EMERGENCY CAPITAL INVESTMENT PROGRAM
Empowering community development banks to thrive in challenging times.
dispersed directly to depository institutions that are certified Community Development Financial Institutions (CDFI) or minority depository institutions (MDIs).
The Emergency Capital Investment Program
ECIP was created to help those that needed it most but, as with any program, it requires proper data collection and reporting by participating institutions. Smiley’s technology solution drives automation to the ECIP reporting process assisting our partners from a data perspective.
To date, Smiley has partnered with institutions that have accepted $2.5 billion, or 30 percent of the $6.3 billion that has been allocated to Non-Credit Unions thus far in ECIP.
The States With the Most Investment
Thus far the USDT has made over 8.38 billion dollars of investments in 170 CDFI and MDI communities across the country.
The states receiving the most ECIP investments include Mississippi ($1,655,939,000), Louisiana ($780,787,000), and North Carolina ($734,616,000).
Smiley's Experience
To date, Smiley has partnered with institutions that have accepted $2.5 billion, or 30 percent of the $6.3 billion that has been allocated to Non-Credit Unions thus far in ECIP.
On a grander scale, Smiley has worked with institutions that make up nearly 30 percent of the total amount dealt out by the USDT throughout the program.