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Association Affiliate DGEFCU Named 2017 CDFI Fund Awardee

Fri, Sep 22, 2017

Fifty-six federally insured credit unions will receive awards totaling $39.5 million from the Community Development Financial Institutions Fund, the National Credit Union Administration announced Thursday. Among the awardees is member credit union DC Goverment Employees FCU.

This is part of a larger funding round from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). Over 300 Community Development Financial Institutions (CDFIs) received $208.7 million in awards.

Twenty-seven of the credit unions are first-time awardees. In 2016, 22 credit unions won awards. A list of all the awardees is available online from the CDFI Fund.

This year, the CDFI Fund made awards with an emphasis on serving economically distressed areas, expanding opportunities in those areas, and collaboration with community partners.

More than 300 federally insured credit unions are certified as Community Development Financial Institutions.

The NCUA’s Office of Small Credit Union Initiatives has a dedicated webpage that provides comprehensive information for qualified credit unions that want to be certified as Community Development Financial Institutions. The webpage includes information on a streamlined application process OSCUI developed with the CDFI Fund.