As a benefit of membership in the New York Credit Union Association, credit unions considering CDFI certification can learn more about what it means to be a CDFI as well as what is involved the certification process (both the streamlined and standard application process), in a complimentary webinar at 3 p.m. on Monday, Sept. 20.
The timing of this session is key, as federally insured, low-income credit unions seeking CDFI certification can apply for the NCUA’s streamlined qualification process between Sept. 12 and Oct. 15, as previously reported.
Webinar speakers will include:
- Chriselle Martinez, PhD, CDFI program director at Inclusiv, who brings an extensive background in community development with a central focus on credit union community and partnership development; and
- Terry Ratigan, senior consultant at Inclusiv, who provides expertise on CDFI certification, recertification, grant writing, and strategic planning for CDCUs around the country.
Interested participants can register for this event on the Association’s website. Additional information about the NCUA’s streamlined qualification can be accessed on the NCUA website.
CDFI certification
To qualify for CDFI certification, low-income-designated credit unions must register in the NCUA’s CyberGrants system and complete an online participation form. The NCUA’s Office of Credit Union Resources and Expansion will review each credit union’s products, services and other indicators to determine whether the credit union qualifies for the streamlined certification application.
Credit union professionals can access the NCUA’s online program guide, which includes instructions for the streamlined qualification process. It was developed through a joint effort by the agency and the CDFI Fund.
Credit unions that do not qualify to use the streamlined process may still pursue the CDFI certification through the standard application.
CDFI resources
CUNA Mutual Group is collaborating with Inclusiv to help raise credit union awareness and utilization of the CDFI program.
- Inclusiv/CUNA Mutual Group office hours: Need guidance on CDFI certification? Sign up for the Wednesday 3 to 4 p.m. office hours where the Inclusiv staff will provide an overview and answer questions pertaining to CDFI certification. Every third Wednesday of the month, the office hour will be dedicated to MDIs (Sept. 15, Oct. 20 and Nov. 17).
- Rapid Response Program webinar: Financial Audits Vs. A-133 Single Audits: Here is a link to the recording and key takeaways. The passcode is: gzFA1t#L.
- For more CDFI certification resources check out the Inclusiv CDFI Support webpage.
