What's a CDFI?
Community Development Financial Institutions (CDFIs) are certified by the US Department of the Treasury as serving low-income communities and operating with a goal of expanding economic opportunity by providing access to financial products and services for local residents and businesses.
CDFIs work to improve their communities by providing access to basic financial services, affordable credit and investment capital. The CDFI designation opens the door for funding opportunities that make it possible to better serve those in your communities that need it most, and for financial institutions to excel, both operationally and financially.
Why Certification Matters
What Certification Can Help Unlock
Certification can help eligible credit unions pursue:
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Federal funding opportunities
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Greater lending capacity
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Stronger positioning with public, private, philanthropic, and community partners
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More disciplined impact measurement
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Greater community credibility
What the Data Shows
CDFI credit unions are not choosing between mission and performance. A 2025 Filene Research Institute study conducted in partnership with CU Strategic Planning found:
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Member growth rates for CDFI credit unions were nearly double those of non-certified peers
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Asset growth: 7.03% (CDFIs) vs. 4.94% (non-CDFIs)
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No statistically significant increase in delinquencies or charge-offs
Could Your Credit Union Be a Fit?
Determining eligibility requires more than a checklist, but you may be ready to explore certification if you are:
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Serving low-income, underserved, or economically distressed communities
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Making loans that expand access to affordable credit
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Offering financial education, counseling, or other member support tied to lending
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Building partnerships with local organizations
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Seeking new resources to grow community development lending
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Looking for a more formal way to document and communicate your impact
CDFI Grants in Action
Here's what credit unions have built with their Financial Assistance and Technical Assistance awards:
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Credit-builder and small-dollar loans
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Affordable housing / first-time homebuyer programs
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Payday loan alternatives
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Disaster recovery lending
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Small business / micro-enterprise loans
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Financial counseling and coaching
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Staff hiring and training
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Technology upgrades and new branches
There's Help to Get Started
CDFI Fund Technical Assistance awards are available for institutions that are working to become CDFIs, and can provide up to $150,000 to build the internal capacity needed to pursue certification, strengthen community development strategy, and prepare for future funding opportunities.
Explore Your CDFI Certification Path
If your credit union is already doing the work, certification may be the path to bringing in more resources to keep going. If you're not there yet but want to be, we can help you get there.
Tell us a little about your credit union, and we'll be in touch to discuss if CDFI certification may be a practical next step.
Learn More
September, 2025
Amplifying Your Credit Union’s Mission:
Financial and Community Impacts of Being a CDFI
There are nearly 500 CDFI-certified credit unions nationwide, all dedicated to strengthening their communities and expanding financial inclusion. This brief takes a closer look at both the opportunities and challenges of CDFI certification and what it means for credit unions, their members, and the communities they serve.
December, 2025
Introduction to CDFIs: Why Credit Unions Are (and Always Have Been) Community Development Financial Institutions
Credit unions have always been engines of community development, long before the CDFI Fund existed. This webinar explores that, along with how CDFI certification works and what the process looks like, the benefits of designation, and how CDFI status can support long-term growth and member service.
August, 2025
Grow your LID/MDI Credit Union Into a CDFI
Learn how (and why) to secure a FY 2026 Technical Assistance Grant and become CDFI certified. We cover the requirements and process for becoming a CDFI; what counts toward your Target Market and why it matters; and how Technical Assistance Grants help your bottom line.