Intake period to qualify for streamlined CDFI application runs Jan. 13 to Feb. 9
ALEXANDRIA, VA (January 3, 2019) — Federally insured, low-income credit unions that want to become certified Community Development Financial Institutions can apply to use the National Credit Union Administration’s qualification process for streamlined CDFI certification from Jan. 13 through Feb. 9.
The agency’s Office of Credit Union Resources and Expansion hosts a resource page with details about CDFI certification and the streamlined process. The agency’s application guide has the necessary instructions for the qualification process. The Community Development Financial Institutions Fund’s webpageoffers information about the benefits of CDFI certification.
During the federal government shut down, approval of a credit union’s CDFI application by the U.S. Treasury may be delayed.
Developed by the NCUA and the CDFI Fund, the streamlined application process has helped 50 credit unions obtain certification as community development financial institutions.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.
