Sizing the CDFI Market: Understanding Industry Growth

In August 2023, the Federal Reserve Bank of New York published an important report, Sizing the CDFI Market: Understanding Industry Growth that documented the significant growth of the CDFI movement over the last five years and highlighted Inclusiv's work to support Puerto Rico's cooperativas in achieving CDFI certification:

A portion of the growth of CDFI credit unions is explained by a dramatic increase in the number of CDFI credit unions in Puerto Rico. Of the 239 new credit unions certified as CDFIs between 2019 and 2023, 88 are in Puerto Rico. The rapid growth could be attributed to the Puerto Rico CDFI Initiative, an outreach and capacity-building effort led by Inclusiv, the trade association for community development credit unions, along with support from other organizations.