NCUA’s streamlined CDFI process available for CUs June 4-22

NCUA headquarters

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:

 

continue reading »

More News