On April 6, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $26 million in awards to 158 banks through the fiscal year (FY) 2021 round of the Bank Enterprise Award Program (BEA Program). In addition, the Fund published a list of certified CDFIs (credit unions and loan funds) that BEA awardees provided support to during the BEA assessment period.
Through the BEA program, the CDFI Fund provides funding awards to banks that increase investments in CDFIs or increase their own lending, investing, or service activities in distressed communities over a one-year assessment period.
Congratulations to all recipients of the FY 2021 CDFI Fund BEA program, including the following OFN members:
- City First Bank
- Southern Bancorp
- Virginia Community Capital Bank
OFN continues to advocate for robust funding for the CDFI Fund programs.
Visit OFN’s Policy Action Center to make your voice heard in supporting $1 billion in CDFI Fund appropriations!