WASHINGTON–The Federal Reserve is seeking feedback as part of a national survey it is conducting of Community Development Financial Institutions (CDFIs) related to the effects of COVID-19 on their organizations, clients and communities, as well as the ways in which CDFIs have responded to the crisis.
The survey is open to all CDFIs. The survey may be distributed to multiple individuals within an organization, but only one response per organization is necessary, the Fed stated. To participate, access the survey here.
The deadline to complete the survey is 12 p.m. ET, Aug. 14.
According to the Fed, results of the COVID-19 CDFI Survey will provide valuable data to the Federal Reserve Board of Governors, Federal Reserve Bank, the Community Development Financial Institutions Fund (CDFI Fund), and other policymakers, researchers, and practitioners about the impact of the COVID-19 pandemic on CDFIs and serve as an important resource in ongoing policy discussions.
“Survey data will be used to inform research and future policymaking; provide important benchmark information on how CDFIs are faring in the COVID-19 crisis; and how CDFIs are serving low-income and minority populations,” the Fed said. “Responses will also be used to update a national CDFI directory for business, government, community leaders, investors, and policymakers.”
The Fed said the CDFI Survey is a collaborative effort of the Federal Reserve Board of Governor, Federal Reserve Banks, the CDFI Fund, Opportunity Finance Network, the CDFI Coalition, First Nations Oweesta Corporation, Inclusiv, NeighborWorks America, the New York State CDFI Coalition and the Asociación de Ejecutivos de Cooperativas de Ahorro y Crédito de Puerto Rico.