To promote economic revitalization and community development through technical assistance awards to build the capacity of community development financial institutions (CDFIS) and emerging CDFIS.

The Community Development Financial Institutions (CDFI) Fund, a component of the Department of the Treasury, awarded Downey Federal Credit Union a $150,000 Technical Assistance grant under the Community Development Financial Institutions Program (CFDA 21.020) effective September 30, 2025. This three-year award, with a completion date of December 31, 2028, provides funding to build organizational capacity within the credit union to better serve low-income populations and underserved communities lacking adequate access to affordable financial products and services. Eligible uses of the technical assistance funding include compensation for personal services and fringe benefits, professional service costs, travel, training and education, equipment, supplies, and incorporation costs.

The core objective of this award is to strengthen Downey Federal Credit Union's capabilities to serve eligible investment areas and targeted populations as defined in federal regulations. By investing in the institution's operational and organizational infrastructure through this technical assistance grant, the CDFI Fund aims to enable the credit union to expand its reach and effectiveness in promoting economic revitalization and community development across its service areas. No subrecipients are involved in this award.

Activities

Technical assistance must be used for the following eligible activities subject to the applicable provisions of the uniform requirements: compensation - personal services, compensation - fringe benefits, professional service costs, travel costs, training and education costs, equipment, supplies, and incorporation costs (sponsoring entities only). End goals: the goal of the technical assistance is to build certified and emerging cdfi's organizational capacity to serve eligible markets and/or their target markets, in order to serve low-income people, and communities across the nation that lack adequate access to affordable financial products and financial services. Beneficiaries: profit organization, private nonprofit institution/organization, other private institution/organization. Investment areas and targeted populations, as defined in 12 C.F.R. 1805. Subrecipients: there are no subrecipients for this program. Broadband: not applicable. Reason for modification: not applicable.