Navigating the Path to CDFI Certification

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Cornerstone’s CDFI resource hub helps leaders explore CDFI (Community Development Financial Institution) certification, streamlines the flow of information, and provides collaborative opportunities for credit unions. ​

The resource hub includes videos and articles featuring Cornerstone members who have pursued certification. Hearing firsthand from leaders can offer valuable insights for peers.

Jeff Ivey, president/CEO of River City Credit Union, emphasizes it’s more than just a badge on the website.

“It’s a lot of hard work, but it’s worth it to reach our goal of making a big positive impact for each one of our members every day,” Ivey said in his video.

Diamond Lakes Federal Credit Union, led by president/CEO Tammy Passafiume, has received $6 million, vital to strengthening their community and supporting credit union growth.

Max Villaronga (pictured right) is president/CEO of Raiz Federal Credit Union. He highlights how CDFI certification has empowered Raiz FCU to make a real difference. In one case, Raiz helped a member remain in their home by adjusting loan rates, refinancing, and ensuring access to essential resources.

Read more about the CDFI experiences of your peers in the Perspectives Magazine article “Revisiting CDFI: The Strategic Move Your Credit Union Shouldn't Miss” or watch the videos on the CDFI resource hub.

Cornerstone has also created a CDFI mentor/mentee program, pairing leaders of CDFI-certified credit unions with those seeking guidance as they explore or pursue certification.

Nationally, about 11% of credit unions in 47 states, Washington, D.C., and Puerto Rico are designated as CDFI. In the Cornerstone region, about 6% of credit unions are CDFI-certified.