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Michigan Credit Union League

Streamlined CDFI Application Round Ends May 31

Credit unions interested in using the National Credit Union Administration (NCUA)’s streamlined process for obtaining Community Development Financial Institution (CDFI) certification have until May 31 to apply.

The NCUA’s online program guide has all the necessary instructions for the qualification process.

To qualify, low-income-designated credit unions submit data on their loan originations to the NCUA by email to using the NCUA’s secured email encryption system and complete an online participation form.

The Office of Credit Union Resources and Expansion then analyzes each credit union’s products, services and other indicators to determine whether it qualifies to use the streamlined certification application. The NCUA will provide qualified credit unions with the necessary information to complete and submit the streamlined certification application to the CDFI Fund, which will make a final certification decision.

To learn more, visit the NCUA-CDFI Certification Initiative webpage.

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2020-05-26 00:00:00