What are the Benefits of CDFI Certification for Credit Unions?
CDFI Certification makes a credit union eligible to apply for both financial and technical assistance grants, as well as allowing access to training and support, through the CDFI Fund's various awards programs.
The CDFI Bond Guarantee Program, which provides full guarantees on any bonds issued, giving institutions long-term credit at below-market interest rates.
Financial Assistance awards and Technical Assistance grants from the CDFI Program to help CDFIs grow, achieve organizational sustainability, and contribute to the revitalization of the communities they serve.
The Capacity Building Initiative, which offers training and direct technical assistance to any certified organizations on better serving distressed communities.
The Capital Magnet Fund, providing grants towards financing affordable housing and community revitalization efforts in low-income communities.
The Native American CDFI Assistance (NACA) Program, which offers Financial Assistance awards and Technical Assistance grants for Native CDFIs.
The Small Dollar Loan Program, which provides grants for Loan Loss Reserves as well as Technical Assistance to help CDFIs establish small dollar loan programs to help unbanked and underbanked populations build credit, and access affordable capital.