CDFI Fund issues $8.8M in technical assistance grants

The Treasury’s Community Development Financial Institutions (CDFI) Fund announced its first round of FY2025 awards this week with $8.8 million in technical assistance grants. According to the Treasury, these awards are paid for with FY2024 appropriated funds that were available through Sept. 30.  

America’s Credit Unions, the American Association of Credit Union Leagues, and all state leagues have called on the Treasury and Office of Management and Budget to disburse the nearly $290 million in CDFI Fund appropriations for FY2025.  

“Later this winter, the CDFI Fund anticipates awarding additional CDFI Program TA Awards and Financial Assistance Awards, subject to funding availability,” the CDFI Fund said in a statement.  

The Treasury also recently published updated conditions for CDFI Fund awards, removing climate financing and diversity, equity and inclusion (DEI) from the list of permissible activities. Credit unions that previously filed an application for an award containing either of those activities will be contacted by the CDFI Fund to update their application by Oct. 27 to attest that they are not using CDFI grant funds for these purposes.