ALEXANDRIA, Va. (Sept. 21, 2017) – Fifty-six federally insured credit unions will receive awards totaling $39.5 million from the Community Development Financial Institutions Fund, the National Credit Union Administration announced today.
Twenty-seven of the credit unions are first-time awardees. In 2016, 22 credit unions won awards. A list of all the awardees is available online from the CDFI Fund (opens new window).
This year, the CDFI Fund made awards with an emphasis on serving economically distressed areas, expanding opportunities in those areas, and collaboration with community partners.
More than 300 federally insured credit unions are certified as Community Development Financial Institutions.
The NCUA’s Office of Small Credit Union Initiatives has a dedicated webpage that provides comprehensive information for qualified credit unions that want to be certified as Community Development Financial Institutions. The webpage includes information on a streamlined application process OSCUI developed with the CDFI Fund.
The Office of Small Credit Union Initiatives fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions, minority depository institutions and credit unions with a low-income designation.