NAFCU, Inclusiv write to NCUA on CDFI certification, OTP standard

by NAFCU Newsroom

NAFCU Senior Vice President of Government Affairs Greg Mesack joined Inclusiv Executive Vice President Pablo DeFilippi in a letter to NCUA Chairman Harper Thursday requesting assistance with the Community Development Financial Institution (CDFI) certification process based on the Other Targeted Population (OTP) standard.

The letter emphasizes that in order to become a certified CDFI under current CDFI Fund standards, an entity must direct at least 60 percent of its financial product activities to one or more approved target markets. In this case, OTP- qualifying populations are identified as:

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