CDFI Fund Offering $1.73B to Help Communities Recover from Pandemic

Credit unions designated as Community Development Financial Institutions (CDFIs) have until August 23 to apply for grants under the CDFI Fund’s Equitable Recovery Program.

The CDFI Fund is making $1.73 billion available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that need better access to financial services and were disproportionately affected by the COVID-19 pandemic. Award funds may be expended for two types of eligible activities: financial products and services and operational support.