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A webinar slated for 2 p.m. Eastern May 16 will walk credit unions through the process of becoming a designated Community Development Financial Institution (CDFI). Earlier this year, NAFCU's lobbying efforts secured full funding of $250 million for the Treasury Department's CDFI Fund.

NAFCU urged Congress to fully fund the program to ensure credit unions can continue to provide financial stability for low-income members and their families, as CDFI credit unions predominantly serve low-income areas and are often the only financial services option.

The association has also met with the Treasury Department to discuss the importance of this program. In 2016, the NCUA and Treasury signed a memorandum of understanding to facilitate increased credit union involvement in the fund, with the aim of doubling the number of CDFI-certified credit unions.

Those credit unions interested in registering for the webinar, "Benefits of CDFI Certification," hosted by the NCUA, can do so here. Webinar participants include: Ikenna Nwankpa, Community Development Revolving Loan Fund program officer; Pamela Williams, Minority Depository Institutions program manager with the NCUA’s Office of Credit Union Resources and Expansion; Michelle Dickens, associate program manager of Certification, Compliance Monitoring, and Evaluation with the Community Development Financial Institutions Fund; and Terry Katzur, executive vice president of ELGA Credit Union, Burton, Mich.

This is the second of five webinars put on by the NCUA's Office of Credit Union Resources and Expansion. Future webinars will cover the agency’s 2018 grant initiatives and understanding the National Credit Union Share Insurance Fund.