CDFIs

In light of the recent disbursement of nearly $40 million in grants to credit unions from The Treasury Department’s Community Development Financial Institutions Fund, Credit Union Journal surveyed some credit unions which have received CDFI grants in the past to find out how these funds are being used.

Credit unions have received a total of nealry $291 million since the CDFI Fund was created.

The third-largest U.S. metropolis is entrusting $20 million to Illinois Service Federal Savings & Loan Association, the city’s treasurer, Kurt Summers, announced Monday.

The agency awarded grants in three areas: digital security, leadership development and technology aimed at enhancing a CU's capacity to serve the underserved.

It is the largest equity investment that Clearinghouse CDFI has received in its two-decade history.

Credit unions have from Aug. 1 to Sept. 7 to apply to become a community development financial institution.

A report quietly released by the Treasury Department says there is “clear evidence” that a program President Trump wants to cut helps recipients provide financial services to the most underserved communities.

Credit unions in Alabama and Louisiana announce conversion to first-ever core system designed specifically for CDFIs.

A total of $2 million in grant funding will be available through the regulator's Office of Small Credit Union Initiatives.

Despite an effort by the Trump administration to defund government aid for community development financial institutions, the Senate approved a budget deal that included $258 million in funding for the CDFI fund.