CUNA publishes analysis of updated CDFI Certification Application
CUNA Senior Director of Advocacy and Counsel Elizabeth Sullivan posted initial analysis of the Community Development Financial Institution (CDFI Certification Application on CUNA’s Compliance Community. While it will take weeks to dig into the complete details, Sullivan notes that the application changes appear to be ultimately positive.
Credit unions about being unable to certify or inappropriately excluded appears to have been addressed, and CUNA do not anticipate significant numbers of credit unions being unable to certify as, as it was concerned with the proposed certification.
Sullivan’s post examines changes in the application, including addressing credit unions’ most important asks:
- Broadening the definition of “development services” to better recognize the effectiveness of coaching, online training, youth programs, and other services offered by credit unions; and
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