CDFI Coalition E-news: President FY 2010 Budget, Supplemental Funding Deadline, CDFI

[Community Development Banking List]

Original message from: info@cdfi.org

E-Newsletter
May 15, 2009



* In This Issue:

* President's FY 2010 Budget

* Supplemental Funding Round

* Executive Director Leaving CDFI Coalition

* CDFI Coalition Expands Board

* Federation Conference

* Microfinance California





President's FY 2010 Budget - $243.6 million for the CDFI Fund



President Obama released the fiscal year (FY) 2010 budget earlier this
month. The President's budget requests $243.6 million for the CDFI Fund -
over doubling the $107 million appropriated for FY 2009. The President's
budget includes:

- $113.6 million, for the CDFI Program to boost investments and other
financial services in underserved communities;

- $80 million for the Capital Magnet Fund, a newly authorized program to
increase capital investment for the development, preservation,
rehabilitation, or the purchase of affordable housing for low-, very low-,
and extremely low-income families;

- $22 million for the Bank Enterprise Award (BEA) program

- $10 million for the CDFI Fund's Native Initiatives, which assist Native
Communities to overcome certain barriers to financial services;

- A new research initiative to conduct strategic research that will analyze
the impact and outcomes of the CDFI Fund's programs, including the effect of
changing economic conditions; and

- Matching funds requirement for the CDFI program be waived and that the
3-year, $5 million award cap also be waived for the 2010 award round you can
view the
<http://www.cdfifund.gov/docs/2009/cd...0CDFI%20Fund%2
0Budget.pdf> budget in full here and read the CDFI Fund's press
<http://www.cdfifund.gov/news_events/...010-Budget-Req
uest.asp> release here.





Supplemental FY 2009 Funding Round Deadline - May 27th



The CDFI Fund supplemental FY 2009 funding rounds of its CDFI Program and
Native American CDFI Assistance (NACA) Program deadline is May 27. A total
of $63 million in FA awards will be made - $55 million under the FY 2009
supplemental funding round of the CDFI Program and $8 million under the FY
2009 supplemental funding Round of the NACA Program. The supplemental
funding rounds are made possible due to additional appropriations received
by the CDFI Fund through the American Recovery and Reinvestment Act of 2009
(the Recovery Act). For
<http://www.cdfifund.gov/news_events/...-CDFI-Suppleme
ntal-Round.asp> more information click here.





Fred Zeytoonjian leaving the CDFI Coalition



Fred Zeytoonjian, Executive Director of the CDFI Coalition for the past two
years, will be leaving the CDFI Coalition on May 15. Due to the national
financial crisis, tight budgets among Coalition members, and lack of grant
funding for our organization, the board of directors decided they could not
continue his employment. During Fred's tenure he expanded our grassroots
advocacy, increased membership revenue and made our CDFI Institute
profitable. The CDFI Coalition would like to thank Fred for his service and
leadership. Fred is currently pursuing new opportunities and can be reached
at 202-486-5516 or fzeytoonjian@gmail.com.





CDFI Coalition expands Membership



The CDFI Coalition Board recently voted to welcome 24 new members to the
Coalition. Each new CDFI Coalition member organization appoints a
representative to the Coalition's Board of Directors. Please join us in
welcoming the new members to the Coalition. We are grateful for their
service as they work with the CDFI Coalition to be the unified national
voice of community development financial institutions. To view the CDFI
Coalition's members click here <http://cdfi.org/index.php?page=aboutus-4> ,
to view the CDFI Coalition's Board
<http://cdfi.org/index.php?page=aboutus-3> of Directors click here.





Federation Conference: Serving the Underserved



The National Federation of Community Development Credit Unions (Federation)
will hold its 35th Annual Conference on Serving the Underserved on June
10-14, 2009. The program will feature presentations by top-level Federal
officials, innovative credit unions, researchers, and more. For more
information click <http://www.cdcu.coop/i4a/pages/index.cfm?pageid=1> here.





Microfinance California Conference



Microfinance, CA- the first state-wide conference highlighting microfinance
as a smart investment for California. Up to 2 Million entrepreneurs in
California can't access the small amounts of capital they need to get their
businesses off the ground. What are we doing to meet this demand? Join us
for the first state-wide conference on microfinance to:

Learn the nuts and bolts of domestic microfinance Visit Bay Area
microfinance borrowers through small group tours Understand the impact and
future of microfinance in California Contemplate your role in the field of
microfinance through small group dinners with practitioners, leaders, and
investors Thursday, May 28th, at The Frances C. Arrillaga Alumni Center at
Stanford University, Palo Alto, CA. Visit www.microfinancecalifornia.org to
learn more and register.







CDFI Coalition
3240 Wilson Boulevard, Suite 220
Arlington, VA 22201
703.294.6970 phone
703.294.6460 fax
<http://www.cdfi.org> www.cdfi.org





The CDFI Coalition is the unified national voice of community development
financial institutions. Our mission is to encourage fair access to financial
resources for America's underserved people and communities.



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