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Empowering America's ECONOMICALLY Distressed Communities

What does the CDFI Fund Do?

The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation’s most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. These mission-driven organizations are encouraged to apply for CDFI Certification and participate in CDFI Fund programs that inject new sources of capital into neighborhoods that lack access to financing.

Each business financed, each job created, and each home built represents a critical step in the transformation of a life, a family, and a community. This is real change. This is the CDFI Fund. Discover More >

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Click here to learn how to find CDFIs and CDEs that are providing services in your community.

 

 

Bank Enterprise Award Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=1Bank Enterprise Award ProgramThe BEA Program provides awards to FDIC-insured institutions for eligible investments. The BEA Program provides awards to FDIC-insured institutions for eligible investments. /programs-training/Programs/bank_enterprise_award/Pages/default.aspx
CDFI Bond Guarantee Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=5CDFI Bond Guarantee Program The CDFI Bond Guarantee Program is a source of long-term, patient capital for CDFIs. The CDFI Bond Guarantee Program is a source of long-term, patient capital for CDFIs. /programs-training/Programs/cdfi-bond/Pages/default.aspx
CDFI Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=6CDFI ProgramThe CDFI Program provides Financial and Technical Assistance awards to CDFIs./programs-training/Programs/cdfi-program/Pages/default.aspx
Capacity Building Initiativehttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=2Capacity Building Initiative The Capacity Building Initiative is a source of training and technical assistance for CDFIs. The Capacity Building Initiative is a source of training and technical assistance for CDFIs. /programs-training/training-ta/Pages/default.aspx
Capital Magnet Fundhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=3Capital Magnet FundThe Capital Magnet Fund encourages the development of affordable housing in low-income communities.The Capital Magnet Fund encourages the development of affordable housing in low-income communities./programs-training/Programs/cmf/Pages/default.aspx
Native Initiativeshttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=7Native InitiativesThe Native Initiatives provides awards, training, and technical assistance to CDFIs serving Native Communities.The Native Initiatives provides awards, training, and technical assistance to CDFIs serving Native Communities./programs-training/Programs/native-initiatives/Pages/default.aspx
New Markets Tax Credit Programhttps://www.cdfifund.gov/Lists/CDFI Program Areas/DispForm.aspx?ID=8New Markets Tax Credit Program The New Markets Tax Credit encourages economic and community development in low-income communities. The New Markets Tax Credit encourages economic and community development in low-income communities. /programs-training/Programs/new-markets-tax-credit/Pages/default.aspx

Impact We Make

The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is to economically empower America’s underserved and distressed communities.

View the CDFI Fund's Blog

 Announcements

 

 

Treasury Guarantees $265 Million in Bond Funding for Projects in Low-Income Communitieshttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=232Treasury Guarantees $265 Million in Bond Funding for Projects in Low-Income Communities<p><strong>Washington, DC</strong>—the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that two bonds, totaling $265 million, were issued on behalf of four CDFIs in fiscal year (FY) 2016. A total of $1.11 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program, which provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities.</p><p>“Reaching the $1 billion mark in program commitments demonstrates how valuable the CDFI Bond Guarantee Program has become to communities in need of access to long-term capital,” said CDFI Fund Director Annie Donovan. “CDFIs are proving to be adept at utilizing this important financing tool.”</p><p>The FY 2016 program participants include:</p><ul><li><p><b>Community Reinvestment Fund, USA</b> issued a $165 million bond on behalf of three Eligible CDFIs:</p><ul><li><p><i>Capital Impact Partners,</i> headquartered in Arlington, VA, received a $40 million bond loan to finance licensed senior living and long-term care facilities, commercial real estate, rental housing, healthcare facilities, and charter schools.</p></li><li><p><i>Low Income Investment Fund</i>, headquartered in San Francisco, CA, received a $50 million bond loan to finance daycare centers, licensed senior living and long term care facilities, commercial real estate, rental housing, healthcare facilities, and charter schools.</p></li><li><p><i>The Reinvestment Fund</i>, headquartered in Philadelphia, PA, received a $75 million bond loan to finance small businesses, daycare centers, commercial real estate, rental housing, and healthcare facilities.</p></li></ul></li><li><p><b>Bank of America</b> issued a $100 million bond on behalf of <i>Self-Help Ventures Fund.</i> Self-Help Ventures Fund is headquartered in Durham, NC, and will use the bond loan to finance commercial real estate and charter schools.</p></li></ul><p>Established by the Small Business Jobs Act of 2010, the CDFI Bond Guarantee Program responds to a critical market need—low-cost capital to spur economic growth and jump start community revitalization. Under the program, Qualified Issuers (CDFIs or their designees) apply to the CDFI Fund for authorization to issue bonds worth a minimum of $100 million in total. The bonds provide CDFIs with access to substantial long-term, fixed-rate capital to reignite the economies of distressed communities. </p><p>The program enables CDFIs to execute large-scale projects, including the development of commercial real estate, housing units, charter schools, daycare or healthcare centers, and rural infrastructure projects. </p><p><b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2.2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $1.1 billion has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the <a href="/Documents/CDFI_Brochure%20Updated%20Jan2016.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  </p> 2016-09-28T04:00:00ZPress Releases232
U.S. Treasury Awards $185 Million for Community Development in Low-Income Communitieshttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=231U.S. Treasury Awards $185 Million for Community Development in Low-Income Communities<p> <i>Funds Support CDFI Investment and Revitalization Activity in Distressed Urban, Rural and Native Communities</i></p><p> <b>Washington-</b>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 196 Community Development Financial Institutions (CDFIs) $185.7 million in grants and loans today. The awards, through the fiscal year (FY) 2016 rounds of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs and Native CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.</p><p>“With today’s awards, the CDFI Fund has crossed the $2 billion threshold in collective investments to CDFIs and Native CDFIs through the CDFI and NACA Programs,” said CDFI Fund Director Annie Donovan. “This milestone underscores the transformative impact CDFIs are having in low-income, distressed, and underserved communities and areas of persistent poverty. In businesses financed, real estate developed, affordable housing constructed and improved access to the financial system, CDFIs are empowering change and revitalization in their communities.”</p><p>For the FY 2016 CDFI Program round, the CDFI Fund awarded $170.2 million in Financial Assistance and Technical Assistance to 158 organizations in 48 states, including the District of Columbia. This also includes $22 million awarded to nine CDFIs through the Healthy Food Financing Initiative Financial Assistance awards (HFFI-FA). A total of 457 applications were received requesting more than $675 million under this round of the CDFI program. </p><p>The CDFI Fund awarded $15.5 million in FY 2016 NACA Program Financial Assistance and Technical Assistance to 38 organizations. The program facilitates the creation and advancement of Native CDFIs. Organizations funded through the NACA Program serve a wide range of Native American, Alaska Native, and Native Hawaiian communities (Native Communities), and reflect a diversity of institutions in various stages of development, including: organizations in the early planning stages of CDFI formation; tribal entities working to certify an existing lending program; and established Native CDFIs in need of further capacity building assistance. A total of 61 applications were received requesting $38 million for the FY 2016 round, which was the CDFI Fund’s 15th round of funding with awards specifically for Native Communities. </p><p>View the full lists of FY 2016 CDFI Program and NACA Program awardees below. Additional information about the awardees will be released on the CDFI Fund’s website in the coming days. The CDFI Fund anticipates opening the FY 2017 round of the programs in early 2017. </p><p> <b>2016 CDFI Program and NACA Program Award Resources </b></p><ul><li><p>CDFI Program Award List: <a href="/Documents/FY%202016%20CDFI%20Program%20Award%20List.pdf" target="_blank">View the full group of awardees</a></p></li></ul><ul><li><p>NACA Program Award List: <a href="/Documents/FY%202016%20NACA%20Program%20Award%20List.pdf" target="_blank">View the full group of awardees</a> </p></li><li><p>CDFI Program and NACA Program Application Evaluation Process: <a href="/Documents/FY2016%20CDFI%20and%20NACA%20Application%20Evaluation%20Process%20Document.pdf" target="_blank">Learn how the awards were determined</a>. </p></li></ul><p> <b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2.2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the <a href="/Documents/CDFI_Brochure%20Updated%20Jan2016.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  </p>2016-09-27T04:00:00ZPress Releases231
CDFI Fund Announces Winners of the 2016 CDFI Prize Competitionhttps://www.cdfifund.gov/Lists/CDFI News/AllItems.aspxhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=230CDFI Fund Announces Winners of the 2016 CDFI Prize Competition<p>Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is pleased to announce the winners of its <a href="/news-events/news/Pages/news-detail.aspx?NewsID=218&Category=Updates"> 2016 CDFI Prize Competition</a>. Eight organizations will receive an aggregate total of $1 million to reward innovative ideas and approaches to increasing CDFI investment and access to capital in underserved rural areas, particularly those characterized by persistent poverty. </p><p>“The CDFI Fund is excited to showcase and support Prize winners that are working across the breadth of underserved rural communities to develop breakthrough solutions to attracting capital investment and enhancing credit access,” said CDFI Fund Director Annie Donovan. “These are areas in deep need of innovations that combat persistent poverty, and we laud the entrepreneurial efforts of this year’s Prize Competition applicants.”</p><p>Winners of the 2016 CDFI Fund Prize Competition were selected based on their submission of innovative proposals that: (1) identify and promote new ideas and practices for implementation by CDFIs that serve rural areas, and/or (2) create value during and after the competition by encouraging CDFIs serving rural areas to develop new skills or practices that may have beneficial effects on the communities they serve. </p><p>From the 60 applications submitted for consideration, four winners were selected and an additional four applications were provided with honorable mentions. Winners and honorable mentions were selected from among the top applications by a panel of judges with a diverse array of experience in serving the capital and credit needs of rural communities. 2016 CDFI Prize Competition awardees include: </p><p> <b>Winners</b></p><ul><li><p> <b>1st Place:</b> Virginia Community Capital—$300,000</p></li><li><p> <b>1st Place:</b> National Federation of Community Development Credit Unions—$300,000</p></li><li><p> <b>2nd Place:</b> First Nations Oweesta—$200,000</p></li><li><p> <b>3rd Place:</b> Community Ventures—$100,000</p></li></ul><p> <b>Honorable Mentions</b></p><ul><li><p>Appalachian Community Federal Credit Union—$25,000</p></li><li><p>Community Development Corporation of Brownsville—$25,000</p></li><li><p>Craft3—$25,000</p></li><li><p>Hope Credit Union—$25,000</p></li></ul><p>View more details on the 2016 CDFI Prize Competition winners below. </p> <br> <h3>2016 CDFI Fund Prize Competition Awardee Summaries</h3> <br> <p> <b>1st Place Winner: Virginia Community Capital—$300,000</b> To address a lack of banking or financial knowledge and expertise among foundations that are interested in impact investing, VCC has created a social enterprise called Direct Investing for Good, a service providing fund aggregation, underwriting, investment servicing, and monitoring/tracking services to foundations so they can invest directly in CDFIs or co-invest with local CDFIs in community development projects. VCC intends to pilot the proposal to serve nine foundations that are members of the Appalachian Funders Network (AFN) and eventually scale the program to include all 80 members of the AFN to increase access to new capital for CDFIs and rural communities throughout Appalachia. </p><p> <b>1st Place Winner: National Federation of Community Development Credit Unions (Federation)—$300,000</b></p><p>To enable CDFI credit unions to extend their reach and provide access to secure, affordable financial services and products in underserved rural communities, the Federation is building CU Impact—“the first and only core system created specifically for CDFIs.” CU Impact will enable CDFI credit unions to interact with customers through smart phones as well as share standardized products and services designed for low-income communities with other credit unions enrolled in the system. The initiative will be piloted with Red River Mill Federal Credit Union and Shreveport Federal Credit Union, two CDFIs serving persistent poverty counties in Louisiana and Mississippi, and the Federation anticipates expanding to 30 CDFI credit unions within five years.</p><p> <b>2nd Place Winner: First Nations Oweesta—$200,000</b></p><p>To address the lack of experience and staff resources among many Native CDFIs to collect and analyze data, First Nations Oweesta has begun developing Opportunities Through Impact System (OTIS), an impact tracking platform designed specifically for Native CDFIs. The goal of the OTIS platform is to provide the technological resources—combined with the technical assistance of First Nations Oweesta—to help Native CDFIs demonstrate their impact in their communities. The initiative will be piloted with five Native CDFIs serving American Indian, Alaska Native, and Native Hawaiian communities.</p><p> <b>3rd Place Winner: Community Ventures—$100,000</b></p><p>Community Ventures proposes to create a “Build Appalachia” community facilities loan fund, an innovative new capitalization approach to attack the loss of coal-related jobs in Central Appalachia. The loan fund will target academic programs designed to prepare Appalachian residents who have lost jobs in the coal industry for new careers in high-paying, economically stable sectors, especially the healthcare sector. Much of the Central Appalachian region is medically underserved, and there is a strong demand for qualified professionals. The loan fund will also address a lack of lending capital in the region for non-business essential community facilities.</p><p> <b>Honorable Mention: Appalachian Community Federal Credit Union (ACFCU)—$25,000</b></p><p>Through new technology and innovative products and services, ACFCU is protecting underserved communities in eastern Kentucky from predatory lenders while providing access to banking services to remote customers. To reach those customers who lack proximity to a credit union branch, ACFCU will be installing three Virtual Teller Machines (VTMs) – ATM-like machines with a video screen and microphone that allow the customer to video chat with a credit union employee – in strategic locations in rural eastern Kentucky. In addition, the credit union has developed “myMoneyTrackSolutions,” a “stair step” series of services and products that can build credit, consolidate debt, and provide affordable alternatives to predatory loan products. </p><p> <b>Honorable Mention: Community Development Corporation of Brownsville (CDCB)—$25,000</b></p><p>Working with the CDFI Rio Grande Valley Multibank, CDCB has created a loan program to address the lack of access to both safe and affordable housing and financing in rural and colonia areas of South Texas. The loan program provides a phased financing and construction solution that meets the immediate housing needs of residents and can ‘grow’ or expand as the family’s financial situation improves and/or as their housing size needs increase.</p><p> <b>Honorable Mention: Craft3—$25,000</b></p><p>With widespread need to finance the replacement of failing septic systems in rural areas in Washington State, Craft3 is maximizing the reach of their Clean Water Loan product, previously implemented on the county level, through a new regional strategy. By standardizing their loan program and offering it at a regional level, they are able to enable scale, streamline county-level reporting, and create a single-administering entity. The regional approach also allows on-site sewage systems professionals who work in multiple counties to discuss the same financing option with potential borrowers regardless of physical location.</p><p> <b>Honorable Mention: Hope Credit Union—$25,000</b></p><p>To address the lack of access to capital in rural areas, Hope Credit Union has developed a strategy of taking over donated bank branches in persistent poverty counties and offering products and services appropriate to the community. HOPE’s strategy combines the donated physical infrastructure with its own robust products and services, user friendly mobile technology, and a clear commitment to community development to attract previously unbanked and underbanked rural residents into the financial mainstream.</p><p> <i>About the CDFI Fund</i></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the<a href="/Documents/CDFI_Brochure.pdf"> Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.  </p>2016-09-23T04:00:00ZPress Releases230

 Upcoming Events

 

 

CDFI Certification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=39CDFI Certification Conference Call2016-10-20T19:00:00Z2016-10-20T20:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D181700355905A9067BF24DA9A2A59A2925ED6639
CDFI Certitification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=40CDFI Certitification Conference Call2016-11-17T20:00:00Z2016-11-17T21:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D181700355905A9067BF24DA9A2A59A2925ED6640
CDFI Certification Conference Callhttps://www.cdfifund.gov/Lists/CDFI Events/DispForm.aspx?ID=41CDFI Certification Conference Call2016-12-15T20:00:00Z2016-12-15T21:00:00ZConference Call0x01020041E1D5678A3CED4385147CFE255D181700355905A9067BF24DA9A2A59A2925ED6641

 

 

Framework for the Futurehttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=11Framework for the FutureGuiding Principles and Strategic Plan<img alt="" src="/SiteCollectionImages/pic-highlight1.jpg" style="BORDER:0px solid;" />/Pages/next-five-years.aspx

 

 

Request a Speakerhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=5Request a SpeakerSchedule a Speaker for your next event<img alt="" src="/Style%20Library/cdfi/pic-highlight1.jpg?s=F3BB8F79FA7B0B4E2E89F19CE8111068BA762963" style="BORDER:0px solid;" />/Pages/speaker-request.aspx

CDFI Fund Tools & Resources

Access Tools and Resources

Access the CDFI Fund's database systems below. Use the Awards Database search to find CDFI Fund awardees by state for all of the CDFI Fund's programs. AMIS is the CDFI Fund's new Awards Management Information System, which will replace myCDFIFund.

 

 

Community Investment Impact Systemhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=1Community Investment Impact Systemicon-checkmarkHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E21/Pages/ciis.aspx
CIMS Mapping Toolhttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=2CIMS Mapping Toolicon-mapHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E22/Pages/mapping-system.aspx
AMIShttps://www.cdfifund.gov/Lists/CDFI Tools Resources/DispForm.aspx?ID=3AMISicon-communityHome;#0x0100178F0095A2AE7A4FBED67E33256F670E0400E5EE0B704BCEE64CA003554D82DE23E23http://amis.cdfifund.gov

Awards Database

Find CDFIs in your community