CDFI AWARDS AVAILABLE: BY STACY S. AUGUSTINE
If better serving your moderate- to low-income members tops your credit
union’s agenda, CDFI Fund Awards can help make that happen. And
they’re not just for community-chartered credit unions either. Learn how
you can leverage such funding to enhance the financial well-being of your
underserved community.
Today, credit unions comprise 26 percent of all Community Development Financial Institutions (CDFIs) that work in market niches underserved by traditional financial institutions. Very few CDFIs are banks, while most are non- depository loan funds. This means there is real opportunity here for more credit unions to become CDFIs – particularly since credit unions are so naturally aligned with the purpose of the certification.
