CDFI Certification–the Next Steps for Low-Income Designated Credit Unions
Date: Thursday, May 29, 2014
Time: 3:00 pm – 4:00 pm Eastern/2:00 pm – 3:00 pm Central
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 with a mission to serve the underserved. The Federation’s certification campaign is succeeding. By the end of 2014 credit unions are projected to account for nearly one-third of all certified CDFIs!
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, has developed a streamlined methodology to increase the efficacy of the certification application.
CU Breakthrough consultants are available to assist interested credit unions submit a TA grant application for CDFI certification and can be reached at CUBreakthrough@cdcu.coop. Attend our CDFI Certification webinar on May 29th to learn more on how to take this important next step in building financial independence in your community.
Registration for this webinar is free, but space is limited. Reserve your seat today.