Credit unions that are currently qualified as community development financial institutions (CDFIs), or credit unions interested in becoming CDFIs, have until March 17 to submit applications to the U.S. Treasury for financial assistance and technical assistance through its CDFI Program.
Approximately $30 million should be available for such assistance during FY 2003. Treasury said the funding is designed to "address community development finance needs in Hot Zones, to increase affordable homeownership and employment opportunities, and to expand the availability of financial services to individuals who have no prior relationships with financial institutions."
For more info: Contact the National Federation of CDCUs at 800-437-8711.
- From CU Journal Reports.