Credit union community development financial institutions (CDFIs) are crucial to the communities they serve. This is especially true as banks have been closing at a rapid rate, especially in rural and underserved areas. The National Association of Federally-Insured Credit Unions (NAFCU) is committed to ensuring that CDFIs are able to successfully operate in the underbanked communities that are typically low-income and minority populations.NAFCU has been tirelessly advocating for credit union CDFIs so they are not left out of the conversations happening on Capitol Hill. This CDFI Issue Brief is intended to shed light on the great work that CDFIs do while also informing you of the advocacy efforts underway to ensure their work can continue. The goal is to help readers better understand what a CDFI is and what NAFCU is doing to guide legislation and regulations favorable to CDFIs. NAFCU will continue to update this Issue Brief to provide readers insight into CDFI developments most meaningful to credit unions.
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