On September 16, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 191 organizations $24.1 million in Technical Assistance (TA) awards for the fiscal year (FY) 2021 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). TA awards help CDFIs build their capacity to provide services to low-income and underserved people and communities across America.
OFN congratulates all the recipients, especially the following OFN members:
- Carolina Community Impact, Inc
- Champions Funding
- Chi Ishobak
- Civic Community Partners
- Community Business Partnership
- Community Investment Fund of Indiana
- ICA Fund
- Inclusive Action for the City
- Israel Methcomm FCU
- Habitat for Humanity NYC Fund
- Invest PGH
- Women’s Opportunities Resource Center
- Nimiipuu Community Development Fund
The CDFI Fund has indicated that the FY 2021 CDFI Program Financial Assistance (FA) awards will be announced later this year.
Both these TA awards and the upcoming FA awards come from the $270 million the CDFI Fund received for FY 2021. This funding is in addition to the record breaking $1.25 billion in Rapid Response Program grants the CDFI Fund awarded in June. With the end of the fiscal year approaching on September 30 and the FY 2022 appropriations process still ongoing, lawmakers will need to pass a continuing resolution in the next several weeks to avoid a government shutdown.
OFN continues to advocate for at least $1 billion in appropriations for the CDFI Fund in the final FY 2022 funding bill.