cooling systems, solar panels, energy efficient appliances among other products that can help households and small businesses lower their energy costs. These energy upgrades employ contractors, developers, and manufacturers to carry out the projects, creating a ripple of positive economic impact locally.
Since launching our CCIA program, more than 250 credit unions and cooperativas submitted pre-qualification forms, far exceeding our expectations. Submissions came from over 40 states, including Texas, Michigan, North Carolina, Florida, and Ohio and from territories like Puerto Rico, US Virgin Islands, and Guam. This overwhelming demand indicates broad interest in resiliency and energy cost savings across the country and US territories.
Cathie Mahon, President/CEO of Inclusiv said:
“The overwhelming demand for our CCIA program is a true testament of the opportunity to reduce energy costs, generate economic activity and improve air quality in low-income and disadvantaged communities.”
Juan Fernández, President/CEO of Luminate, the Credit Union League for Louisiana: “Many Louisiana residents face the burden of high costs due to aging homes and outdated infrastructure. The CCIA program empowers credit unions to support their members in achieving energy independence—replacing inefficient appliances and upgrading homes with energy-efficient renovations- which in turn lowers member's expenses.”
Gerry Singleton, President/CEO, Montana Credit Union: “The CCIA program is a great opportunity for credit unions to help boost our local economy and lower energy costs for Montana families. Whether saving up for a new vehicle or equipment, hiring more employees, or just taking control of what families pay in energy bills, these energy savings can empower entire communities to thrive.”
Murray Williams, President/CEO of the Iowa Credit Union League: “Iowa has long been a leader in clean energy, and we are proud to partner with Inclusiv so Iowa credit unions can continue this tradition through the CCIA program. Our collective efforts will make a significant impact in relieving the energy burden on Iowans who need it most,” said Murray Williams. “These federal dollars coming to Iowa will have a powerful and lasting effect on our local communities, both rural and urban, as credit unions develop clean energy lending options for Iowans who could not otherwise afford to make these critical upgrades to their homes. The savings realized on their home energy bills will be reinvested elsewhere in our economy, creating a ripple of economic impact.”
Jim Kasch, President/CEO, Kentucky’s Credit Unions: “Too many households spend a disproportionate share of their income on energy bills. Credit unions are well positioned to meet the energy financing needs of Kentuckians. The CCIA program will not only provide local lenders the opportunity to expand and provide families with affordable energy options, but also it will help spur job creation in one of the fastest growing industries in our state.”
Melia Heimbuck, President/CEO, Credit Union Association of New Mexico: "As a system partner in the CCIA program, we value our collaboration with Inclusiv in expanding green lending opportunities for New Mexico credit unions. This program will unlock federal funding to support energy-efficient homes, appliances, and investments—helping sustain our communities and natural resources for generations. We are proud to be part of this initiative and look forward to its continued growth and impact."
Inclusiv continues to review CCIA applications on a rolling basis. Additional award rounds will be announced in the coming weeks.
The CCIA submissions process remains open
We continue to accept and review CCIA award applications from pre-qualified credit unions and cooperativas. Interested credit unions can learn more and complete the pre-qualification form here: https://inclusiv.org/ggrf. Submissions will be reviewed on a rolling basis.
The full list of credit unions and cooperativas selected for the first round of CCIA funding available below: