On Tuesday, FUND Consulting had the opportunity to participate in an invite-only webinar session for CDFI banks hosted by the Community Development Bankers Association (CDBA) and the CDFI Fund. A strategic partner of FUND Consulting for many years, the CDBA is the national trade association for the community development banking sector and the voice of community development banks and thrifts that are certified as CDFIs.
During the webinar, CDFI program staff provided an analysis of CDFI bank applications in recent years, including historical data on the number of bank applications and success rates, as well as a discussion of the application review process and application sections that have typically been challenging for banks. The CDFI Fund also provided a number of strategies for strengthening bank FA applications as well as overall opportunities for providing greater to support to CDFI banks.
The webinar was the result of the continued effort of the CDBA to help better understand the barriers facing CDFI banks in the FA program. The session provided participant banks with an important opportunity to dialogue with the CDFI Fund about the FA program as well as strategies for developing strong application in the upcoming FY2013 funding round. While banks have historically comprised a smaller percentage of the number of overall number certified CDFIs and FA program awardees, their ranks have continued to grow and in recent years. We were encouraged by the webinar and the CDFI Fund’s desire to reach out to CDFI banks and better understand their needs as a growing and integral part of the CDFI Fund’s mission to expand access to credit, capital, and financial services in more underserved communities across the country.
Are you a CDFI bank? What can the CDFI Fund do to help your organization achieve its mission and goals as a certified CDFI?