Seventeen credit unions across Puerto Rico are set to receive a combined $9.8 million in federal funding to expand access to financing, strengthen financial services and support small businesses.

The funding comes through the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. Of the total, $8.8 million was awarded to 10 cooperatives through the Financial Assistance program, increasing their capacity to provide consumer, mortgage and small-business loans.

Six additional cooperatives received $698,954 through the Small Dollar Loan Program, which is designed to support smaller loans for people with limited or damaged credit histories. Two other cooperatives received $300,000 in technical assistance to strengthen their operations and services. Some institutions qualified for more than one programme.

The recipients include credit unions serving communities in Aibonito, Las Piedras, Yauco, Juana Díaz, Caguas and other areas.

Puerto Rico’s cooperative sector said the funding can help broaden access to capital for small and mid-sized businesses, families and underserved communities. The allocation follows efforts to release federal funds that had been approved by Congress in 2025 but remained delayed.

The latest investment adds to a longer federal funding relationship with Puerto Rico’s credit-union sector. Inclusiv reported that Puerto Rican credit unions have accessed more than $343 million in Treasury funding since its CDFI Initiative for Puerto Rico began in 2018.