Proponent Federal Credit Union Shares $50K Grant with Nutley Nonprofits

NUTLEY, NJ – Proponent Federal Credit Union , a financial partner in Nutley for over 50 years, received a $50,000 grant from the Federal Home Loan Bank of New York (FHLBNY) that it is sharing with ten Nutley not-for-profit organizations. The funds, from FHLBNY’s Small Business Recovery Grant (SBRG) program, are aimed at helping small businesses and nonprofits recover from economic challenges and advance their organizations.

The ten not-for profit Nutley recipients of the grant include Friends of Nutley Public Library, Good Shepherd Academy, Holy Family Church, Nutley Chamber of Commerce, Nutley Family Service Bureau, Nutley Little Theatre, Nutley Public Schools, Nutley Rotary Club, Nutley Thriving Survivors, and The Phoenix Center.

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The recipients were announced during a ribbon-cutting ceremony for the grand opening of the Proponent’s new state-of-the-art Member Center at 433 Kingsland Street. Proponent President & CEO Debi Van Dorn noted that “Nutley has been an exceptional home to Proponent for over 50 years, and this grant allows us to further invest in the community we proudly serve.” Mayor John V. Kelly III helped Van Dorn cut the ribbon and praised Proponent for its accomplishments.

Following the ceremony, guests attended a happy hour reception at The Oakley restaurant. They were also treated to tours of Proponent’s new Member Center which features an impressive Green Roof Garden.

About Proponent Federal Credit Union

Proponent Federal Credit Union has been a trusted alternative to for-profit banks for over 50 years. In fact, Proponent was born in Nutley and is committed to the community in which it lives. Proponent offers a comprehensive suite of products including mortgages, loans, credit cards, savings and checking accounts. Because it is a credit union, Proponent can offer lower interest rates on loans and higher rates on savings accounts than traditional banks offer. For more information, visit Profcu.org .

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About the Federal Home Loan Bank of New York
The FHLBNY promotes affordable housing and community development by offering liquidity to local lenders. Its Small Business Recovery Grant program, originally launched to help hurricane-affected areas, was expanded in 2020 to aid those impacted by COVID-19. FHLBNY members can apply for annual grants of up to $50,000, with a maximum of $10,000 per recipient.

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