Ocean Financial secures $50K in small business grants for local nonprofits

Ocean Financial Federal Credit Union distributed $50,000 in funding secured from the Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program, to support five Long Island nonprofit and community organizations.

The credit union distributed $10,000 grants to the Parish Family of St. Raymond Penyafort in East Rockaway, Hispanic Brotherhood in Rockville Centre, Tomorrow’s Hope Foundation in Uniondale, the De La Salle School in Freeport and CYO–Long Island, based in Hicksville.

“These grants reflect our ongoing mission to strengthen the communities we serve,” said Joseph Tedesco, president and CEO of Ocean Financial Federal Credit Union. “By partnering with the Federal Home Loan Bank of New York, we are able to provide meaningful financial support to organizations that play a vital role in helping individuals and families during challenging economic times.”

The Small Business Recovery Grant Program enables FHLBNY member institutions, such as Ocean Financial, to provide grants of up to $10,000 to qualifying small businesses, farms, and nonprofit organizations facing economic challenges related to inflation, rising energy costs, supply-chain constraints, and today’s interest rate environment.

For more information about the Federal Home Loan Bank of New York’s Small Business Recovery Grant Program, visit: fhlbny.com/community/sbrg/program-overview