CDFI, LID, and MDI: What’s the Difference?

CDFI, LID, and MDI: What’s the Difference?

The credit union world is chock full of acronyms. CUSO Magazine’s Esteban Camargo looks at community development financial institutions (CDFIs), low-income credit unions (LICUs), and minority depository institutions (MDIs); what they mean and the benefits each provide.

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GAO Says CDFIs Need Help, NCUA Making $3.4 Million Available to Low-Income-Designated Credit Unions Through CDRLF Grants

GAO Says CDFIs Need Help, NCUA Making $3.4 Million Available to Low-Income-Designated Credit Unions Through CDRLF Grants

The Government Accountability Office recently published a study suggesting CDFIs and MDIs need more help acquiring and implementing technology to help low- and moderate-income communities; meanwhile the NCUA is opening its CDRLF grant program for 2024 to assist low-income-designated credit unions. CUSO Magazine’s Esteban Camargo reports.

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NCUA Awards $3.1 Million in 2023 CDRLF Round

NCUA Awards $3.1 Million in 2023 CDRLF Round

The NCUA announced Thursday that it has awarded $3.1 million in Community Development Revolving Loan Fund grants to 142 low-income credit unions and MDIs, reports David Baumann of CUCollaborate.

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Biden Proposes Increase in NCUA’s Community Development Revolving Loan Fund

Biden Proposes Increase in NCUA’s Community Development Revolving Loan Fund

David Baumann of the Washington CU Daily reports that President Biden’s FY22 Budget proposal includes an increase to the NCUA’s Community Development Revolving Loan Fund program by $500,000 as well as a 22.2% increase for the Community Development Financial Institutions program.

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