Treasury Extends CDCI Deadline
In a deadline shift, the U.S. Treasury has given credit unions certified as Community Development Financial Institutions until April 30 to file applications for Community Development Capital Initiative.
The previous deadline had been this Friday, April 2.
The CDCI program allows credit unions certified as CDFIs and recognized as low income credit unions to access funds at low interest rates from the Troubled Asset Relief Program.Applying credit unions have to meet standards set by NCUA and the Treasury Department to receive the funds. A series of missteps and confusion about the program had prevented significant numbers of CDCUs from applying.