NCUF to Sponsor Workshop On CDFI Program

MADISON, Wis. – The National Credit Union Foundation and the National Community Investment Fund have joined together to fund a workshop to help credit unions take advantage of a federal program. The New Markets’ Tax Credit program is an element of the Community Development Financial Institutions Fund that is considered somewhat controversial among credit unions because credit unions, particularly community development credit unions, have lacked the recourses and expertise they needed to take advantage of the program. But the NCUF, itself a CDFI, applied for funds from the Foundation to help train smaller credit unions in applying for the program. The workshop will be held May 18 as part of the NCUF’s annual meeting in Los Angeles. In part because of Foundation support, credit unions wishing to take part in the workshop will be able to do so at a cheaper rate than they might otherwise.