By Aaron Allen, The Seattle Medium
As federal budget cuts strain resources for marginalized communities, Verity Credit Union has announced the return of its Microgrant Program, aimed at supporting grassroots nonprofits that often lack access to traditional funding. Verity, a Community Development Financial Institution (CDFI) known for socially responsible, community-centered banking, will award $5,000 to $7,500 in unrestricted support to six organizations this spring.
According to Mandy Lee, Verity’s Community Impact Manager, the program, launched in 2017, was created to aid “grassroot organizations” who fall through the cracks when it comes to access to capital.
“Verity Microgrants program started in 2017,” says Lee. “Since then, we’ve had about 410 applicants and 68 organizations that have been awarded the microgrants. Which is a little bit more than $200,000.00.”
“The reason why Verity started this program is to help small grassroots organizations who may not have access and opportunity as well as the capacity to apply for grants, giving them the best opportunity to get unrestricted funding,” added Lee.
Applications for the spring cycle are open through April 15, 2025. Eligible applicants include nonprofit organizations that have limited access to conventional grants due to tax-exemption status, operating history, or organizational scale.
Verity officials say the application process is intentionally streamlined to eliminate traditional funding barriers.
“Other issues with funders and nonprofits is that there is a lot of hoops that nonprofits have to jump through,” Lee said. “Along with really intensive reporting requirements or lengthy applications that need to be filled out, and so we are trying to remove as many of those barriers as possible to make funding as accessible as possible.”
Unlike banks, Verity operates as a cooperative—owned and governed by its members. That distinction, Lee noted, plays a major role in how resources are distributed and how the credit union aligns with community needs.
“I think first and foremost, it is important to remember that credit unions are cooperatives, meaning that our members own the credit union,” Lee said. “Verity members have ownership rights to the credit union which is pretty awesome. That means they have a say in how we operate and how we spend money.”
“That is something that you would not find at a bank,” she continued.
Another major point Verity educates their members on is just how vital their mission of giving back to the Lee emphasized that Verity’s mission goes beyond banking—it’s about investing in the people it serves.
“This is why it is important that our work is to give back to the community,” she said. “Supporting nonprofits, providing financial education and financial workshops and financial coaching, providing equitable products and services like no overdraft fees and low-barrier checking accounts to access because we are of and for our members.”
The program is structured to prioritize non-profit organizations that:
• Whose work explicitly supports Black, Indigenous, and people of color (BIPOC) communities
• Who are founded or led by members of historically marginalized communities and those with marginalized lived experiences
• With a total asset size of less than $250,000
• Whose work furthers social justice, environmental justice, equity, and financial wellness for all.
Past recipients have used their awards for a wide range of needs—from covering utility bills to upgrading software, improving programs, and boosting operational capacity. For the Spring 2025 cycle, one top-scoring applicant will receive a $7,500 microgrant, while five additional organizations will each receive $5,000.
Verity currently operates six branches throughout the Puget Sound region, from Lynnwood to Auburn. A seventh branch is set to open later this year on Rainier Avenue in South Seattle, further expanding its reach in underserved communities.
Source: Seattle Medium
