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NCUA Makes CDFI Grants Available

For the first time, NCUA will make money available to low-income credit unions applying for Community Development Financial Institution status from Treasury's CDFI Fund. The approval process can be lengthy.

By David Morrison | Updated on December 11, 2013

For the first time, NCUA will make money available to low-income credit unions applying for Community Development Financial Institution status from Treasury’s CDFI Fund. The approval process can be lengthy.

“These grants will help America’s low-income credit unions remain viable and respond to the evolving needs of their members,” NCUA Board Chairman Debbie Matz said in a release. “The funding to assist low-income credit unions in qualifying for a CDFI certification is a welcome addition to NCUA’s long-standing grant program. CDFI-certified financial institutions have access to additional capital, which can help them create jobs and promote financial stability in some of our nation’s most underserved communities.”

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