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CDFI initiative enlists federation
WASHINGTON (10/11/10)--The National Federation of Community Development Credit Unions is among those selected to aid the Community Development Financial Institutions (CDFI) Fund as it works to “expand technical assistance and training opportunities for CDFIs nationwide,” the CDFI Fund announced on Friday. The CDFI Fund’s capacity-building initiative aims to “provide specialized training and technical assistance designed to significantly increase the ability of CDFIs to deliver financial products and services to underserved communities.” The training will cover “affordable housing and business lending, portfolio management, risk assessment, foreclosure prevention, training in CDFI business processes, and assistance with liquidity and capitalization challenges,” according to the CDFI Fund. Federation President/CEO Cliff Rosenthal in a release said his group was “pleased to be selected” for participation in the CDFI Fund’s capacity-building initiative. NeighborWorks America, Deloitte, The Opportunity Finance Network and Reznick Group P.C. will also aid the CDFI Fund. In a Friday release, CDFI Fund Director Donna Gambrell said that her group will work with the providers “to offer high quality training resources, on-site technical assistance and individualized capacity-building assistance to help CDFIs extend and expand their coverage.” The CDFI Fund last week announced the beginning of the 2011 round of funding, through which $135 million will be made available to eligible credit unions. Applications for the CDFI funds must be received by Nov. 19. (See related story: CDFI to provide up to $135 mil in 2011 round, Oct. 6) For the full CDFI Fund release, use the resource link.
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