CDFI certifications and awards in 2021

by Moriah Taylor, CUCollaborate

CDFI Certification and How It Applies to Credit Unions

A CDFI Certification is a designation conferred by the Community Development Financial Institution (CDFI) Fund of the Department of the Treasury, specifically recognizing a financial institution as specialized in serving low-income communities and those without access to financing.

The certification is available to credit unions and makes an organization eligible to apply for awards from a wide variety of programs through the CDFI Fund. These awards allow CDFIs to finance a range of programs—including mortgage lending for first-time homebuyers, flexible underwriting for community facilities, and commercial loans for businesses in low-income areas.

To learn more about CDFI Certification, check out our article comparing CDFI Certification and CDE Certification.

About the CDFI Data

Much of this data comes from the CDFI Fund’s Searchable Award Database, which allows one to find information on awards given from 1996 to present. For a more comprehensive analysis of previous years, check out our article on the history of CDFIs.

 

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