Tucoemas Federal Credit Union receives the maximum federal grant from the Rapid Response Program (RRP) of $1.8 Million. The grant is intended to help provide capital to CDFI (Community Development Financial Institutions) in areas hardest hit by the Covid-19 pandemic. The grant allows Tucoemas to provide greater access to personal loans up to $5,000 (called “RISE Loans”), with an easy application process, and same-day approvals.
The Tucoemas RISE Loans are available to everyone and are intended to inject capital into our communities. CEO, Brice Yocum says, “We have all been affected by the pandemic, and now we must rise together in these challenging times. This grant allows us to provide even more financial resources to everyone in our community.”
“As a Minority Depository Institution (MDI) this grant gives us additional tools in fulfilling our mission to serve communities that are typically underserved and are experiencing financial setbacks due to the pandemic,'' says Meredith Ritter, Chief Financial Officer.
“Tucoemas RISE loans are available now with an easy application process, same-day approval and favorable interest rates. These loans will help families and individuals fill in financial gaps and jump-start the recovery in Tulare County”, says Sonia Smalley, VP of Lending.