There currently are 312 credit unions certified as a Community Development Financial Institution (CDFI), with combined assets of almost $134 billion and serving more than 12 million predominantly low income and minority consumers across the nation. Many more credit unions are eligible as they operate in CDFI target markets and offer products and services relevant to those communities. Nearly 700 credit unions are in what we call the “CDFI zone” Are you one of them?
This certification makes credit unions eligible to participate in and/or to receive financial assistance and technical assistance awards as well as to receive deposits from institutions participating in the Bank Enterprise Award Program. In addition, the certification provides access to a growing number of programs offered by other agencies, such as participation in the loan guarantee program offered by the Bureau of Indian Affairs. Certification also provides certain regulatory exemptions, such as NCUA’s MBL limit and CFPB’s Ability to Repay and QM requirements.
The CDFI Fund is the single largest source of external resources for credit unions, providing since its inception, more than $370 million in technical and financial assistance grants to increase access to affordable lending options and responsible financial services for low and moderate income and financially underserved populations.
- Discuss building blocks of community finance
- Identify tools available to credit union
- Review eligibility requirements
- Understand the process for achieving CDFI certification
- Learn how to leverage the benefits of this credential
Register Now For On-Demand Access
Registration is complimentary, but you must register to attend.
One registration gives your entire credit union access to the on-demand recording until August 10, 2021.
Already registered? Go to the Online Training Center to view live.
Who Should Attend?
- Chief Executive Officer (CEO)
- Chief Lending Officer (CLO)
- Business Lending Staff
- Lending Staff
- This webinar doesn't qualify for any continuing education credits recognized by NAFCU or NASBA.
About Our Webinars
Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer.