LOCAL Commitee. cdfi funds

11/07/2023

Washington, DC – Today, Vice President Kamala Harris and Deputy Secretary of the Treasury Wally Adeyemo announced that the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded over $1.73 billion in grants to 604 Community Development Financial Institutions (CDFIs) across the country through the CDFI Equitable Recovery Program (CDFI ERP). These funds will strengthen the ability of CDFIs to help low- and moderate-income communities recover from the COVID-19 pandemic and invest in long-term prosperity.

07/14/2023

As we get deeper into 2023, I have heard from many of you asking when the application periods for the CDFI Fund’s various programs will open. I understand that in this difficult economic climate our programs are needed now more than ever. I also understand concerns that I have heard about the possibility that CDFIs and other community development organizations may have to work on multiple applications at the same time. In total, the CDFI Fund will have eight program rounds to administer over the course of this year—our six existing programs; the new Small Dollar Benefits Program (SDLProgram); and the $1.25 billion CDFI Rapid Response Program (CDFI RRP) for COVID-19 pandemic relief. In addition, we are also partnering with AmeriCorps on the Economic Mobility Corps, and taking initial steps to develop the new Minority Lending Program.

07/06/2023

The Community Development Financial Institutions Fund (CDFI Fund) is releasing fiscal year (FY) 2021 data, which was reported in FY 2022 by active Community Development Financial Institutions (CDFI) Program and Native American Community Assistance (NACA) Program Financial Assistance (FA) Recipients via the CDFI Fund’s data collection system, known as the Annual Compliance and Performance Report (ACPR).

The release contains public Transaction Level Report (TLR) data detailing how CDFI Program and NACA Program FA Recipients provide loans and investments in low-income communities. The data file includes the features and locations of over 222,000 individuals and investments totaling more than $26 billion made in FY 2021 and reported in FY 2022 by 398 CDFIs.1

Additionally, the CDFI Fund is releasing to the public Consumers Report (CR) data detailing the methods by which CDFI banks and credit unions with CDFI and NACA Program Awards provided consumer in low-income communities. The data file includes over 700,000 consumers totaling more than $12 billion that were made in FY 2021 and reported in FY 2022 by 136 banks and credit unions.2

Data Background

As part of their compliance requirements, CDFI Program and NACA Program Active Financial Assistance Award Recipients are required to submit information through the CDFI Rapid Response Program (CDFI RRP).

All TLR and CLR data released to the public are masked to protect the identity of individual CDFIs.

06/08/2023

There’s a saying that the worst of times reveal one’s true colors. This goes for individuals, but it’s also true of governments and policymakers. During the tumultuous past years, the federal government stepped in to support vulnerable Americans and communities, including a record $12 billion1 in funding for community development financial institutions (CDFIs) through COVID-19 emergency assistance appropriations.

12/14/2022

12/12/2022

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