Forum provides unique opportunity for CDFI-certified and Low Income Designated credit unions to learn more about CDFI Fund Initiatives and how they relate to the industry
WASHINGTON – The National Federation of Community Development Credit Unions (the Federation) and the Credit Union National Association (CUNA) have teamed up to grow the number of credit unions participating in Community Development Financial Institution (CDFI) Fund programs. At CUNA's upcoming Governmental Affairs Conference, the Federation will lead a round table to review the process of becoming a certified or re-certified CDFI, with a special emphasis on the newly released certification requirements. The round table will also explore new programs, long-term investment prospects from the Fund, and opportunities to shape the Fund’s agenda moving forward.
The session is open to all current and potential Low Income Designated credit union leaders that have an interest in exploring how to make CDFI Fund investment opportunities work for their credit union.
The round table will feature representatives from the CDFI Fund, U.S. Treasury Department, the Federation, and CEOs from credit unions sharing best practices and sustainable approaches to leveraging CDFI certification. Other topics include:
- The long term prospects for the CDFI industry
- The newly released regulations for the CDFI Bond Guarantee Program
- Opportunities to demonstrate community development outcomes
"CDFI certification is a valuable tool that, together with the low-income designation, gives qualifying credit unions access to external resources and partnership opportunities that can significantly strengthen internal capacity to propel a credit union to its next phase of growth and relevance," said Pablo DeFilippi, director of membership at the Federation. "The Federation is committed to helping credit unions gain access to the resources they need to better serve low-income consumers and underserved communities."
The Federation was instrumental in the campaign that established the CDFI Fund, and credit unions have received more than $135 million in awards since its inception. There are now more than 220 CDFI-certified credit unions, with collective assets of more than $13 billion, providing services to nearly 2 million primarily low-income consumers. Last year, the Federation assisted in preparing award-winning applications for six credit unions, representing more than 40 percent of total CDFI funds awarded.
Thanks to the recent efforts by NCUA, the number of Low Income Designated credit unions has increased substantially. CDFI-certified and low-income-designated credit unions could soon represent as much as a third of the entire credit union system.
Space is limited. Register online today for this must-attend event:
CDFI Credit Union Round Table
Monday, February 25, 2013; 12-1:30 p.m.
2013 CUNA Governmental Affairs Conference
Walter E. Washington Convention Center
Room 202 B
801 Mount Vernon Place NW
Washington, DC 20001
http://events.r20.constantcontact.com/register/event?oeidk=a07e6ynhp4u9dc3d63b&llr=ktshzucab
Attending the conference? For more information on low-income designation, stop by the Federation's booth!
About the Federation
The Federation supports the efforts of member credit unions through advocacy, access to capital and specialized training programs. The Federation is the only credit union organization that specializes in serving community development credit unions, which serve low- to moderate-income communities. The Federation has been a leader in the national CDFI movement since its inception in 1995.
The National Federation of Community Development Credit Unions was established in 1974 by a coalition of credit union leaders dedicated to revitalizing low-income communities. The Federation seeks to strengthen those credit unions that serve low-income, urban and rural communities nationwide by advocating for members, as well as providing training and resources. For more information, visit http://www.natfed.org.