On its YouTube channel, the NCUA posted a new five-part series of videos Friday that explains howcredit unions can become certified as a Community DevelopmentFinancial Institution (CDFI) to access new capital.
“Our goal is to promote awareness of the benefits of the CDFIfund programs to credit unions that serve the underserved,” DianeRector, training manager for the NCUA's Office of Small CreditUnion Initiatives, said.
The NCUA said CDFI certification has been the doorway to thelargest source of non-deposit capital for credit unions. Since itsfirst funding cycle in 1996, CDFI has distributed $159 million to159 credit unions, according to the NCUA.
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