CDFI credit unions have until Aug. 23 to apply for grants under Equitable Recovery Program

Credit unions designated as Community Development Financial Institutions have until Aug. 23 to apply for grants under the CDFI Fund’s Equitable Recovery Program.

The CDFI Fund is making $1.73 billion available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that need better access to financial services and were disproportionately affected by the COVID-19 pandemic. Award funds may be expended for two types of eligible activities: financial products and services and operational support.

The CDFI Fund website  has a dedicated page with information on this program, including a link to the Notice of Funds Availability, eligibility criteria, and the application requirements, process, and timelines.

The Fund also posted its  recorded pre-application webinar.

All applicants must have active accounts with the federal government’s  System for Award Management,  Grants.gov, and the CDFI Fund’s Awards Management Information System.