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CU System
Federation to host CDFI webinars Wednesday
NEW YORK (4/28/09)--The National Federation of Community Development Credit Unions will host two free webinars Wednesday for Community Development Financial Institutions (CDFI). At 1 p.m. ET Wednesday, it will host a webinar for CDFI-certified credit unions that want to apply to the CDFI Fund's Fiscal Year (FY) 2009 Supplemental Round. It will address what's new in the supplemental round application process, tools from the federation to facilitate the application process and federation resources to help submit a competitive grant application. At 3 p.m. ET the federation will host a webinar for credit unions that are not yet certified as CDFIs but hope to apply for certification. It will address the value of CDFI certification for credit unions, the process to obtain the designation, and federation resources to assist with certification. Recently the U.S. Treasury Department released details for the CDFI Fund Recovery Act Implementation Plan, which will provide nearly $400 million in capital to CDFIs by year-end 2010. It is the largest pool of funds ever made available to financial institutions serving predominantly underserved communities, said the federation. The fund also has issued a Notice of Funds Availability (NOFA) for the FY2009 Supplemental Funding Rounds of its CDFI Program and Native American CDFI Assistance (NACA) Program,. The program provides an additional $63 million that will be available for financial assistance awards. The FA awards total $55 million for the CDFI Program and $8 million for NACA. The awards are open to any CDFI-certified credit union that did not submit an application under the regular FY2009 round, or those that applied only for a technical assistance award. The federation said that currently, 819 CDFIs exist. Of those, 146 are credit unions. Most are members


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