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September 24, 2014

CDFI Fund opens 2015 round with $201M

The Community Development Financial Institutions Fund is inviting applications from credit unions and other institutions that qualify as CDFIs for up to $201 million in grants during its fiscal year 2015 funding round.

The fund, which is administered by the Treasury Department, is making financial assistance and technical assistance grants available, allocated as follows:

  • $151 million for CDFI Program awards, through Financial Assistance awards and Technical Assistance grants;
  • $35 million for Healthy Food Financing Initiative Financial Assistance awards; and,
  • $15 million for Native American CDFI Assistance Program awards.

Credit unions designated by NCUA as low-income automatically qualify to seek assistance from the CDFI Fund, but they must have CDFI certification to apply. As of the second quarter of 2014, there are 2,074 federally insured credit unions designated as low-income.

The deadline for applications for the CDFI and NACA Programs is Nov. 24, noon Eastern time, but the CDFI Fund strongly recommends applications be submitted at least three days before the deadline.

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