The changing face of CDFIs
The nationwide Federation of Community Development Credit Unions, several of whose users have actually effectively sent applications for funds through the investment, noted that since 2013, loan funds have obtained about $730 million and credit unions about $163 million. ThatвЂ™s because historically, loan funds have already been probably the most type that is predominant of, the Federation explained.
But that’s beginning to change. Throughout the last four years, managed depositories have become in figures and today represent very nearly 50% for the CDFI industry, the Federation stated.
Relating to data provided by the Federation, in December 2013, managed CDFIs were composed of 173 credit unions, 76 CDFI banks and thrifts and 50 depository companies that are holding. Continue Reading