Community Dividend

CDFI News

Published October 1, 2012  |  October 2012 issue

Minneapolis Fed launches CDFI Resources page
The Minneapolis Fed has launched a web page for individuals and organizations that want to connect with and learn more about community development financial institutions, or CDFIs. A CDFI is a specialized entity that provides loans, investments, training, or other services in underserved or economically distressed areas. The new web page, called CDFI Resources, features CDFI-related news, a timeline illustrating the history of the CDFI industry, information on the types of CDFIs and the services they provide, an archive of relevant articles and reports, links to CDFI support organizations and networks, and a “Find a CDFI” search function that enables users to locate CDFIs in their area. To explore the site, visit www.minneapolisfed.org/community_education/cdfi.

U.S. Treasury awards $187 million to CDFIs
In its largest-ever round of funding, the U.S. Department of the Treasury has awarded a total of nearly $187 million to 210 CDFIs headquartered in 41 states and the District of Columbia. The Treasury’s CDFI Fund, which certifies and provides support for CDFIs, allocated the record amount of awards through the 2012 round of its Financial Assistance, Technical Assistance, Healthy Food Financing, and Native American CDFI Assistance (NACA) programs.

Eleven of the NACA awards, ranging from $74,088 to $750,000 and totaling nearly $4.2 million, went to CDFIs headquartered in the Ninth Federal Reserve District that primarily serve Native American communities. A total of more than $12.6 million of the remaining awards, ranging from $62,850 to $1,453,806 (the maximum award amount), went to 14 other CDFIs headquartered in the Ninth District. For a list of awardees and award amounts, visit the News & Events section of the CDFI Fund's web site at www.cdfifund.gov.

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