WASHINGTON (4/14/09)—Credit unions interested in Community Development Financial Institution (CDFI) certification should note the U.S. Treasury Department will be conducting a series of conference calls on the subject. The information sessions, starting this week, are intended to provide a forum for credit unions and other potential CDFI applicants to ask questions directly of CDFI Fund staff about becoming certified. The Treasury Department's CDFI Fund helps locally based financial institutions offer small business, consumer and home loans in communities and populations that lack access to affordable credit. CDFIs are financial intermediaries such as certain credit unions, banks, loan funds, venture capital funds, corporation-based lenders and microenterprise development loan funds. To become certified, Treasury says an organization must: be a legal entity, have an eligible primary mission, be a financing entity, serve an eligible target market, be accountable to the target market, provide corresponding development services, and not be controlled by a government entity. Among other benefits, CDFI certification allows participants to apply for financial assistance through the CDFI Program. The 60-minute information sessions are scheduled for:
* April 16 at 2 p.m. EST; * May 21, 2 p.m. EST; * June 18, 2 p.m. EST; and * July 16, 2 p.m. EST.
To access any of the conference calls, participants must call (202) 927-2255 and enter in the pin number 315646. No prior registration is necessary. The phone number and pin number are the same for all of the conference calls. Use the resource link below for more information about CDFI certification eligibility and the application process.