New training series designed to help Native CDFIs
WASHINGTON (10/10/14)--A new training and technical assistance series designed to help Native Community Development Financial Institutions (CDFIs) has been announced by the U.S. Treasury's CDFI Fund. As of Aug. 31, nine credit unions are part of the 71 total Native CDFIs.
The series, called "Building Native CDFIs' Sustainability and Impact," aims to foster Native CDFI growth and sustainability while enhancing their ability to deliver financial services and financial products to Native American, Alaskan Native and Native Hawaiian communities.
According to the CDFI Fund, group training and individualized technical assistance will be tailored to meet the specific needs of each participating Native CDFI.
Examples of assistance include developing lending policies and procedures; improving compliance practices; strengthening board governance practices; pursuing expansion strategies; or exploring capitalization strategies.
All certified Native CDFIs are eligible and may elect a combination of services that best suit their needs.
The credit union Native CDFIs, as of Aug. 31, are:
- Aloha FCU, Honolulu, with $26.7 million in assets;
- Choctaw (Miss.) FCU, Choctaw, with $1.9 million in assets;
- Hawaii First FCU, Kamuela, Hawaii, with $33.3 million in assets;
- HawaiiUSA FCU, Honolulu, with $1.3 billion in assets;
- Molokai Community FCU, Kaunakakai, Hawaii, with $20.4 million in assets;
- Prince Kuhio FCU, Honolulu, with $8.9 million in assets;
- The Queens FCU, Honolulu, with $52.7 million in assets;
- White Earth Reservation FCU, Mahnomen, Minn., with $1.5 million in assets; and
- Wolf Point (Mont.) FCU, with $11.5 million in assets.
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