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FY 2018 Funding Round for CDFI & NACA Program Open for CUs

by Ken Anderson | Mar 28, 2018
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year 2018 funding round for the CDFI Program and Native American CDFI Assistance Program (NACA Program).

$196.5 million available for Technical & Financial Assistance Grants

The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year 2018 funding round for the CDFI Program and Native American CDFI Assistance Program (NACA Program).

The awards from these programs will support CDFIs providing affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services. CDFI-certified credit unions are eligible to compete for Technical Assistance grants of up to $150,000, Financial Assistance grants of up to $1 million, and Healthy Food Financing grants of up to $5 million.

The National Federation of Community Development Credit Unions can help you navigate the cumbersome application process. They have developed a methodology to obtain certification for credit unions based on a statistically valid random sampling of borrower’s income data. Using this streamlined process, the Federation has assisted more than 100 credit unions with CDFI certification or re-certification.

Please keep in mind the following important dates:

  • April 2, 2018, by 5:00 PM ET: Last Day the CDFI Fund Will Answer Questions About the Application
  • April 4, 2018, by 11:59 PM ET: Deadline for Submitting FA/TA Application through AMIS

Get more information.

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