WASHINGTON—The Community Development Financial Institution (CDFI) Fund is once again being told by NAFCU the trade association has concerns over its Fund Certification Application and Certification process.
In a letter to the CDFI Fund, NAFCU Senior Regulatory Affairs Counsel Aminah Moore raised several concerns the association has, including that the primary mission section of the proposed application eliminates the use of the NCUA’s Low Income Designation as an automatic qualifier for membership.
NAFCU shared its comments on the proposed changes ahead of the Community Development Advisory Board meeting Feb. 28.
As CUToday.info previously reported, the CDFI Fund announced last month that it was postponing the launch of the new CDFI Certification Application and plans to revise the version released for public comment in November.
Information on how to access the Feb. 28 meeting can be found here.
CU-Backed Candidate Wins
Separately, in a Virginia special election, State Sen. Jennifer McClellan has been elected to Congress to fill the seat left open by the passing of Rep. Donald McEachin. McClellan—the first Black woman elected to represent Virginia in Congress—had the support of the Credit Union Legislative Action Council and the Virginia Credit Union League.
“We congratulate Rep.-elect McClellan on her election to the 118th Congress and look forward to working with her in Washington, D.C., on ways credit unions can continue to promote financial well-being and advance the communities they serve,” said Trey Hawkins, CUNA deputy chief advocacy officer for political action.
McClellan met with CUNA, the Virginia Credit Union League and eight Virginia credit unions earlier this month.
“Virginia’s credit unions congratulate Sen. McClellan,” said Virginia CU League President/CEO Carrie Hunt, “and we look forward to working with her in her new role as a member of Congress. We remain actively engaged with each member of our Congressional delegation on a host of federal issues that directly affect us and our members, including data privacy and security measures, interchange and overdraft services.”
McClellan is a longtime credit union member who said she received her first auto loan from her credit union, CUNA said.
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