The Community Development Investment Program provides capital resources to member CDCUs. With more than $55 million in assets under management, we have invested more than $90 million in CDCUs since inception, increasing their capacity to support underserved communities!
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Community Development Investment Program Accepting CDCU Applications
The Community Development Investment Program is currently accepting applications for Secondary Capital, PRIDEs and Micro-Enterprise Deposits.
To learn more about these products and to download an application, please click here.
For general inquiries, please email: email@example.com.
Rolling Applications for Nominee and Non-Member Deposits
The Federation accepts applications on a "rolling" basis on all its nominee and non-member deposits. Members no longer have to wait for the committee's meetings for decisions to be made on these deposits, instead they can apply directly to the Community Development Investment Program staff.
For more information and to download an application form, click here.
Since 1982, The Federation's "Capitalization Program for CDCUs" has helped credit unions strengthen their finances and expand their impact on low-income communities. CDCUs - like all credit unions - raise deposits which they relend to their members. But in low-income communities, raising deposits from people with little disposable income is a major challenge. Congress recognized this in 1970, when it gave low-income credit unions the exclusive right to raise deposits from "non-members" -- organizations and individuals outside the primary field-of-membership of these credit unions. To help CDCUs gather these funds, the Federation launched the Capitalization Program.
In 2007, the Capitalization Program celebrated its 25th anniversary. Marking this important milestone, the Federation launched a capital campaign to raise an additional $25 million to invest in CDCUs across the country. As part of this campaign, the program focus has been redirected to bring maximum impact to our members, and rebranded itself as the Community Development Investment Program.
Learn more about our 25th Anniversary Capital Campaign by clicking here.
Over the past 25 years, many foundations, banks, religious organizations, and other institutions have invested in local CDCUs through this program. The Ford Foundation, John D. and Catherine T. MacArthur Foundation, Mennonite Mutual Aid, Bank One, JPMorgan Chase, Bank of America, and the federal CDFI Fund are just a few of our investors.
Today, the Federation has more than $50 million in assets under management, with 80% deployment of our investments in more than 120 different CDCUs. We have become a virtual "one-stop-shop" for credit unions seeking funds to expand their activities: we provide not only deposits, but loans (secondary capital) and grants.
Inside Community Development Investments