Streamlined CDFI Application Qualifying Round Opens Sept. 12

As announced in an NCUA Press Release, federally insured, low-income credit unions seeking a Community Development Financial Institution certification can apply for the National Credit Union Administration’s streamlined qualification process between Sept. 12 and Oct. 15. 

“CDFI certification is an important tool eligible credit unions can use to expand opportunity for their members and communities,” NCUA Chairman Todd M. Harper said. “Credit unions can use CDFI funding to build capacity and develop new products and services to meet the credit and savings needs of consumers, especially those of modest means. I encourage all eligible credit unions to apply.”

To qualify, low-income-designated credit unions must register in the NCUA’s CyberGrants system and complete an online Participation Form. The NCUA’s Office of Credit Union Resources and Expansion will review each credit union’s products, services, and other indicators to determine whether the credit union qualifies for the streamlined certification application.