May 20, 2014

Webinar May 22 on CDFI bond guarantee program

May 21, 2014 – Credit unions can learn how to apply to participate in the Community Development Financial Institutions Bond Guarantee Program during the program's webinar slated Thursday at 2:30 p.m. Eastern.

Guarantee applications are due June 30.

Up to $750 million in bond guarantee authority is available from the program in financial year 2014. The webinar will focus on the application review process, evaluation criteria, restrictions, costs, and reporting requirements.

Any credit union with NCUA's low-income designation is eligible for the Treasury Department's CDFI designation. Information on how to become certified in order to apply for the bond guarantee program is available on the CDFI Fund's website.

"The CDFI Fund specifically encourages certified Community Development Financial Institutions, community development trade groups and associations, and others interested in community economic development finance who may be interested in submitting either a Qualified Issuer or Guarantee Application this fiscal year to view the webinar," the CDFI Fund said in an announcement.

The bond proceeds may go to various community-oriented projects, such as low-income housing, businesses giving jobs to low-income workers, or commercial facilities promoting community revitalization and stability.