CDFIs

The Treasury Department's CDFI Fund issued nearly $32 million to credit unions this week after providing $3.5 million in technical assistance grants earlier this year.

A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left.

The National Credit Union Administration approved a rule expanding institutions' access to nonmember deposits, but observers say it's unlikely to lead to a massive influx of new funding – at least for now.  

Credit unions now have until Nov. 30 to apply for Community Development Financial Institution certification.

With the pace of credit unions gaining CDFI certification already slowing, a change to how the Treasury Department reviews applications could have an impact on institutions receiving grants.

Along with the largest number of credit unions and cooperatives to ever receive funding in a single grant round, several Puerto Rican cooperatives also received the maximum amount available to assist with hurricane recovery efforts.

Credit union priorities could take a back seat as Congress scrambles to pass a spending package to avoid a government shutdown. Here's a look at some of the proposals that could move forward.

At this year's Inclusiv conference in Los Angeles, leaders from CDCUs across the country offered their thoughts on what could most benefit their institutions.

As the industry considers a movement-wide focus on diversity and inclusion, some at the annual Inclusiv conference say there are opportunities for credit unions to better serve immigrants and have more diverse staffs.

The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.

Seeking to expand financial services access, tribal officials and some firms want regulators to award Community Reinvestment Act credit to any bank that funds projects in Native American communities.

CDCUs provide essential financial services in underserved communities but these institutions can struggle to keep up with compliance and technology demands.

The number of minority depository institution charters is declining even as their financial performance is going up, according to a new study by the FDIC.

It's admirable that the National Credit Union Administration wants to make opening a de novo easier but organizers will still face challenges in raising the necessary funds to launch a new credit union.

Montgomery County Employees Federal Credit Union is now operating as SkyPoint Federal Credit Union.

About 100 financial institutions are owned by or work with Native Americans, yet traditional banking services remain out of reach for many in this demographic.

A new outreach effort will target parts of New York City to help boost membership at several African-American credit unions.

Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it.

Robust public discussion from a diverse array of stakeholders has informed regulators working to reform the Community Reinvestment Act, but it has also included some misleading claims, writes a top OCC official.

The bank will fund community development financial institutions that lend to women-owned businesses backed by the fashion designer's foundation.