WASHINGTON–Twenty-five credit unions are among the 56 organizations that the CDFI Fund has selected for Technical Assistance (TA) awards as part of both the CDFI Program and NACA (Native American CDFI Assistance) programs.
According to the CDFI Fund, recipients will collectively receive nearly $8.8 million in TA awards under the fiscal year (FY) 2025 funding round.
These TA awards were made using funds appropriated by Congress in FY 2024 that were set to expire on Sept. 30, 2025, under the CDFI and NACA programs.
The 25 credit unions can be found here.
Later this winter, the CDFI Fund anticipates awarding additional CDFI Program TA awards and Financial Assistance Awards, subject to funding availability, according to the Treasury Department, which said the funds represent its support for institutions that drive growth in rural and other underserved markets.
What Treasury Secretary Says
As the CU Daily reports separately, and as CU Strategic Planning noted, regardless of a federal government shutdown, “…as has been asserted by Treasury Secretary Scott Bessent, the CDFI Fund and its programs are statutorily authorized and Congress appropriated FY25 funds for these programs, making them non-discretionary. In addition, the Fund’s amended notice for the FY 2025 Financial Assistance Program was issued in consultation with the OMB.”
‘No Word’
“While the shutdown may cause a postponement of the Oct. 27 deadline for application revisions based on that amended notice, there has been no word from the Fund about how this may affect the announcement of FY 2025 awards,” CU Strategic Planning added.
