CDFI Fund to Stop Accepting Target Market Modification Requests and CDFI Certification Applications from October 1, 2022 to April 3, 2023
Starting on July 31, Inclusiv will conduct a pause on new eligibility analysis until April 3, 2023
The Community Development Financial Institution (CDFI) Fund has announced a six-month pause on the acceptance of Target Market Modifications and new CDFI Certification Applications in order to complete preparations needed to deploy the new CDFI Certification Application and reporting tool. The pause will begin on October 1, 2022 and resume until April 3, 2023.
Inclusiv will conduct a pause in Eligibility Analysis from July 31, 2022 through April 3, 2023 in anticipation of the new standards and the opening of the CDFI Fund 2023 CDFI Certification application. If you have currently received an Inclusiv Eligibility Analysis data template from us we will honor your submission of data for Eligibility Analysis through August 15, 2022.
Inclusiv is aware that a number of credit unions are waiting to hear from the CDFI Fund regarding Target Market Modification requests and CDFI certification applications that under review by the CDFI Fund’s Certification unit. We will continue our efforts to ensure there’s a resolution to those pending requests. If your credit union is in this situation and you haven’t alerted us, please contact Chriselle Martinez as soon a possible at cmartinez@inclusiv.org. Feel free to also reach out with any other questions.
In the interim, we encourage members that would like to become CDFI certified to anticipate the 2023 Technical Assistance grant. This grant application allows for a emerging (CDFI Certified within 3 years of funding) CDFIs to apply.