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Michigan Credit Union League

NCUA's Streamlined CDFI Application Period Starts Jan. 13

Federally insured, low income credit unions that want to become certified Community Development Financial Institutions (CDFI) can apply to use the National Credit Union Administration’s (NCUA) qualification process for streamlined CDFI certification from Jan. 13‒Feb. 9. The agency’s Office of Credit Union Resources and Expansion hosts a resource page with details about certification and the streamlined process.

The agency’s application guide has the necessary instructions for the qualification process, and the CDFI webpage offers information about the benefits of certification.

During the federal government shutdown, approval of a credit union’s CDFI application by the U.S. Treasury may be delayed.

Developed by the NCUA and the CDFI Fund, the streamlined application process has helped 50 credit unions obtain certification as community development financial institutions.

As of Nov. 30, credit unions made up 285 of the 1,066 certified CDFIs.

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2019-01-10 00:00:00