Treasury publishes new conditions for CDFI Fund awards
Community Development Financial Institutions (CDFI) Fund awards now have new conditions and requirements that remove climate financing and diversity, equity and inclusion (DEI) from the list of permissible activities as well as update definitions in the Healthy Foods Financing Initiative. The Treasury published an official Notice of Funds Availability (NOFA) Thursday, attaching the changes.
Credit unions that previously filed an application for a CDFI Fund award with climate or DEI 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.
America’s Credit Unions, the American Association of Credit Union League, and all state leagues have called on Treasury and the Office of Management and Budget to ensure that CDFIs have all necessary guidance to avoid any delays to award announcements or reduction in award amounts, and also urged it to release the nearly $290 million in FY2025 CDFI Fund awards.
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