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New round of NCUA grants for CDFI certification announced: Join 5/29 webinar to learn more
(May 28, 2014) — Based on the success of the the National Credit Union Administration’s first ever grants for CDFI certification earlier this year, an additional round of grants of $2,500 each will be made to as many as 60 credit unions seeking CDFI certification. Applications must be submitted between June 2 – June 30, 2014.
The National Federation of Community Development Credit Unions, along with national and state credit union leaders, has campaigned to significantly increase the number of credit unions with CDFI certification, and applauds the NCUA for making an additional round of grants available specifically for certification. CDFI certification is one of the building blocks for sustainable growth in low-income communities, and the CDFI Fund is one of the most important sources of capital for credit unions serving predominantly low-income consumers and financially underserved communities. The Federation’s certification campaign is succeeding. By the end of 2014, credit unions are projected to account for nearly one-third of the CDFI industry!
Given the importance of CDFI certification to the Federation’s mission of helping low-income people achieve financial independence through credit unions, the Federation has priced 2014 CDFI certification engagements at $2,500 for applications based on Investment Area or Low-Income Targeted Population target markets. Our nationally recognized consulting arm, CU Breakthrough, uses a CDFI tested methodology that greatly streamlines the process and significantly reduces the amount of data a credit union must produce.
Our team is already working with the vast majority of credit unions awarded a TAG for CDFI certification under the first NCUA funding round. Credit unions interested in this funding opportunity should contact us as soon as possible at CUBreakthrough@cdcu.coop. We strongly recommend you attend our CDFI Certification webinar on May 29th to learn more about the CDFI certification application and our methodology. Registration for this webinar is free, but space is limited. Reserve your seat today.
| About the Federation: The National Federation of Community Development Credit Unions (Federation) is a certified CDFI Intermediary representing community development credit unions (CDCUs). The Federation’s member CDCUs provide credit, savings, transaction services and financial education to more than 2.5 million residents of low-income urban, rural and reservation-based communities across the United States, and hold over $22 billion in community-controlled assets. Founded in 1974, the Federation is headquartered in Lower Manhattan with offices in Madison, WI. The Federation offers a wide range of advocacy, educational, training, investment, marketing, and outreach programs to support and assist CDCUs. For more information about the Federation and its programs, please visit: www.cdcu.coop. |