$1.73B in CDFI Fund grants available to help communities recovering from pandemic
Credit unions designated as Community Development Financial Institutions (CDFIs) have until August 23 to apply for grants under the CDFI Fund’s new Equitable Recovery Program, which will provide approximately $1.73 billion in grants for CDFIs as they respond to the economic impact of the coronavirus pandemic. Of note, the CDFI Fund will host an informational webinar on the program today, beginning at 1:00 p.m. Eastern, with an additional informational webinar slated for July 7 at 3:00 p.m. Eastern; advance registration is not required to attend.
The funds, allocated for the CDFI Fund via the Consolidated Appropriations Act of 2021, are available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that are in need of better access to financial services and were disproportionately affected by the pandemic. Award funds may be expended for two types of eligible activities: financial products and services and operational support.
For more information, including the eligibility criteria, application requirements, process, and timelines, visit the CDFI Fund’s Equitable Recovery Program webpage.
CUNA Mutual Group
Add to Calendar 2022-08-18 14:00:00 2022-08-18 14:00:00 Credit Union Testimonial: How BCU is Accelerating Transformation & Expanding Financial Wellness with AI About the Webinar The global economic landscape is undergoing some major changes. High inflation, rising interest rates and uncertainties surrounding economic recession have caused some credit unions to scale back on digital transformation initiatives. This is a key time, however, for credit unions to seek new areas of opportunity to achieve their desired return targets while limiting losses. AI and machine learning models offer a more targeted approach for assessing member creditworthiness than traditional methods. Discover how your credit union can tap into personal lending opportunities and expand credit access to more borrowers quickly, with minimal upfront costs. In this webinar, Dave Brydun, SVP/Chief Lending Officer, will share how BCU grew its personal loan portfolio while limiting losses and gaining new members. This webinar will cover: How BCU originates loans digitally to acquire more borrowers, without disrupting its branch network or processes. How BCU expanded its footprint nationally while providing an optimized digital experience Discover how credit unions can use sophisticated machine learning models to more accurately identify risk and approve more applicants than traditional, credit score-based lending models. Watch the Webinar On-Demand Web NAFCU email@example.com America/New_York public
Credit Union Testimonial: How BCU is Accelerating Transformation & Expanding Financial Wellness with AI
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