SEATTLE–Verity Credit Union has announced the return of its Microgrant Program, which it said is designed to support grassroots nonprofits that often lack access to traditional funding. 

The $776.2-million Verity, which is a CDFI, said it will award $5,000 to $7,500 in unrestricted support to six organizations this spring.

Verity Community Impact Manager Mandy Lee told the Seattle Medium the program was launched in 2017 to aid “grassroot organizations” that fall through the cracks when it comes to access to capital.

“Since then, we’ve had about 410 applicants and 68 organizations that have been awarded the microgrants, which is a little bit more than $2 million,” Lee told the Medium. “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.

Who’s Eligible

According to the credit union, eligible applicants include nonprofit organizations that have limited access to conventional grants due to tax-exemption status, operating history, or organizational scale.

Verity told the publication 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 told the Seattle Medium. “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.”

Lee further told the publication Verity’s mission goes beyond banking—it’s about investing in the people it serves.

The Priorities

Verity said the grant program is structured to prioritize non-profit organizations that: 

• Work explicitly supports Black, Indigenous, and people of color (BIPOC) communities
• Are founded or led by members of historically marginalized communities and those with marginalized lived experiences
• Have a total asset size of less than $250,000
• Do work furthers social justice, environmental justice, equity, and financial wellness for all.