WASHINGTON (9/21/12)--The U.S. Treasury Department has announced new training under its Community Development Financial Institutions Fund (CDFI Fund) intended to strengthen small and emerging CDFIs, especially those serving specific regions of persistent poverty that are traditionally underserved by financial institutions.
The new training series is called "Strengthening Small and Emerging CDFIs" and will provide training and technical assistance, including "comprehensive capacity building services and resources…tailored to CDFI needs and the communities they serve."
The goal of training is to fill gaps in CDFI coverage in underserved communities across the country, the announcement said. Opportunity Finance Network (OFN) is the selected provider of the series.
OFN will also identify underserved areas, including areas of persistent poverty such as Appalachia, the Colonias along the U.S.-Mexico border, and the Mississippi Delta, and provide specific, proactive suggestions for filling gaps of services through product development and collaborations with strategic partners.
CDFI Fund Director Donna J. Gambrell said, "The targeted training and technical assistance that we're providing through this series will ultimately enable these CDFIs to increase their impact and bring quality financial products and services to communities across the country."
In August, Treasury announced it awarded a total of $186,853,456 to 210 CDFI organizations serving low-income communities, including credit unions or credit union organizations, as it closed it fiscal year 2012 grants and awards program.