The NCUA Office of Small Credit Union Initiatives highlights recent changes to the Community Development Financial Institution (CDFI) certification process for eligible, low-income credit unions in the January 2017 edition of the NCUA Report. Last summer, NCUA notified more than 500 low-income designated credit unions of their preliminary qualification for the streamlined CDFI Fund application. These eligible credit unions should consider becoming CDFI certified. Low-income credit unions can inquire if they meet the streamlined qualification process by contacting firstname.lastname@example.org.
CDFI-certified credit unions are also able to apply for multiple funding programs offered by the CDFI Fund in the form of financial and technical assistance grants and bond guarantee programs.. An overview of the CDFI process can be found at http://go.usa.gov/x4Erj.