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The Treasury’s Community Development Financial Institutions (CDFI) Fund announced this week it anticipates that it will resume accepting CDFI Certification Application submissions in the fall of 2023. It paused accepting new applications Oct. 1, 2022 and was expected to resume in April.
The fund is in the process of updating its certification process, and CUNA is concerned the changes as proposed would exclude “significant swaths” of community-focused credit unions. The CDFI Fund announced in January it would delay proposed changes after strong CUNA, League, and credit union engagement.
The CDFI Fund expects to take the following steps over the next several months: