Federally insured, low-income credit unions seeking Community Development Financial Institution certification can apply to use NCUA’s streamlined qualification process beginning Jan. 24. The deadline for streamlined certification applications is April 3.
The proposed CDFI Certification Application is flawed and should be reconsidered, CUNA wrote to the Treasury Thursday. The Treasury’s CDFI Fund recently proposed potential revisions to the application as part of its ongoing review of policies and procedures.
NCUA opened its second application round for eligible credit unions that want to qualify to use the agency’s streamlined process for CDFI certification. Federally insured, low-income-designated credit unions can find all the necessary information in the NCUA’s online program guide. The application round closes on Oct. 17.
CUNA wrote to the House Appropriations Subcommittee on Financial Services and General Government to express concern that the administration’s budget request does not include adequate funding for the Community Development Financial Institutions Fund or the Community Development Revolving Loan Fund.
CUNA continued its push for increased CDF) funding due to COVID-19 this week, joining more than 100 organizations from around the country in sending a letter to Congressional leadership and appropriators.
CUNA joined dozens of organizations Friday in calling on Congressional leadership to appropriate $1 billion to the Treasury’s CDFI Fund. The fund provides grants, equity investments and other awards to certified CDFIs around the country.