The Federation was instrumental in establishing the CDFI Fund in 1994, is a permanent member of the national CDFI Coalition and is the CDFI and community finance authority for the credit union industry. Its 250 member CDCUs represent 2.5 million members in low-income communities across 46 states, representing the majority of all CDFI-certified credit unions.
Why it Matters
The CDFI Fund is a unique source of capital for community development credit unions. CDFI grants can fuel growth in membership, deposits and loans in communities that are eager to join the movement toward cooperative finance.
To date, the CDFI Fund has deployed more than $1 billion to encourage the growth of community development finance, including $150 million in financial and technical assistance for CDFI-certified credit unions. Today, CDFI Certification is an essential credential for credit unions that seek a larger role in the development of their communities.
In addition to representing CDCUs’ interest through advocacy with the CDFI Fund, the Federation is also an extensive resource for credit unions interested in learning more about CDFI-certification and offers expert certification and grant writing consulting services.
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