On Thursday, June 20 the CDFI Fund extended its deadline for re-certifying CDFIs. Depending on a credit union’s fiscal year-end, this extension adds from five to twelve months to the application deadline.
Even more significantly for many, this means that the recertification applications will be evaluated on 2024 loan data. With the original deadline, current CDFIs would have needed need to prove they met the new certification standards using loan data from 2023.
This extension is great news for CDFIs that had concerns that their 2023 numbers may not meet the new certification standards. Now there’s time to make adjustments to lending strategies if needed. So where do you start?
CU Strategic Planning will be holding a webinar on Wednesday, July 10 that will cover everything you need to know about the extension. We’ll address what this means for in-progress recertification applications, compliance reporting and grant applications. And we’ll be discussing strategies for meeting the new CDFI certification requirements now and going forward.
Join us on the 10th at 10:00 am PT/1:00 pm ET. If you can’t make the live webinar, register anyway and we’ll send you a copy of the recording.