RELEASE DATE: SEPTEMBER 20, 2021
DURATION: 40 MINUTES
this program is complimentary to all
The California/Nevada Credit Union League is proud to host John Berry Jr.
John Berry, Jr is an Analyst from the National Credit Union Administration (NCUA) Credit Union Resource and Education Office (CURE). In support of the upcoming CDFI Streamlined Application Qualification Process window, John will be providing an overview of the Streamlined CDFI Certification Qualification Process. Following his presentation, attendees will be able to receive answers to any questions they may have about the process.
It is our hope that Low Income Designated Credit Unions will use this webinar as an opportunity to learn more about the process of pursuing the Community Development Financial Institution (CDFI) certification. The CDFI certification positions credit unions to be eligible for the award of grant funds from the U.S. Department of Treasury’s CDFI Fund.
WHAT IS CDFI?
Community Development Financial Institution (CDFI) Certification is a designation given by the CDFI Fund to specialized organizations that provide financial services in low-income communities and to people who lack access to financing. CDFIs include regulated institutions such as community development banks and credit unions, and non-regulated institutions like loan and venture capital funds. By building the capacity of a nationwide network of CDFIs, the CDFI Fund works to empower low-income and underserved people and communities to enter the financial mainstream.
Certified CDFIs are eligible to apply for awards through a variety of programs offered by the CDFI Fund. These awards enable CDFIs to finance a wide range of activities – including mortgage lending for first-time homebuyer’s, flexible underwriting for community facilities, and commercial loans for businesses in low-income areas. Through varying strategies, each CDFI contributes to the cultivation of a healthy and stable local economy.