Green Lending Initiative Supported By the League Names Interim CEO

Ecority, a green-lending initiative supported by your League, has named Chuck Purvis as Interim CEO and Board Member.

Ecority recently submitted an application in pursuit of funding through the Environmental Protection Agency’s Greenhouse Gas Reduction Fund (GGRF).

League President/CEO Carrie Hunt is serving on an advisory board for Ecority, an independent nonprofit seeking to secure for credit unions and Community Development Financial Institutions a share of funding from a $27 billion fund at EPA. Ecority is composed of credit unions and CDFIs in 43 states, including Virginia’s own Langley Federal Credit Union.

“I’m proud of how credit unions and industry partners came together through Ecority to seize this unique opportunity. I wanted to ensure the Virginia League took a leadership role in this initiative, knowing what we could accomplish if credit unions are able to leverage GGRF funds in serving members and our communities,” said Hunt.

Your League recently approached Virginia's congressional delegation in hopes of soliciting their support for the credit union-backed initiative.

CONTACT:
Sharon Simpson
(240) 620-4095
sgsimpsonconsulting@me.com

Chuck Purvis to Lead Ecority as Interim CEO

November 15, 2023 (SAN ANTONIO, TEXAS) — Chuck Purvis has been named Interim CEO and Board Member of Ecority, a nonprofit that has built a national coalition of credit unions and state-chartered green banks and applied for an aggregate of $14.87B in grant funding from the EPA-administered Greenhouse Gas Reduction Fund.

Purvis retired as President/CEO of the $4.8B Coastal Federal Credit Union headquartered in Raleigh, North Carolina earlier this year and brings more than four decades of credit union industry experience to his new role. Throughout his career, Purvis has founded multiple companies, bringing new technology to market to benefit credit unions and their members.

“I’m thrilled to lead Ecority as it develops the resources cooperatives need to become national leaders in green lending,” says Purvis. “Through collaboration, we can help more members affordably finance electric vehicles and home improvement projects, while enhancing the financial health of low-income and disadvantaged communities by reducing their energy costs.”

Ecority’s grant application has received the full endorsement of NAFCU and CUNA and its coalition includes regional and state credit union leagues representing thousands of community lenders in every U.S. state and territory. Ecority plans to use the grant to fund a guaranty pool and provide technical assistance, enabling credit unions to autonomously lend for more eligible projects at lower rates, and include borrowers who may not otherwise qualify.

While the grant submission period has ended, interested credit unions may still apply to participate and potentially become subrecipients of grant funds through Ecority, by visiting ecority.org/register and submitting a letter of interest.

About Ecority

Ecority is an independent nonprofit established to specifically comply with the statutory requirements of the Greenhouse Gas Reduction Fund (GGRF). Its coalition includes credit unions, state and regional credit union leagues representing thousands of community lenders in every U.S. state and territory, and the nation’s largest state-chartered green banks, who will rapidly deploy clean energy projects at an unprecedented scale nationwide, with a focus on low-income and disadvantaged communities. Learn more at Ecority.org.