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News Now

Washington
CDFI Fund Providing New Resources, Looking for New Hires
WASHINGTON (12/20/13)--Community development-focused credit unions will soon have a new resource when the U.S. Treasury's Community Development Financial Institutions Fund (CDFI Fund) provides a series of technical assistance webinars early next year.

The webinars, which will be provided as part of the fund's capacity building initiative's "Strengthening Small and Emerging CDFIs" series, will run from January until June.

Opportunity Finance Network will host the webinars, which the fund said will provide small and emerging CDFIs with best practices and tools to evaluate their business practices and pursue strategies to strengthen their organizations.

Scheduled webinars include:
  • The four stages of CDFI growth on Jan. 8 at 1 p.m. (ET);
  • Capitalization: raising debt and equity for CDFIs on Jan. 21 at 1 p.m. (ET); and
  • Leading organizational change on Feb. 5 at 1 p.m. (ET).
Other topics and times will be announced soon, and posted on the "Strengthening Small and Emerging CDFIs" webpage.

Advanced registration is required, and the webinars will be archived, the CDFI Fund said.

The CDFI Fund is also working on strengthening its own internal resources by hiring new reviewers and alternates to examine applications for the 2014 rounds of the CDFI Program and the Native American CDFI Assistance Program.

The CDFI Fund said candidates should have expertise in:
  • Community and economic development finance sectors such as affordable housing, small business, microfinance, and commercial real estate financing;
  • Financing of community-based organizations; and
  • Development service activities.
Applicants with previous experience will also be accepted.

The reviewers will work remotely and will evaluate applications early in the process.

The CDFI fund helps locally based financial institutions--including credit unions--offer small business, consumer and home loans in communities and populations that lack access to affordable credit. Credit unions that are certified to take part in the CDFI program may apply for as much as $2 million in funding to help maintain their credit union's presence in the community.
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