TACOMA, Wash. –CU Strategic Planning, which is the number-one writer of $1 million CDFI Financial Assistance Awards, is congratulating the winners of $125,000 Technical Assistance Awards just announced by the CDFI Fund.
“The credit unions that received the Technical Assistance awards for capacity-building are on a path to even greater health and strength as Community Development Financial Institutions,” CU Strategic Planning Founder Jamie Strayer said. “Although CU Strategic Planning does not write these grants, we know how important the awards are to building capacity of small and emerging credit unions.”
The CDFI Fund provides Technical Assistants grants of up to $125,000 to build Certified, Certifiable, and Emerging CDFIs’ organizational capacity to serve eligible or their target markets and Financial Assistance awards of up to $1 million to Certified CDFIs to build their financial capacity to lend to eligible, target markets.
Building Capacity
Technical Assistance grants are offered to CDFIs and Certifiable CDFIs to build their organizational capacity, including compensation and fringe benefits services, professional service costs, travel costs, training and education costs, equipment, supplies and incorporation costs. Certified and Emerging CDFIs are eligible to apply for Technical Assistance awards, however, Emerging CDFIs must demonstrate that they have the ability to become a Certified CDFI within three years of receiving a Technical Assistance grant, CU Strategic Planning noted.
Financial Assistance funds are awarded for loan loss reserves, capital reserves, financial products, financial services and development services. Applicants may submit an application for either award under the CDFI Program, but not both, unless applying through the Native American Program.
The CDFI Fund will announce Financial Assistance pending awards in December 2019.