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The National Federation of Community Development Credit Unions is launching a concerted effort to help community development credit unions apply for money available from the Treasury’s Community Development Financial Institutions Fund.

The CDFI Fund was appropriated additional funds as part of the economic stimulus package and has been slated for additional funding in the budget for the next fiscal year, but National Federation CEO Cliff Rosenthal said that only roughly 85 CDCUs had been certified as a CDFIs and were thus eligible for CDFI funding.

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