Credit unions interesting in coordinating with NCUA in the agency’s streamlined Community Development Financial Institution (CDFI) certification applications process will be able to do so from June 4-22 and Sept. 10-28 this year. The agency discussed the process, and what credit unions can do with CDFI certification, during a webinar Wednesday.
Certified CDFIs are eligible to apply for awards through a variety of programs offered by the Treasury’s CDFI Fund. These awards enable CDFIs to finance a wide range of activities–including mortgage lending for first-time homebuyers, flexible underwriting for community facilities and commercial loans for businesses in low-income areas.
As of April 30, credit unions are 283 of 1,079 certified CDFIs nationwide.
To be certified, an organization must:
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