CDFI Fund Offering $1.73 Billion in Grants to Help Communities Recovering from COVID Pandemic

Credit unions designated as Community Development Financial Institutions have until August 23, 2022 to apply for grants under the CDFI Fund’s Equitable Recovery Program.

The CDFI Fund is making $1.73 billion available to help eligible financial institutions expand lending, provide grants, and make investments in low-to-moderate-income communities, including minority communities, that need better access to financial services and were disproportionately affected by the COVID-19 pandemic. Award funds may be expended for two types of eligible activities: financial products and services and operational support.

The CDFI Fund website has a dedicated page with information on this program, including a link to the Notice of Funds Availability, eligibility criteria, and the application requirements, process, and timelines.

All applicants must have active accounts with the federal government’s System for Award Management, Grants.gov, and the CDFI Fund’s Awards Management Information System.

Please contact the CDFI Fund with questions about this program at erp@cdfi.treas.gov or 202-653-0421.