Announcing a New Funding Round for Secondary Capital
Applications will be reviewed on a rolling basis through May 19, 2017
The Federation has launched the next funding round of Community Development Investment (CDI) Program Secondary Capital to expand innovative credit union services to new and emerging markets. Join us for a webinar on April 19th to learn how your credit union can use a secondary capital loan of up to $2 million to launch high impact community development products in your community.
Secondary Capital: A Tool to Increase Community Impact
Wednesday, April 19, 2017
2:00 – 3:00 pm ET
About Secondary Capital
Secondary Capital is a subordinated loan that can be counted towards a credit union’s net worth and can be leveraged by growing CDCUs to expand safe and affordable lending to local communities.
The Federation offers two secondary capital loan products, Secondary Capital I and Secondary Capital II:
- The Federation makes Secondary Capital I loans of up to $500,000 with maturities of 5-7 years and interest rates of between 5%-6%.
- For qualifying credit unions, the Federation offers Secondary Capital II loans of up to $2 million with maturities of 5-7 years and interest rates of between 3.25%-3.75%.
How to Apply
All applications are on the Federation’s website, www.cdcu.coop. All credit unions may apply, but only Federation members in good standing may receive funding. Electronic submissions of completed applications are preferred; however, applications may be mailed to the Federation at 39 Broadway, Suite 2140, New York, NY 10006 or faxed to 212-809-3274. If you have questions about your application, please contact us at firstname.lastname@example.org or call Cathi Kim at 800-437-8711 or 212-809-1850, ext. 271.
Only low-income designated credit unions may hold Secondary Capital loans. For more detail about Secondary Capital loans, please refer to NCUA regulations at:
Register for the Secondary Capital Webinar today at https://register.gotowebinar.com/register/6475918260771240451
About the Community Development Investment Program
The CDI Program provides capital resources to its member CDCUs seeking funds to increase liquidity, boost net worth, mitigate risk and introduce innovative products. The CDI Program has invested more than $120 million in CDCUs since its inception in 1982.