We are pleased to report that the budget agreement for Fiscal Year 2026 allocates $324 million for the CDFI Fund. This figure holds steady with the FY25 enacted level and stands significantly above both the House-proposed mark ($247.5 million) and the Administration’s budget request ($133 million). Out of the $324 million, $188 million were allocated to the CDFI Financial Assistance, Technical Assistance (CDFI FA/TA) Grant Program, and $9 million for the Small Dollar Loan Fund Program (SDLP). We understand the round will open in the next few months as FY2025 awards* are yet to be announced.

This stability reflects strong bipartisan support for the community development financial institutions ecosystem.

Critical Deadlines: Recertification & Grant Reporting

  1. Annual Certification Report (ACR)

CDFIs must complete the Annual Certification Report (ACR) to maintain their certified status this year. Please note the following:

  1. Grant Annual Reports (Due 03/31)

If you hold an active grant—including Financial Assistance, Technical Assistance, Small Dollar Loan, or Equitable Recovery Program awards—your annual reports are due by March 31st. This includes both the “Uses of Funds” and “Performance Progress” reports.

FY2025 Application Updates: Aligning with New Priorities

The CDFI Fund is currently accepting modifications for Financial Assistance (FA) applications that advanced to Phase 4. These adjustments are intended to align applications with the current Administration’s priorities.

Key Change: The Notice of Funds Availability (NOFA) has been amended. Specifically, the definition of “Eligible Markets” has been updated to exclude race as a specific factor.

If your credit union submitted a Financial Assistance application in 2025 and moved to Phase 4, you should have received an email regarding these changes. However, if you received a communication last September regarding your Phase 4 status but did not receive an email about the recent amendment, you should contact the CDFI Fund directly to request that your application be reopened for revision if you would like to incorporate any changes. Otherwise, no action is needed.

FY2025 awards*: To date, only a handful of organizations have received official notifications for FY25 awards. These early awards utilized leftover funds from FY2024. The full announcement for the remaining FY25 grantees is expected shortly.

How Luminate Can Help

We understand that these overlapping deadlines and regulatory shifts can be complex. Luminate has partnered with expert consultants who can help you navigate the certification process, grant reporting requirements, and application amendments.

If you need support with CDFI reports, certification, or grant applications, please do not hesitate to reach out to innovations@luminate.coop.

Contact us today to ensure your organization remains compliant and competitive.

This newsletter is for informational purposes only. Please verify all deadlines and requirements directly with the CDFI Fund.