1
Contents
CERTIFICATION APPLICATION OVERVIEW ..................................................................................................... 2
KEY DEFINITIONS ........................................................................................................................................... 3
ADDITIONAL AND ALTERNATIVE REQUIREMENTS AND PROVISIONS BY CDFI TYPE ..................................... 5
APPLICATION PROCESS ................................................................................................................................. 9
APPLICANT BASIC INFORMATION ............................................................................................................... 12
LEGAL ENTITY .............................................................................................................................................. 29
PRIMARY MISSION ...................................................................................................................................... 33
FINANCING ENTITY ...................................................................................................................................... 51
TARGET MARKET ......................................................................................................................................... 67
DEVELOPMENT SERVICES ............................................................................................................................ 79
ACCOUNTABILITY ........................................................................................................................................ 83
NON-GOVERNMENTAL ENTITY ................................................................................................................... 97
NATIVE CDFI DESIGNATION ...................................................................................................................... 100
2
CERTIFICATION APPLICATION OVERVIEW
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND (CDFI FUND) MISSION
The mission of the CDFI Fund is to expand economic opportunity for underserved people and
communities by supporting the growth and capacity of a national network of community development
lenders, investors and financial service providers.
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFICATION
“CDFI Certification” or “CDFI Certified” is defined as the official U.S. Department of the Treasury
designation issued by the CDFI Fund to entities that provide financing activities to underserved people
and communities. CDFI Certification does not constitute an opinion by the CDFI Fund as to the
effectiveness or financial viability of an entity.
In order to be certified as a CDFI, an entity must meet each of the following criteria
1
:
- Be a legal entity;
- Have a primary mission of promoting community development;
- Be a financing entity that predominantly engages in the provision of arm’s-length
2
, on-balance
sheet
3
Financial Products
4
and/or Financial Services and has done so for at least one full fiscal
year;
- Primarily serve one or more Target Markets with its arm’s-length, on-balance sheet Financial
Products and, if elected, Financial Services;
- Provide Development Services in conjunction with its arm’s-length, on-balance sheet Financial
Products;
- Maintain accountability to each component of its CDFI Certification Target Market; and
- Be a non-governmental
5
entity.
1
In some cases, the entity as well as its affiliates may be subject to some or all of the listed criteria.
2
Entities that are Controlled by a Certified CDFI and seek to participate in the CDFI Fund’s Bond Guarantee Program (BG
Program) can meet the Certification requirements using Financial Product activity that is not arm’s-length, as long as the
activity is by and between such entities and their Controlling CDFIs. Such activity must be pursuant to operating agreements
that include management and ownership provisions and are in a form and substance acceptable to the CDFI Fund (see 12 C.F.R.
1805.201(b)(2)(C)(iii)).
3
Unless otherwise noted, balance sheet also refers to statement of financial position or statement of financial condition, which
shows an organization’s assets, liabilities, and owner's equity (or stockholders' equity); based on entity type.
4
The CDFI Fund recognizes the following types of Financial Products – loans; Equity Investments; loan guarantees; debt with
equity features; the purchase of loans originated by Certified CDFIs; the purchase of certain loans from organizations that are
not certified as CDFIs; and any similar financing activity pre-approved by the CDFI Fund.
5
A CDFI that is operated or Controlled by a Tribal Government is eligible to apply for certification. Indian tribes are not agencies
or instrumentalities of the U.S. or any state.
3
KEY DEFINITIONS
All capitalized terms in this Application are defined herein, in 12 C.F.R. Part 1805, or 12 U.S.C. 4701 et
seq.
KEY DEFINITIONS FOR IDENTIFYING AFFILIATES/SUBSIDIARIES
Affiliate: a company or entity that Controls, is Controlled by, or operates under common Control with
another company.
Subsidiary: a company that is owned or Controlled directly, or indirectly, by another company.
Control, Controlled or Controlling:
(1) Ownership, control, or power to vote 25% or more of the outstanding shares of any class of
voting securities of any company, directly or indirectly or acting through one or more other
persons;
(2) Control in any manner over the election of a majority of the directors, trustees, general partners
or individuals exercising similar functions of any company; or
(3) Power to exercise, directly or indirectly, a controlling influence over the management, credit, or
investment decisions or policies of any company.
Spinoff: A newly created entity formed by one or more separate entities that has received the financing
assets and activities of the original entity(ies) for the purpose of continuing such financing activities and
becoming a Certified CDFI.
KEY DEFINITIONS OF REGULATED FINANCING ENTITIES
Depository Institution Holding Company (DIHC): a bank holding company or a savings and loan holding
company, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(1)).
Insured Depository Institution (IDI): any bank or thrift with deposits insured by the Federal Deposit
Insurance Corporation.
Insured Credit Union: any credit union with member accounts insured by the National Credit Union Share
Insurance Fund.
State-Insured Credit Unions: credit unions that are regulated by and/or have insurance for their member
accounts from a state agency or instrumentality.
State: refers to any of the 50 U.S. states, the District of Columbia or any territory of the United States,
Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and Northern Mariana Islands.
4
ELIGIBLE FINANCIAL PRODUCTS
The CDFI Fund recognizes the following types of Financial Products for CDFI Certification purposes:
- Loans;
- Equity Investments;
- Loan guarantees;
- Forgivable loans that require at least one payment within 12 months of the loan closing date;
- Purchase of loans originated by Certified CDFIs;
- Purchase of loans originated by entities that do not have the CDFI Certification, but were made to
members of the Applicant’s Target Market(s);
- Credit cards;
- Lines of credit; and
- Debt with equity features.
Unless otherwise indicated, to be recognized as a Financial Product the related transactions must be arm’s-
length and on-balance sheet. Financial Product transactions originated during the reporting fiscal year that
may have been sold or paid off by the last day of the reporting fiscal year should be included in the Financial
Product activity data, even though they no longer appear on-balance sheet.
Any similar financing activity not listed above must be approved separately by the CDFI Fund to be
recognized as a Financial Product. If the Applicant is uncertain the Financial Product it offers aligns with the
Financial Product type(s) listed above, the Applicant should obtain clarification. To obtain clarification, the
Applicant must submit a Service Request in AMIS in advance of an Application submission for the CDFI
Fund’s consideration.
ELIGIBLE FINANCIAL SERVICES
The CDFI Fund recognizes the following types of Financial Services for CDFI Certification purposes:
- Checking accounts;
- Savings and share accounts;
- Check cashing;
- Money orders;
- Certified checks;
- Automated teller machines;
- Money market accounts;
- Safe deposit box services; and
- Any similar services not listed above must be specially approved by the CDFI Fund to be recognized
as a Financial Service).
The CDFI Fund recognizes all of the above Financial Services for the purpose of the CDFI Certification
criterion, except the Target Market test. For the purposes of the Target Market criterion, only the direct
holding of depository accounts will be accepted as an eligible Financial Service. Depository accounts include:
savings/share accounts, checking accounts, certificates of deposit, and money market accounts.
5
OBTAINING PRE-APPPROVAL TO INCLUDE SIMILAR FINANCIAL PRODUCTS, SIMILAR FINANCIAL
SERVICES, NEW TARGETED POPULATIONS, OR DEVELOPMENT SERVICES
Applicants seeking approval to include Financial Products, Financial Services, new Targeted Populations,
or Development Services that are not currently recognized or previously approved by the CDFI Fund,
must submit a Service Request in AMIS for the CDFI Fund’s consideration in advance of an Application
submission. The request must include the name and description of the Financial Product, Financial
Service, Targeted Population, and/or Development Service being proposed. Applicants should provide a
narrative describing the significant unmet capital, financial services and/or development services needs
as rationale for the request. Any supporting evidence (e.g., study, survey) must have been conducted
within the past five years, from a third-party source, and pertain specifically to the proposed request.
ADDITIONAL AND ALTERNATIVE REQUIREMENTS AND PROVISIONS BY
CDFI TYPE
REQUIREMENTS FOR DEPOSITORY INSTITUTION HOLDING COMPANIES (DIHCs), AFFILIATES OF DIHCs,
AND SUBSIDIARIES OF INSURED DEPOSITORY INSTITUTIONS (IDIs)
If the entity seeking CDFI Certification is a Depository Institution Holding Company (DIHC), an Affiliate of
a DIHC, or a Subsidiary of an Insured Depository Institution (IDI), it must meet the CDFI Certification
requirements based on a review of its compliance with those requirements, as well as a collective
review of the following Affiliates:
- Any Affiliate that is a DIHC or an IDI that Controls the Applicant;
- If an Applicant is a DIHC, any Affiliate that the Applicant Controls that directly engages in the
provision of Financial Products and/or Financial Services; or
- Any Affiliate that is mutually Controlled with the Applicant by a DIHC or an IDI and that directly
engages in the provision of Financial Products and/or Financial Services.
DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs may obtain or maintain CDFI Certification only if:
- they individually meet each of the CDFI Certification requirements (DIHCs can meet the Target
Market requirements based on the activity of an Affiliate(s));
- all of their relevant Affiliates individually meet Primary Mission, Accountability, and
Development Services requirements; and
- they and their relevant Affiliate(s) meet the Target Market Test in the aggregate.
6
PRIMARY MISSION REQUIREMENTS FOR CERTIFICATION APPLICANTS WITH AFFILIATES
For DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs, including Subsidiaries of a Tribal
Government, the CDFI Certification Primary Mission requirements must be met by all relevant
Affiliates, as described in the “Requirements for DIHCs, Affiliates of DIHCs, and Subsidiaries of
IDIs” above, to the collective CDFI certification review.
For all other Applicants, the CDFI Certification Primary Mission requirements must be met by
any Affiliate of the Applicant that Controls the Applicant or that directly engages in the provision
of Financial Products and/or Financial Services.
For more information, see the Primary Mission section of the Application form and the guidance
materials.
ADDITIONAL PROVISIONS FOR MEETING THE CDFI CERTIFICATION REQUIREMENTS
The following policies detail how different types of entities can meet the CDFI Certification requirements
in a manner consistent with their structure:
ENTITIES CONTROLLED BY TRIBAL GOVERNMENTS – PRIMARY MISSION REQUIREMENTS
Entities Controlled by a Tribal Government are eligible to apply for CDFI Certification. Indian
tribes are not agencies or instrumentalities of the U.S. or any State. An entity’s affiliation with a
Tribal Government will not affect its ability to meet the non-governmental entity criteria.
The CDFI Certification Applicant and/or relevant Affiliates that are Controlled by a Tribal
Government will need to demonstrate that it meets the Primary Mission requirements; the
Tribal Government is not required to meet Primary Mission requirements.
DEPOSITORY INSTITUTION HOLDING COMPANIES (DIHCs), INSURED DEPOSITORY INSTITUTIONS (IDIs),
INSURED CREDIT UNIONS, AND STATE-INSURED CREDIT UNIONS – FINANCING ENTITY REQUIREMENTS
As regulated and insured financial institutions, DIHCs, IDIs, Insured Credit Unions, and State-
Insured Credit Unions automatically meet the CDFI Certification Financing Entity requirements,
provided they have been engaged in eligible financing for at least one full fiscal year prior to
submission of the Application.
DIHCs THAT DO NOT ENGAGE IN THEIR OWN FINANCIAL PRODUCT OR FINANCIAL SERVICES ACTIVITY –
TARGET MARKET REQUIREMENTS
A DIHC that does not directly provide Financial Products or Financial Services may meet the
Target Market requirements by relying on the collective activity of its Affiliates, if:
the DIHC’s legal entity documentation is dated at least 12 months prior to the
submission of the CDFI Certification Application; and
at least one Affiliate has been engaged in closing Financial Products transactions or
completing Financial Services activities for at least one full fiscal year prior to submission
of the Application.
7
ENTITIES APPLYING FOR CERTIFICATION SOLELY FOR PARTICIPTION AS ELIGIBLE CDFIS IN THE CDFI
BOND GUARANTEE (BG) PROGRAM – FINANCING ENTITY AND ARM’S-LENGTH TRANSACTION
REQUIREMENTS
Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI
Bond Guarantee Program (BG Program) that are unable to meet CDFI Certification Financing
Entity requirements based on their own status, will be considered Financing Entities if they are
Controlled by a Certified CDFI. Such entities may also need to meet additional parameters and
restrictions established via the applicable Notice of Guarantee Availability for the particular CDFI
Fund BG Program Application round (see 12 CFR 1805.201(b)(2)(C)(ii)).
Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI
BG Program must be Controlled by a Certified CDFI and meet CDFI Certification requirements
using on-balance sheet Financial Product activity and Development Services activity that is not
arm’s-length, provided that the activity is by and between such entities and their Controlling
Certified CDFIs. Such activity must be pursuant to operating agreements that include
management and ownership provisions, and that are in a form and substance acceptable to the
CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(iii)).
Entities certified under this provision are not eligible for CDFI Fund funding programs other than
the BG Program. If such an entity seeks access to other CDFI Fund programs, it must apply for
CDFI Certification using the regular Application process and demonstrate it meets all of the
regular requirements for CDFI Certification.
SPINOFF ENTITIES – PRIMARY MISSION, FINANCING ENTITY AND TARGET MARKET REQUIREMENTS
An entity spun off from one or more non-CDFI certified entities that offer arm’s-length, on-
balance sheet Financial Products is eligible to seek CDFI Certification, even if it has less than one
full fiscal year financing activity of its own. Such entities must be able to meet the requirements
of the CDFI Certification provision for Spinoff entities outlined in the Financing Entity and Target
Market sections.
In addition, if an Applicant seeks to use the CDFI Certification provision for Spinoff entities, it
must meet the Primary Mission timeframe requirement by demonstrating that either the
Applicant, or an entity from which the Applicant received Financial Products, had an appropriate
primary mission of community development in place throughout the six full months completed
immediately prior to submission of the CDFI Certification Application.
An entity spun off from a CDFI is not eligible for this provision.
For more detail on these policies, please see the instructions for each relevant CDFI Certification
criterion in the CDFI Certification Application form, and in the guidance materials.
8
OTHER CONDITIONS
ACCOUNTABILITY REQUIREMENTS – FINANCIAL INTEREST POLICY
Governing Board and Advisory Board members who are principals
6
or staff members of the Applicant
organization or its Subsidiaries, Affiliates, or whose family members are principals or staff members,
cannot be used to demonstrate Target Market Accountability.
TARGET MARKET - TRANSACTION LEVEL REPORT
All Applicants must complete and submit a Transaction Level Report (TLR) before beginning an
Application for CDFI Certification. The TLR is a data collection tool that provides a method to evaluate
the extent to which an entity serves distressed areas and underserved populations. Data provided
through the TLR will be used to determine the share of an entity’s Financial Products and/or Financial
Services that are deployed to the entity’s proposed Target Market(s). For additional information on the
TLR, review the related CDFI Transaction Level Report documents.
TRANSITION FROM GOVERNMENT CONTROL TO NON-GOVERNMENTAL ENTITY
If an Applicant was previously Controlled by a government or government-Controlled entity, it can
demonstrate that it is no longer controlled by a government entity if its governance, organizing
documents, and board’s activities demonstrate that it allows for an election or appointment of a non-
governmentally controlled board, and such board remains non-governmentally controlled for one year
from the date of the change. The date and authorizing signature of approval of the non-governmentally
controlled board must be clearly displayed in the organizing documents.
OBTAINING PRE-APPROVAL FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES, TARGET MARKETS AND
TARGET MARKET ASSESSMENT METHODS
The CDFI Certification Application identifies the list of Financial Products, Financial Services, Target
Market and Target Market assessment methodologies approved by the CDFI Fund. Approved Financial
Products, Financial Services, and Target Market assessment methodologies must be used exactly as
approved, unless and until modification of the method is authorized by the CDFI Fund.
If an Applicant seeks recognition of an additional Financial Product or Financial Service, or use of an
alternative or modified Target Market assessment method, it can submit a service request through AMIS
for the CDFI Fund’s consideration. If new Financial Products, Financial Services, or assessment
methodologies are approved, the CDFI Fund will update the list of pre-approved Financial Products,
Financial Services, or assessment methodologies as appropriate, so that they are made available to
other Applicants and Certified CDFIs as well.
6
The CDFI Fund defines Principal as an individual that retains ownership, Control or power to vote 25% or more of
the outstanding shares of voting securities of the Applicant.
9
APPLICATION PROCESS
1) Review the “Certification as a Community Development Financial Institution” and “Definitions”
sections of the CDFI Program Revised Interim Regulations, 12 CFR Part 1805, available on the
CDFI Fund’s public website—www.cdfifund.gov. Note, capitalized words or phrases throughout
the CDFI Certification Application are defined terms that can be found in the Interim Regulation
or the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4701
et seq.).
2) Review the Application and supplemental Application guidance documents provided on the CDFI
Fund’s CDFI Certification webpage.
3) Refer to guidance materials on how to access and use the CDFI Fund’s online portal, Awards
Management Information System (AMIS).
4) Create or access an existing account for the Applicant entity in AMIS using the guidance
materials located on the CDFI Fund’s webpage.
5) Review and update the Applicant’s Employer Identification Number (EIN) on the organization
detail page in AMIS, if needed. Note: Each CDFI Certification Applicant must have its own valid
EIN and be a legal entity at the time it submits the CDFI Certification Application. The EIN
documentation provided in the “Legal Entity” section must match the organization’s name and
EIN in AMIS.
6) Review and update the Applicant’s contact information on the “organization detail” page in
AMIS, if needed. At least one Authorized Representative must be identified in order to submit a
completed CDFI Certification Application. Anyone listed as a contact in the Applicant’s online
account can fill out the CDFI Certification Application. However, only a contact designated as an
Authorized Representative will be able to make submissions. Note: An Authorized
Representative must be a person who is authorized to act and legally bind on behalf of the
Applicant. Consultants cannot be identified as an Authorized Representative.
7) Email systems and firewalls should be set to accept messages generated by AMIS. Contact the
AMIS Help Desk via an AMIS Service Request for assistance, if needed.
8) Applicants must provide additional Basic Information and Legal Entity documentation for
relevant Affiliates in the Applicant’s account in AMIS and/or within the CDFI Certification
Application. Note: Legal documents not written in English must be translated.
9) Review and update information on Applicant’s relevant Affiliates in AMIS, as needed.
10) Applicant must determine if its Financial Products, Financial Services, Target Market and Target
Market assessment methods match the CDFI Fund’s pre-approved lists, or request their
approval from the CDFI Fund, prior to submitting the Application. If any Financial Product,
Financial Service, Target Market, or Target Market assessment methods are not used by the
Applicant as approved by the CDFI Fund, the Applicant is prohibited from presenting them in the
10
CDFI Certification Application. See “Obtaining Pre-Approval for Financial Products, Financial
Services, Target Markets, and Target Market Assessment Methods” p. 8.
11) Upload transactional data to the Transaction Level Report (TLR) collection tool that supports the
proposed Target Market and Accountability criteria using the eligible American Community
Survey (ACS) dataset approved by the CDFI Fund. Note: This step must be completed BEFORE
beginning the Application.
a. Manual TLR data entry – To manually enter transactions, select the “CDFI TLR” tab in
AMIS.
b. File upload of data – To upload a file of transaction records, select “TLR
Import/Export/Certify” tab in AMIS.
12) If required, create a Target Market map(s) using the guidance materials for the CDFI Fund’s
Community Impact Mapping System (CIMS). The Applicant will not be able to attach or submit a
map that has not been created in AMIS. If an AMIS-created map is not created, or the analysis
demonstrates that the geography is not eligible, the respective Target Market will not be
approved.
13) The following Application sections will require the Applicant to confirm and/or update
information in the Applicant’s “Organization Detail Page” in AMIS: Basic Information, Target
Market and Accountability.
14) Submit the CDFI Certification Application in AMIS. Upon submission of the CDFI Certification
Application, the Applicant’s contacts identified in AMIS will receive notification that the
Application has been received.
15) The Application cannot be reopened for modification by the Applicant after submission in AMIS.
16) If approved, a CDFI Certification Agreement for approved Applications and a Certified CDFI Logo
toolkit will be sent to the Applicant’s Authorized Representative via email. An Authorized
Representative must electronically review, sign and return the CDFI Certification Agreement
within ten (10) business days via AMIS. A copy of the executed Agreement will be available in
their AMIS account for future reference. Note: Upon Certification, certain organizational
information about the Applicant and its activities may be posted on the CDFI Fund’s public
website for the purpose of creating a public list and description of Certified CDFIs. A copy of the
CDFI Certification Agreement can be found on the CDFI Fund website.
17) If declined, a determination letter will be sent to the Applicant’s Authorized Representative via
email. Applicants that receive denials can request a debriefing through the submission of a
Service Request via AMIS. New CDFI Certification Applications can be submitted with or without
a debriefing.
18) Upon Certification, the CDFI shall comply with all record retention and access requirements set
forth in the Uniform Requirements at 2 C.F.R. 200.334-338. Public access to Recipient records
shall be maintained in accordance with the Uniform Requirements at 2 C.F.R. 200.337, including
access applicable under the Freedom of Information Act (5 U.S.C. § 552) (FOIA). The CDFI shall
maintain all CDFI Certification-related records for a minimum of ten years after submission of
11
the document(s) or record(s) to the CDFI Fund. The CDFI shall maintain documentation
supporting the data reported to the CDFI Fund.
19) Upon Certification, the CDFI will be required to meet annual reporting requirements through the
submission of an Annual Certification and Data Collection Report and Transaction Level Report,
no later than 180 days after its fiscal year end or as requested by the CDFI Fund.
In addition to the above, all Applicants should note the following:
Applications may be rejected if they contain inconsistencies in the Applicant’s name and in related or
required documents.
Applications that contain incomplete or inaccurate information may be declined for CDFI Certification
without a full review.
Upon designation as a Certified CDFI, entities must continue to meet all Certification requirements.
The CDFI Certification can be revoked if the entity fails to provide documentation demonstrating it
meets the Certification requirements.
In addition, upon Certification, certain organizational information about the Applicant and its
activities may be posted on the CDFI Fund’s public website for the purpose of creating a public list and
description of Certified CDFIs.
The CDFI Certification status cannot be transferred to another entity. Applicants that are acquired or
merge with another entity while the Certification Application review is in progress will not be
reviewed, regardless of whether the Applicant is the surviving entity; the merger or acquisition is
considered a material event. In such cases, the surviving entity must submit a new Certification
Application after the merger or acquisition is consummated.
Additional Questions and Resources
If you have questions regarding the CDFI Certification Application process, you may contact the CDFI
Fund Office of Certification Policy and Evaluation team by submitting a Service Request in AMIS.
Information regarding the CDFI Certification Application and the Application process can also be
obtained by visiting the CDFI Fund’s CDFI Certification webpage.
The following sections include specific guidance, questions, and data points for Applicants to complete the
CDFI Certification Application in AMIS. The Application contains conditional questions that will appear in
AMIS only for those Applicants to which the questions apply, based upon financial institution type and/or
responses to other questions. In this document, which is for illustrative purposes only, such questions are
generally identified and/or appear nested below the questions to which they apply.
12
APPLICANT BASIC INFORMATION
The Basic Information section of the CDFI Certification Application collects general information about
the CDFI Certification Applicant and its Affiliates that must be reviewed in connection with CDFI
Certification requirements. Certain information in this section will be auto-populated based on data
from the Applicant’s AMIS account.
To ensure accurate data is auto-populated into the Application’s Basic Information section, Applicant
and Affiliate AMIS accounts must be up to date.
To complete the Basic Information section, the Applicant should:
- Review auto-populated information in the Basic Information fields for accuracy. If information is
missing or inaccurate, submit all updates and make corrections in the Organization Detail Page
in AMIS. For assistance with technical issues, submit a Service Request in AMIS.
- Complete the unpopulated Basic Information fields.
- Attach copies of all required documentation in the Basic Information section of the Application.
The Applicant and/or Affiliate names listed in the Application and in AMIS should match those listed in
any uploaded documentation. The Application will be rejected if the names differ, unless sufficient
documentation or explanation can be provided.
Section
Question or purpose of data field
Response
BI1
Applicant - Entity Name
[Auto-populated from the
Applicant’s AMIS account.]
BI2
Applicant - Financial Institution Type
[Auto-populated from the
Applicant’s AMIS account.]
BI3
Applicant – Depository Institution Holding
Company
Select Yes or No.
BI4
Applicant – Minority Depository Institution as
designated by the FDIC or NCUA
Select Yes or No.
BI5
Applicant – Employer Identification Number
(EIN)
[Auto-populated from the
Applicant’s AMIS account.]
BI6
Applicant – Unique Entity Identifier
[Auto-populated from Applicant’s
AMIS account.]
BI7
Applicant – Date of
Incorporation/Organization/Establishment
[Auto-populated from the
Applicant’s AMIS account.]
BI8
Applicant – Fiscal Year End Month
[Auto-populated from the
Applicant’s AMIS account.]
BI9
Applicant – Fiscal Year End Day
[Auto-populated from the
Applicant’s AMIS account.]
BI10
Does the Applicant engage in its own arm’s-
length, on-balance sheet Financial Product or
Select Yes or No.
13
Section
Question or purpose of data field
Response
Financial Services activity and can it meet the
CDFI Certification requirements based on its
own Financial Product and/or Financial Services
activity?
BI10.1
If No, identify the CDFI Certification
provision(s) the Applicant seeks to
use that enables it to use the
Financial Product or Financial
Services activity of an Affiliate(s) or
to use on-balance sheet Financial
Product activity that is not arm’s-
length to meet the CDFI Certification
requirements.
Select one:
- Applicant is applying for
Certification solely to
participate in the BG
Program and is an Affiliate
of a Controlling Certified
CDFI.
- Applicant is a DIHC relying
on the activity of an
Affiliate(s) to meet the
CDFI Certification
requirements.
BI11
Have at least 12 full months passed since the
date the Applicant’s incorporation/organization/
establishment documentation was filed with or
approved by the appropriate authorizing
agency?
Yes or No.
BI11.1
If Yes, what is the earliest date that
the Applicant can demonstrate that
it closed an arm’s-length, on-balance
sheet Financial Product or
completed a Financial Services
transaction?
Enter date.
BI11.2
If No, identify the exception(s) to the
CDFI Certification requirement that
12 full months must have passed
since an entity began its financing
activity that the Applicant seeks to
use.
Select all that apply:
- Applicant is participating in
the BG Program and is an
Affiliate of a Controlling
Certified CDFI.
- Applicant seeks to use the
CDFI Certification provision
for Spinoff entities.
- Applicant is a DIHC relying
on the activity of an
Affiliate(s) to meet the CDFI
Certification requirements.
BI12
If the Applicant seeks to use a CDFI Certification
provision for entities seeking Certification solely
for participating in the CDFI Fund’s Bond
Guarantee Program (BG Program):
Identify a Certified CDFI that Controls the
Applicant.
Select the Certified CDFI Affiliate
from Picklist.
14
Section
Question or purpose of data field
Response
BI13
If the Applicant is a DIHC that does not engage
directly in the provision of Financial Products
and/or Financial Services:
Does the Applicant have at least one Affiliate(s)
that has engaged in the provision of arm’s-
length, on-balance sheet Financial Products or
Financial Services for at least one full fiscal year
prior to submission of the CDFI Certification
Application?
Yes or No.
BI14
Is the CDFI Certification Applicant an Affiliate of
a Depository Institution Holding Company
(DIHC)?
Yes or No.
BI15
Is the CDFI Certification Applicant a Subsidiary of
an Insured Depository Institution (IDI)?
Yes or No.
BI16
Does the Applicant issue stock?
Yes or No.
BI16.1
If Yes, attach stock certificate
summary report that indicates
voting securities held.
Attach document(s).
BI17
If the Applicant seeks to use the CDFI Certification provision for Spinoff entities:
BI17.1
Can the Applicant demonstrate that
at least one Financial Product it
currently offers was transferred to
the Applicant by at least one
Affiliate?
Yes or No.
If No, the Applicant is not eligible
to use the CDFI Certification
provision for Spinoff entities.
BI17.2
Can the Applicant demonstrate that
at least one of its currently-offered,
transferred Financial Products has
been offered by the Applicant
and/or an original entity from which
it received the Financial Product
activity for at least one full fiscal
year prior to submission of this
Application?
Yes or No.
If No, the Applicant is not eligible
to use the CDFI Certification
provision for Spinoff entities.
Subsequent to the receipt of any
transferred Financial Products, can
the Applicant demonstrate that it
has closed at least one such
Financial Product using its own
capital?
Yes or No.
If No, the Applicant is not eligible
to use the CDFI Certification
provision for Spinoff entities.
BI17.3
Can the Applicant demonstrate that
for either the Applicant or an
Affiliate from which it received
Financial Product activity, an
acceptable primary mission has
been in place for at least the
Yes or No.
If No, the Applicant is not eligible
for CDFI Certification.
15
Section
Question or purpose of data field
Response
immediate six months completed
prior to submission of the CDFI
Certification Application?
BI18
Does the Applicant have a parent/controlling
entity, or any Affiliates that engage in the
provision of Financial Products or Financial
Services?
Select Yes or No.
BI19
Applicant bylaws or similar documentation:
Attach a copy of the Applicant’s governing or
managing board-approved or owner-approved
bylaws, partnership agreement, or similar
documentation.
Attach documentation.
BI20
Applicant bylaws or similar documentation:
Indicate how governing or managing
board/owner-approval of the Applicant’s bylaws,
partnership agreement, or similar document and
the date of approval is evidenced in the attached
documentation.
Select all that apply:
- Documentation indicates
the date approved by the
governing or managing
board or the owner and is
signed by an officer(s) of
the governing/managing
board, owner, or
authorized representative.
- A statement attached to
the documentation
indicates the date
approved by the governing
or managing board or
owner and is signed by an
officer(s) of the
governing/managing
board, owner, or
authorized representative.
- Official
governing/managing board
meeting minutes signed by
an officer(s) of the
governing/managing board
show the date of the
governing/managing board
meeting at which the
documentation was
approved and clearly
indicate governing/
managing board approval
16
Section
Question or purpose of data field
Response
of the documentation at
that meeting.
- Other.
B120.1
If “Other,” explain.
Provide explanation.
BI21
If governing or managing board or owner-
approval and/or the date of approval of the
Applicant’s bylaws, partnership agreement, or
similar document is not evidenced within the
relevant document itself:
Attach additional documentation that evidences
approval.
Attach documentation.
BI22
Designate an Authorized Representative for the
CDFI Certification Application.
Select Authorized Representative.
BI23
Designate a Point of Contact for the CDFI
Certification Application.
Select Point of Contact.
BASIC INFORMATION – BOARD AND EXECUTIVE STAFF DEMOGRAPHIC INFORMATION
Provide the following information about the members of the Applicant’s Governing Board and Executive
Staff.
7
If a Governing Board or Executive Staff members race and ethnicity are not known, that individual
should be counted as “Non-Hispanic White/Non-Minority.”
Section
Question or purpose of data field
Response
BI-DI1
Indicate the total number of Governing Board
members.
Enter number.
BI-DI2
Indicate the total number of Governing Board
members who identify as a member of a
minority population.
Enter number.
BI-DI3
Percentage of Governing Board members who
identify as a member of a minority
8
population.
[Auto-calculated].
BI-DI3.1
Indicate the number of Governing
Board members who identify as
Black.
Enter number.
BI-DI3.2
Percentage of Governing Board
members who identify as Black.
[Auto-calculated].
7
Executive Staff means all directors and executive officers (e.g. President, Vice-President, Chief Financial Officer) of
a company vested with the powers to manage and supervise the day-to-day affairs of an organization.
8
As defined in section 523 of Division N of the Consolidated Appropriations Act, 2021, Public Law 116-260, the
term “minority” means “any Black American, Hispanic American, Asian American, Native American, Native Alaskan,
Native Hawaiian, or Pacific Islander.” For purposes of this Application, the CDFI Fund relies on definitions
established by the 1997 Office of Management and Budget (OMB) standards on race and ethnicity.
17
Section
Question or purpose of data field
Response
BI-DI3.3
Indicate the number of Governing
Board members who identify as
Asian.
Enter number.
BI-DI3.4
Percentage of Governing Board
members who identify as Asian.
[Auto-calculated].
BI-DI3.5
Indicate the number of Governing
Board members who identify as
Native American.
Enter number.
BI-DI3.6
Percentage of Governing Board
members who identify as Native
American.
[Auto-calculated].
BI-DI3.7
Indicate the number of Governing
Board members who identify as
Native Alaskan.
Enter number.
BI-DI3.8
Percentage of Governing Board
members who identify as Native
Alaskan.
[Auto-calculated].
BI-DI3.9
Indicate the number of Governing
Board members who identify as
Native Hawaiian.
Enter number.
BI-DI3.10
Percentage of Governing Board
members who identify as Native
Hawaiian.
[Auto-calculated].
BI-DI3.11
Indicate the number of Governing
Board members who identify as
Pacific Islander.
Enter number.
BI-DI3.12
Percentage of Governing Board
members who identify as Pacific
Islander.
[Auto-calculated].
BI-DI3.13
Indicate the number of Governing
Board members who identify as
Hispanic.
Enter number.
BI-DI3.14
Percentage of Governing Board
members who identify as Hispanic.
[Auto-calculated].
BI-DI3.15
Indicate the number of Governing
Board members who identify as
Non-Hispanic White/Non-Minority.
Enter number.
BI-DI3.16
Percentage of Governing Board
members who identify as Non-
Hispanic White/Non-Minority.
[Auto-calculated].
BI-DI4
Indicate the number of Governing Board
members who identify as female.
Enter number.
BI-DI5
Percentage of Governing Board members who
identify as female.
[Auto-calculated].
BI-DI6
Indicate the number of Governing Board
members who identify as male.
Enter number.
18
Section
Question or purpose of data field
Response
BI-DI7
Percentage of Governing Board members who
identify as male.
[Auto-calculated].
BI-DI8
Indicate the number of Governing Board
members who identify as non-binary.
Enter number.
BI-DI9
Percentage of Governing Board members who
identify as non-binary.
[Auto-calculated].
BI-DI10
Indicate the total number of Executive Staff.
Enter number.
BI-DI11
Indicate the total number of Executive Staff who
identify as a member of a minority population.
Enter number.
BI-DI12
Percentage of Executive Staff who identify as a
member of a minority population.
[Auto-calculated].
BI-DI2.1
Indicate the number of Executive
Staff who identify as Black.
Enter number.
BI-DI2.2
Percentage of Executive Staff who
identify as Black.
[Auto-calculated].
BI-DI2.3
Indicate the number of Executive
Staff who identify as Asian.
Enter number.
BI-DI2.4
Percentage of Executive Staff who
identify as Asian.
[Auto-calculated].
BI-DI2.5
Indicate the number of Executive
Staff who identify as Native
American.
Enter number.
BI-DI2.6
Percentage of Executive Staff who
identify as Native American.
[Auto-calculated].
BI-DI2.7
Indicate the number of Executive
Staff who identify as Native Alaskan.
Enter number.
BI-DI2.8
Percentage of Executive Staff who
identify as Native Alaskan.
[Auto-calculated].
BI-DI2.9
Indicate the number of Executive
Staff who identify as Native
Hawaiian.
Enter number.
BI-DI2.10
Percentage of Executive Staff who
identify as Native Hawaiian.
[Auto-calculated].
BI-DI2.11
Indicate the number of Executive
Staff who identify as Pacific Islander.
Enter number.
BI-DI2.12
Percentage of Executive Staff who
identify as Pacific Islander.
[Auto-calculated].
BI-DI2.13
Indicate the number of Executive
Staff who identify as Hispanic.
Enter number.
BI-DI2.14
Percentage of Executive Staff who
identify as Hispanic.
[Auto-calculated].
BI-DI2.15
Indicate the number of Executive
Staff who identify as Non-Hispanic
White/Non-Minority.
Enter number.
19
Section
Question or purpose of data field
Response
BI-DI2.16
Percentage of Executive Staff who
identify as Non-Hispanic White/Non-
Minority.
[Auto-calculated].
BI-DI13
Indicate the number of Executive Staff who
identify as female.
Enter number.
BI-DI14
Percentage of Executive Staff who identify as
female.
[Auto-calculated].
BI-DI15
Indicate the number of Executive Staff who
identify as male.
Enter number.
BI-DI16
Percentage of Executive Staff who identify as
male.
[Auto-calculated].
BI-DI17
Indicate the number of Executive Staff who
identify as non-binary.
Enter number.
BI-DI18
Percentage of Executive Staff who identify as
non-binary.
[Auto-calculated].
BI-DI19
Indicate the race/ethnicity of the Applicant’s
Chief Executive Officer/Executive Director.
Select all that apply:
- White
- Black
- Asian
- Native American
- Native Alaskan
- Native Hawaiian
- Pacific Islander
- Hispanic
BI-DI20
Indicate the gender of the Applicant’s Chief
Executive Officer/Executive Director.
Select one:
- Female
- Male
- Non-Binary
BASIC INFORMATION – AFFILIATES
CDFI Certification Applicants that have Affiliates relevant to the CDFI Certification review, as indicated
below, must identify those Affiliates and present information regarding them in the Affiliates section of
the Application, and elsewhere, as noted in the different section instructions.
In order for Affiliate information to auto-populate the CDFI Certification Application, where indicated, an
Affiliate record must be created on the Applicant’s AMIS Organization Profile page.
DIHCs or Affiliates of DIHCs
If the Applicant is a DIHC or an Affiliate of a DIHC, it must identify any Affiliate in its family of entities
that meets any of the following criteria:
- The Affiliate directly engages in Financial Product and/or Financial Services activity and the
Applicant is a DIHC that Controls the Affiliate;
20
- The Affiliate is a DIHC that Controls the Applicant; or
- The Affiliate directly engages in Financial Product and/or Financial Services activity and the
Affiliate and the Applicant are under the mutual Control of a DIHC.
Subsidiaries of IDIs
If the Applicant is the Subsidiary of an IDI, it must identify any Affiliate in its family of entities that meets
any of the following criteria:
- The Affiliate is an IDI that Controls the Applicant; or
- The Affiliate directly engages in Financial Product and/or Financial Services activity and the
Affiliate and the Applicant are under the mutual Control of an IDI.
Applicants that are not DIHCs, Affiliates of DIHCs, or Subsidiaries of IDIs
In addition to presenting Affiliates relevant to any alternative CDFI Certification provision, a CDFI
Certification Applicant that is not a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, must identify
any Affiliate in its family of entities that meets any of the following criteria for consideration in
connection with the Primary Mission requirements:
- The Affiliate Controls the Applicant, except if the Controlling entity is a Tribal Government;
- The Affiliate directly engages in Financial Product and/or Financial Services activity and the
Applicant and the Affiliate are under the mutual Control of another entity; or
- The Affiliate directly engages in Financial Product and/or Financial Services activity and the
Applicant Controls the Affiliate.
Applicants seeking Certification solely for participating in the CDFI Fund’s Bond Guarantee Program (BG
Program)
Applicants seeking to use the CDFI Certification provision for entities seeking Certification solely for
participating in the CDFI Fund’s BG Program must, in addition to presenting Affiliates relevant to other
CDFI Certification requirements, present information on their Controlling Certified CDFI(s).
Spinoff Entities
Applicants seeking to use the CDFI Certification provision for Spinoff entities, must identify and present
for review the original entity(ies) from which they received spun-off Financial Product or Financial
Services activity.
Section
Question or purpose of data field
Response
BI-A01
Affiliate – Entity Name
Identify Affiliate.
BI-A02
Affiliate – Employer Identification Number (EIN)
[Auto-populated from the
Applicant’s AMIS account.]
21
Section
Question or purpose of data field
Response
BI-A03
Affiliate – Unique Entity Identifier
[Auto-populated from the
Applicant’s AMIS account.]
BI-A04
Affiliate – Date of
Incorporation/Organization/Establishment
[Auto-populated from the
Applicant’s AMIS account.]
BI-A05
Is the Affiliate a Certified CDFI?
Yes or No.
If Yes:
BI-A05.1
Does the Applicant seek to use
the CDFI Certification provision
for BG Program participation,
solely to participate in the CDFI
Fund’s BG Program?
Yes or No.
BI-A05.2
Does the Affiliate Control the
Applicant?
Yes or No.
BI-A06
Is the Affiliate a Certified Community
Development Entity (CDE)?
Yes or No.
BI-A07
Is the Affiliate’s sole line of business the
administration of another federal financing
program(s)?
Yes or No.
If Yes:
BI-A07.1
Identify the other federal
financing program(s).
Enter name(s).
BI-A08
If the Applicant is a DIHC or an Affiliate of a
DIHC:
Identify the relationship between the Applicant
and the Affiliate.
Select one:
- The Affiliate is a DIHC
that Controls the
Applicant.
- The Affiliate directly
engages in Financial
Product and/or Financial
Services activity and it
and the Applicant are
under the mutual Control
of a DIHC.
- The Affiliate directly
engages in Financial
Product and/or Financial
Services activity and the
Applicant is a DIHC that
controls the Affiliate.
BI-A09
If the Applicant is a Subsidiary of an IDI:
Identify the relationship between the Applicant
and the Affiliate.
Select one:
- The Affiliate is an IDI that
Controls the Applicant.
- The Affiliate directly
engages in Financial
22
Section
Question or purpose of data field
Response
Product and/or Financial
Services activity and it
and the Applicant are
under the mutual Control
of an IDI.
BI-A10
If the Applicant is not a DIHC, an Affiliate of a
DIHC, or a Subsidiary of an IDI:
Identify the relationship between the Applicant
and the Affiliate.
Select one:
- The Affiliate Controls the
Applicant (do not include
Tribal Governments).
- The Affiliate is Controlled
by the Applicant and
directly engages in the
provision of Financial
Products and/or Financial
Services.
- The Affiliate and
Applicant are mutually
Controlled by another
entity and the Affiliate
directly engages in the
provision of Financial
Products and/or Financial
Services.
BI-A11
If the Applicant seeks to use the CDFI
Certification provision for Spinoffs in order to
meet the Financing Entity and Target Market
criteria:
Identify the relationship between the Applicant
and the original entity from which it received
Spinoff Financial Product activity.
Select one:
- The entity Controlled the
Applicant at the time it
transferred Financial
Product activity to the
Applicant.
- The entity was Controlled
by the Applicant at the
time it transferred
Financial Product activity
to the Applicant.
- The entity and Applicant
were mutually Controlled
by another entity at the
time it transferred
Financial Product activity
to the Applicant.
BI-A12
If the Applicant relies on the Affiliate to provide
Development Services and the Affiliate
Select one:
- The Affiliate currently
Controls the Applicant.
23
Section
Question or purpose of data field
Response
relationship was not identified in any of the
other Affiliate relationship data fields:
Identify the relationship between the Applicant
and the Affiliate.
- The Affiliate is currently
Controlled by the
Applicant.
- The Affiliate and
Applicant are currently
mutually Controlled by
another entity.
BI-A13
If the Applicant seeks to use the CDFI
Certification provision for BG Program
participation, solely to participate in the CDFI
Fund’s BG Program and such Affiliate is a
Certified CDFI that Controls the Applicant:
What is the earliest date that the Affiliate can
demonstrate that it closed an arm’s-length, on-
balance sheet Financial Product or completed a
Financial Services transaction?
Enter date.
BI-A14
If the Applicant is a DIHC that is relying on the
activity of its Affiliate(s) to meet the Target
Market requirements:
Is this Affiliate a depository institution that
currently provides Financial Services?
Yes or No.
BI-A15
If the Applicant seeks to use the CDFI
Certification provision for Spinoff entities and
the Applicant received spin-off Financial Product
activity from this entity:
Is the Applicant currently offering at least one
arm’s-length, on-balance sheet Financial Product
that was spun off t by the original entity?
Yes or No.
If No, the Applicant is not eligible
to use the special CDFI
Certification provision for Spinoff
entities.
If Yes:
BI-A15.1
Identify at least one Financial
Product that was spun off to the
Applicant by the original entity.
Enter name.
BI-A15.2
Provide the earliest date the
original entity can demonstrate it
closed a spin off Financial Product
currently offered by the
Applicant.
Enter date.
If the Applicant has multiple Affiliates that need to be reviewed in connection with one or more of
the CDFI Certification requirements, repeat the “Affiliate – Basic Information” data entry for each
applicable Affiliate.
24
APPLICANT – FINANCIAL PRODUCTS AND FINANCIAL SERVICES BASIC INFORMATION
To be eligible for CDFI Certification, an entity must provide at least one Financial Product or be eligible
to rely on the Financial Product activity of an Affiliate(s).
Financial Services can be used to meet the CDFI Certification requirements by depository institutions
(i.e., bank/thrifts, credit unions, or bank/thrift holding companies) only.
BASIC INFORMATION - FINANCIAL PRODUCT INFORMATION – APPLICANT
Section
Question or purpose of data field
Response
BI-FP01
Is the Applicant a DIHC that does not directly
offer any arm’s-length, on-balance sheet
Financial Products?
Yes or No.
BI-FP02
Is the Applicant a participant in the CDFI Fund’s
BG Program and seeks to use the CDFI
Certification provision for such entities that
allows on-balance sheet Financial Product
activity that is not arm’s-length to meet the
CDFI Certification requirements solely for the
purposes of participating in the BG Program?
Yes or No.
25
For each of the Applicant’s Financial Product purposes, complete “Basic Information – Financial Product Information – Table 1” with information
on all of the Applicant’s arms-length Financial Products.
(Simulated Table – Actual display may differ)
Basic Information Table 1: Financial Product Information
Financial Product
Purpose
Financial Product
Transaction Type
(Select all that apply)
Financial
Product Names
Enter Financing
Amount
Offered
(Minimum)
Enter Financing
Amount
Offered
(Maximum)
Enter
Minimum
Interest Rate
at Origination
Enter
Maximum
Interest Rate
at Origination
Enter
Weighted
Average
Interest Rate
Enter
Repayment
Period
(Minimum)
Enter
Repayment
Period
(Maximum)
- Home Purchase
- Home Improvement
- Real Estate–
Construction/
Permanent/
Acquisition w/o
Rehabilitation–
Commercial
- Real Estate–
Construction—
Housing-Multi
Family
- Real Estate—
Construction–
Housing–Single
Family
- Real Estate—
Rehabilitation–
Commercial
- Real Estate—
Rehabilitation—
Housing—Multi
Family
- Real Estate—
Rehabilitation—
Housing—Single
Family
- Consumer
- Non-Real Estate
Business
-Loans
-Lines of credit
-Credit Card
-Equity
Investments
-Debt with Equity
features
-Loan guarantees
-Loans purchased
from Certified
CDFIs
-Loans directed to
the Applicant’s
proposed Target
Market purchased
from entities
without CDFI
Certification
-Other similar
financing (pre-
approved by the
CDFI Fund)
26
Basic Information Table 1: Financial Product Information
- Non-Real Estate
Microenterprise
- Climate-Centered
Finance
- Other
27
BI-FP03
If “Other” was selected for Financial Product
Purpose describe the purpose.
Provide description.
BI-FP04
If “Other similar financing” was selected as a
Financial Product transaction type:
Has the “Other similar financing” been pre-
approved as an eligible new Financial Product
category by the CDFI Fund?
Yes or No.
If No, the Applicant cannot include
the financing as an eligible
Financial Product.
If Yes:
BI-FP04.1
Provide the name of the new
Financial Product category
exactly as it appears in the
approval letter from the CDFI
Fund.
Enter name.
BI-FP04.2
Attach approval letter
evidencing the CDFI Fund’s
approval of the “other similar
financing” product.
Attach documentation.
BI-FP05
Are the listed Financial Products offered
directly by the Applicant?
Yes or No.
If No, only a DIHC Applicant may
include the Financial Products as
eligible Financial Products.
BI-FP06
Are the listed Financial Products on-balance
sheet for the Applicant?
Yes or No.
If No, only a DIHC Applicant may
include the Financial Products as
eligible Financial Products.
BI-FP07
Are the listed Financial Product(s) offered by
the Applicant at arm’s-length?
Yes or No.
If No, the Applicant cannot include
the Financial Products as eligible
Financial Products.
BI-FP08
What is the earliest date that the Applicant can
demonstrate that it closed an arm’s-length, on-
balance sheet transaction with its Financial
Product?
Enter date.
BASIC INFORMATION – FINANCIAL SERVICES INFORMATION – APPLICANT
Section
Question or purpose of data field
Response
BI-FS01
Does the Applicant offer Financial Services?
Yes or No.
BI-FS02
If the Applicant is a DIHC, does it directly offer
any Financial Services?
Yes or No.
28
If the Applicant engages in the direct provision of Financial Services Complete “Basic Information –
Financial Services Information – Table 1” with information on all of the listed Financial Services offered
directly by the Applicant:
(Simulated Table – Actual display may differ)
Basic Information Table 2: Financial Services Information
Financial Services
Category (Select
all that apply)
Financial Services Names
-Savings and
Share Accounts
-Checking
Accounts
-Certificates of
Deposit
-Money Market
Accounts
-Check Cashing
BI-FS03
Are the selected Financial Service categories
ones that the Applicant offers directly?
Yes or No.
BI-FS04
Provide the earliest date a Financial Services
transaction was completed.
Enter date.
BASIC FINANCIAL PRODUCT INFORMATION – AFFILIATE
The Applicant must enter Financial Product information for any Affiliate subject to review in connection
with any of the CDFI Certification requirements.
Note: AMIS may allow Affiliates that are Certified CDFIs, certified CDEs or have the sole activity of
offering other federal financial products, to omit certain Basic Financial Product Information for
Affiliates questions.
BASIC FINANCIAL SERVICES INFORMATION – AFFILIATE
The Applicant must enter Financial Services information for any Affiliate that is subject to review in
connection with any of the CDFI Certification requirements.
Note: AMIS may allow Affiliates that are Certified CDFIs, certified CDEs or have the sole activity of
offering other federal financial products, to omit certain Basic Financial Services Information for
Affiliates questions.
29
LEGAL ENTITY
To be a Certified CDFI, the Applicant must be duly organized and validly exist under the laws of the
State or jurisdiction in which it is incorporated or established as of the date the Application is submitted.
The Applicant must also have a valid EIN.
To complete the Legal Entity section of the Application, Applicants will:
- Review and confirm the information included in the auto-populated Legal Entity fields is correct.
If information is missing or inaccurate, submit all updates and make corrections on the
Organization Detail Page in AMIS. For assistance with technical issues, submit a Service Request
in AMIS.
- Provide information, as requested, in any of the Legal Entity fields that are not auto-populated.
- Attach original copies of all required Legal Entity documents, including any amendments.
- Include evidence that the Legal Entity documentation was filed and approved by the appropriate
government agency and of the date the documentation was filed or approved. A letter from a
government agency that is signed and dated by the appropriate official stipulating when the
Applicant’s legal documents were filed and signed, or a stamped document from the
government agency containing the date the documents were filed and initialed by the
appropriate government official may be submitted to meet this requirement.
The Applicant and/or Affiliate names should match those listed in the Basic Information section or, if
sufficient documentation or explanation cannot be provided, the Application may be rejected.
A regulated financial institution that does not have a charter issued by the appropriate Federal
Banking Agency or State Agency cannot apply for CDFI Certification. Regulated credit unions and
banks/thrifts or bank/thrift holding companies must include a copy of their charter.
Section
Question or purpose of data field
Response
LE1
Applicant EIN.
[Auto-populated].
LE2
Applicant EIN documentation
Indicate the type of documentation the
Applicant is providing as evidence of its EIN.
Select all that apply:
- Official letter from IRS
providing EIN.
- Confirmation fax from local
IRS office with the
organization’s name and
EIN.
- A printout of completed
and submitted online SS-4
(with organization’s EIN in
upper right hand corner)
from IRS website,
accompanied by a printout
30
Section
Question or purpose of data field
Response
of the online confirmation
of receipt of EIN from IRS
website.
LE3
Applicant’s EIN documentation
Attach a copy of each EIN documentation
selected in question LE02.
Attach documentation.
LE4
Date of
Incorporation/Organization/Establishment
[Auto-populated].
LE5
Applicant Institution Type.
[Auto-populated ].
LE6
Applicant Federal Regulator.
[Auto-populated ].
LE7
Applicant Charter Number.
[Auto-populated ].
LE8
Applicant FDIC Insurance Certificate Number.
[Auto-populated ].
LE9
Applicant RSSID Number.
[Auto-populated].
LE10
Applicant State or Other Regulator.
[Auto-populated].
LE11
If the Applicant is a depository institution,
identify the Applicant’s insurer.
- FDIC
- NCUA
- State Regulator
- Other
- None
- N/A
Applicants other than those
insured by the FDIC, NCUA or a
State Regulator must complete the
Financing Entity section of the
Application.
LE12
Applicant Legal Entity document(s).
Select all that apply:
- Articles of Incorporation
- Articles of Organization
- Certificate of Incorporation
- Organization Certificate
- Certificate of Formation
- Certificate of Existence
- Other Legal Entity
documentation (please
describe)
LE13
Applicant Legal Entity documentation:
Attach documentation selected in question LE12
that evidences the Applicant’s Legal Entity
status.
Attach documentation.
LE14
Applicant Legal Entity documentation:
Indicate how governing or managing
board/owner-approval of the Applicant’s Legal
Entity documentation and the date of approval
Select one:
- Legal Entity documentation
indicating date approved
by the governing or
managing board or the
31
Section
Question or purpose of data field
Response
is evidenced in the related documentation
attached to the Application.
owner, and signed by an
officer(s) of the
governing/managing
board, owner, or
authorized representative.
- A statement attached to
the Legal Entity
documentation indicating
date document(s) was
approved by the governing
or managing board or
owner and signed by an
officer(s) of the
governing/managing
board, owner, or
authorized representative.
- Official
governing/managing board
meeting minutes signed by
an officer(s) of the
governing/managing board
show the date of the
governing/managing board
meeting at which the Legal
Entity document(s) was
approved and clearly
indicate
governing/managing board
approval of the
document(s) at that
meeting.
- Other.
LE14.1
If “Other,” explain.
Provide explanation.
LE15
If governing or managing board or owner-
approval and/or the date of approval of the
Applicant’s Legal Entity documentation is not
evidenced within the relevant document itself:
Attach additional documentation that evidences
approval of the Applicant’s Legal Entity
documentation by the Applicant’s
governing/managing board or owner and the
date approved that is signed by an officer(s) of
the governing/managing board, a
Attach documentation.
32
Section
Question or purpose of data field
Response
managing/general partner, or a managing
member (or an authorized representative of a
general partner or managing member).
LE16
Have there been any amendments to the
Applicant’s Legal Entity documentation?
Yes or No.
LE16.1
If yes, attach all amendments.
Attach amendments.
LE17
If the Applicant seeks to use the CDFI
Certification provision for BG Program
participation, solely to participate in the CDFI BG
Program:
Attach the operating agreement between the
Applicant and a Controlling Certified CDFI that
includes management and ownership provisions.
The operating agreement will be evaluated to
ensure it is in a form and substance acceptable
to the CDFI Fund per 12 CFR 1805.201(b)(2)(C)(ii-
iii).
Attach operating agreement.
33
PRIMARY MISSION
A Certified CDFI shall have a primary mission of promoting community development.
In determining whether an entity has a primary mission of promoting community development, the CDFI
Fund will consider whether the activities of the Applicant (and of certain Affiliates) are purposefully
directed toward improving the social and/or economic conditions of underserved people
9
and/or
residents of economically distressed communities. As part of its assessment, the CDFI Fund will consider
whether the entity has a reasonable community development strategy and whether the entity meets
the CDFI Fund’s standards for responsible financing practices.
All Applicants with Affiliates must meet the Primary Mission requirements based on a review of their
own status and that of certain members in their family of affiliated entities.
DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs
An Applicant that is a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, including Subsidiaries
of a Tribal Government, is required by statute to meet the CDFI Certification requirements
based on a collective review of its family of entities. Such entities must demonstrate that any
Affiliate in its family of entities that meets any of the following criteria each individually meets
the Primary Mission requirements:
- The Affiliate is a DIHC or an IDI that Controls the Applicant;
- The Affiliate is Controlled by the Applicant and the Applicant is a DIHC; or
- The Applicant and the Affiliate are mutually Controlled by a DIHC or an IDI and the
Affiliate directly engages in the provision of Financial Products and/or Financial
Services.
Applicants other than DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs
Applicants (except a DIHC, Affiliate of a DIHC, or Subsidiary of an IDI) must demonstrate that any
Affiliate in its family of entities that meets any of the following criteria each individually meet
the Primary Mission requirements:
- The Affiliate Controls the Applicant, except if the Controlling entity is a Tribal
Government; or
- The Affiliate engages in the provision of Financial Products and/or in Financial
Services.
Affiliates listed in the Basic Information section that are separately-Certified CDFIs or
Community Development Entities (CDEs), as well as entities whose sole activity is the
9
Includes Low-Income persons and/or, as approved by the CDFI Fund, other persons who lack adequate access to
capital and/or Financial Services.
34
participation in other federal financing programs, are presumed to meet the CDFI Certification
Primary Mission requirements and are exempt from completing this section of the Application.
Spinoffs
Any Applicant that seeks to use the CDFI Certification provision for Spinoff entities must
demonstrate that the Applicant and/or original entity has had an acceptable primary mission of
community development in place for at least the full six months completed immediately prior to
submission of the CDFI Certification Application. Spinoffs also must demonstrate that all
relevant Affiliates each individually meets all of the Primary Mission criteria.
DOCUMENTING MISSION
The Applicant must be able to demonstrate that it has had an acceptable primary mission of community
development in place for at least the six full completed months immediately prior to submission of the
Application. Applicants also must demonstrate that any relevant Affiliate has a mission currently in place
that supports and/or is consistent with that of the Applicant’s.
To demonstrate that it has an acceptable primary mission, an entity must present documentation
specified by the CDFI Fund that clearly articulates that the entity’s primary purpose is to promote
community development and that demonstrates board or owner approval of that mission. Examples of
promoting community development include the provision of Financial Products/Services or other efforts
to promote affordable or Low-Income housing, public facilities, infrastructure or economic development
and/or the provision of community services such as childcare, education, healthcare, social services,
workforce development, etc.
COMMUNITY DEVELOPMENT STRATEGY
The Applicant must be able to demonstrate that it has an acceptable community development strategy
such that the Financial Products and/or Financial Services it offers support a community development
objective(s) for underserved populations and/or residents of economically distressed communities. To
demonstrate that it has an acceptable community development strategy, the Applicant must submit a
board -approved (or, for institutions without a board of directors, owner-approved) strategic plan that
shows evidence of such a community development strategy. (Affiliates are not required to demonstrate
a community development strategy, but must describe how their activities support and/or are
consistent with the community development mission of the Applicant.)
RESPONSIBLE FINANCING PRACTICES
To meet the CDFI Certification requirements for responsible financing practices, an entity should provide
Financial Products and Financial Services in a way that does not harm consumers. Financial Products
should be affordable and based upon a borrower’s ability to repay. CDFIs should practice transparency,
fair collections, and be in compliance with federal, state, and local laws.
To measure compliance with these principles, the Application asks a series of questions related to the
Applicant’s Financial Products and Financial Services, some of which may be disqualifying, while others
may be used holistically, to evaluate the Applicant’s practices as a whole.
35
Any Applicant that engages in the following practices is ineligible for CDFI Certification:
Originates or otherwise offers loans that exceed the interest limits that apply to non-depository
institutions in the state where the borrower resides;
Offers mortgage loan products that include negative amortization, interest-only payments, or
balloon payments; carry an original maximum term longer than 30 years; charge upfront points
and fees in excess of the Qualified Mortgage limits; fail to verify the income of the borrower; or
are underwritten at less than the maximum rate in the first five years;
Offers small business loan products that do not disclose, in writing, the periodic payment due,
the total amount to be repaid over the life of the loan, the total finance charges over the life of
the loan, or the annual percentage rate (APR) of the loan;
Sells its charged off debt to debt buyers;
Has a current Community Reinvestment Act rating below Satisfactory;
Uses its Equity Investment Financial Products to gain Control over an investee (except if the
Applicant must save a business through ownership as a last resort for a limited period of time);
or
Leverages, for its own benefit, the assets of any of its active equity investees.
Furthermore, Applicants that do not evaluate the ability of its consumer or small business borrowers to
repay a loan, or that offer such loans that allow for an APR in excess of 36%, may also be determined to
be ineligible for CDFI Certification, unless certain other conditions are met.
For purposes of calculating the APR for consumer loans, the CDFI Fund requires Applicants use the
methodology prescribed in 32 CFR § 232.4 of the Military Lending Act (referred to as the Military Annual
Percentage Rate (MAPR)), regardless of borrower status. This methodology captures interest and other
charges, including application fees and participation fees, sets a single standard for all Applicants, and
ensures that Applicants do not have incentives to disguise their rates by not including certain fees in
calculating the Annual Percentage Rate.
10
For purposes of calculating the APR for small business loans,
Applicants may use the standard Truth in Lending Act (TILA) methodology.
Depository institution Applicants must also provide information on checking or share account features
they offer, as well as information on any overdraft or nonsufficient funds (NSF) fees they charge. The
CDFI Fund considers the safety and affordability of an Applicant’s Financial Services to be an important
aspect of the Applicant’s commitment to a community development mission, and any Applicant offering
products that lack reasonable protections or that charge excessive fees, inconsistent with regulatory
guidance or a community development mission, may be determined ineligible for CDFI Certification.
PRIMARY MISSION - APPLICANT
Section
Question or purpose of data field
Response
PM01
Indicate the type(s) of document(s) presented as
evidence of the Applicant’s current primary
mission of promoting community development
(or, for Affiliates, a mission that supports and/or
Select all that apply.
- Legal Entity documents
- Bylaws
10
For additional guidance on calculating the MAPR, see the Consumer Financial Protection Bureau’s (CFPB) Military
Lending Act (MLA), Interagency Examination Procedures—2015 Amendments, Terms of Consumer Credit Extended
to Covered Borrowers (Calculation of MAPR) – 32 CFR 232.4, pp. 6-9.
36
Section
Question or purpose of data field
Response
is consistent with the community development
mission of the Applicant).
- Governing or managing
board resolution
- Owner resolution/directive
PM02
Attach all document(s) needed to evidence the
Applicant’s:
Current primary mission of promoting
community development (or, for
Affiliates, a mission that supports
and/or is consistent with the
community development mission of the
Applicant);
Governing or managing board or owner
approval of the current mission; and
Date the current mission went into
effect.
Attach all documents.
PM03
Indicate how the document(s) demonstrate
governing or managing board or owner approval
of the Applicant’s current mission
documentation.
Select all that apply:
- The document(s) is signed
by an officer(s) of the
governing or managing
board or the owner.
- The document(s) is
supplemented by official
governing/managing board
meeting minutes.
- The document(s) is
supplemented by a
statement that confirms
approval of the document(s)
by the governing or
managing board or owner,
and is signed by an officer(s)
of the governing or
managing board, owner, or
authorized representative.
PM04
Indicate how the document(s) demonstrates the
date the current mission went into effect.
Select all that apply:
- The document(s) shows the
date it was adopted via the
date it was signed.
- The document(s) is
supplemented by official
governing/managing board
meeting minutes that clearly
indicate the date of the
37
Section
Question or purpose of data field
Response
meeting at which the
document(s) was adopted.
- The document(s) is
supplemented by a
statement that clearly
indicates the date the
document(s) was approved
by the governing or
managing board or owner.
PM05
Applicant’s current mission as stated in the
attached mission documentation.
Enter current mission.
PM06
Page number(s) in the attached mission
documentation where the Applicant’s current
mission is articulated.
Enter Page Number(s).
PM07
Enter the date that the Applicant’s current
mission was formally approved.
Enter date.
PM08
Date by which an appropriate primary mission
must have been in place.
[Auto-populated].
If the date the Applicant’s current mission was formally approved is less than six full
months prior to the submission of the CDFI Certification Application:
PM08.1
Indicate the type(s) of document(s)
presented as evidence that the
Applicant had an immediate prior
primary mission of promoting
community development.
Select all that apply:
- Legal Entity documents
- Bylaws
- Governing or managing
board resolution
- Owner resolution/directive
PM08.2
Attach all document(s) needed to
evidence the Applicant’s:
Immediate prior primary
mission of promoting
community development;
Governing or managing
board or owner approval of
the immediate prior
mission; and
Date when the immediate
prior mission went into
effect.
Attach document(s).
PM08.3
Indicate how the document(s)
demonstrates governing or
managing board or owner approval
of the Applicant’s immediate prior
mission documentation.
Select all that apply:
- The document(s) is signed
by an officer(s) of the
governing or managing
board or the owner.
38
Section
Question or purpose of data field
Response
- The document(s) is
supplemented by official
governing/managing board
meeting minutes for the
meeting at which the
document(s) was adopted,
are signed by an officer(s) of
the governing/managing
board, and clearly indicate
approval of the document(s)
by the board.
- The document(s) is
supplemented by a
statement that confirms
approval of the document(s)
by the governing or
managing board or owner
and is signed by an officer(s)
of the governing or
managing board, owner, or
authorized representative.
PM08.4
Indicate how the document(s)
demonstrates the date the
immediate prior mission went into
effect.
Select all that apply:
- The document(s) shows the
date it was adopted via the
date it was signed.
- The document(s) is
supplemented by official
governing/managing board
meeting minutes that clearly
indicate the date of the
meeting at which the
document(s) was adopted.
- The document(s) is
supplemented by a
statement that clearly
indicates the date the
document(s) was approved
by the governing or
managing board or owner.
PM08.5
Enter the Applicant’s immediate
prior mission exactly as stated in the
attached mission documentation.
Enter mission statement(s).
PM08.6
For each type of document
presented as evidence of the
[The type(s) of document(s)
presented as evidence of current
39
Section
Question or purpose of data field
Response
Applicant’s immediate prior mission,
enter the page number(s) in that
document where the immediate
prior mission is articulated.
mission may be auto-populated
based on information entered in
PM08.1]
Enter page number.
PM08.7
Enter the date that the Applicant’s
immediate prior mission was
formally approved by its governing
or managing board or owner.
Enter date.
If the date the Applicant’s most recent prior mission is still less than six complete, full
months prior to the submission of the CDFI Certification Application, repeat the prior
mission documentation questions, as needed, until a full six-month’s timeframe has
been provided.
PRIMARY MISSION – APPLICANT – COMMUNITY DEVELOPMENT STRATEGY
PM09
What are the Applicant’s community
development objective(s) that address the social
and/or economic conditions of underserved
people and/or residents of economically
distressed communities?
Select all that apply:
- Promote housing
opportunity.
- Promote financial access
(e.g. access to capital in
persistent poverty
communities).
- Promote economic
development.
- Promote the development
of community facilities.
- Promote infrastructure
development.
- Promote the availability of
community services (such as
child care, education,
healthcare, social services,
workforce development,
etc.).
- Promote community
revitalization.
- Promote the availability of
consumer
products/services.
- Promote the closure of the
racial wealth gap.
- Promote the creation of
quality jobs.
- Promote business
development.
40
Section
Question or purpose of data field
Response
- Promote increased energy,
water, and/or location
efficiency.
- Promote financial inclusion
and access to affordable
Financial Services,
particularly for the un- and
under-banked and/or in
banking deserts (depository
institutions only).
- Other.
PM09.1
If “Other,” describe the objective
and explain why it can be
considered a community
development objective
Provide explanation.
PM10
For each community development objective
selected in question PM09, identify the type of
goal(s) supported by the Financial Product(s) in
which the Applicant engages.
[A list of the Applicant’s community
development objectives will be
auto-populated based on
information entered in PM09.]
Select all that apply:
- Business development.
- Asset/wealth building.
- Homeless/transitional
housing/services.
- Senior housing/services
- Community facilities
development/
improvements.
- Special needs
housing/services.
- Accessibility modifications.
- Affordable housing.
- Job creation/retention.
- Charter school
development.
- Community healthcare
centers development.
- Commercial real estate
development.
- Climate resilience
- Reduced poverty and/or
inequality.
- Credit building.
- Financial stability.
- Other.
PM10.1
If “Other,” describe.
Provide description.
41
Section
Question or purpose of data field
Response
PM11
Does the Applicant have a board- or owner-
approved strategic plan that provides evidence
of a community development strategy?
Yes or No
If No, the Applicant is not eligible for
Certification.
If Yes:
PM11.1
Attach board- or owner-approved
strategic plan that provides
evidence of a community
development strategy.
Attach document(s).
PM11.2
Identify the page number(s) from
the attached document(s) where
the community development
strategy is articulated.
Enter page number(s).
PM11.3
Provide a brief narrative that
describes the Applicant’s theory of
change, i.e., the community
development outcomes that the
Applicant believes will result from
the provision of its Financial
Products and Financial Services, and
how those Financial Products and
Financial Services lead to those
outcomes.
Provide narrative.
PRIMARY MISSION – APPLICANT - Responsible Financing Practices
Questions PM12-PM21 will be asked of Applicants that offer loan products (including credit cards or
purchased loans) only.
PM12
Beginning, at a minimum, 12 full months
immediately prior to submission of the
Application, do the Applicant’s underwriting
standards for each of its consumer, mortgage,
and/or small business loan products include
measures to ensure the borrower has an ability
to repay the loan according to the terms of the
loan, meet any of the borrower’s other major
financial obligations, and still pay basic
expenses, without having to reborrow or
refinance?
Select Yes or No or N/A (i.e. does
not offer consumer, mortgage, or
small business loan products).
If No, please explain.
Provide narrative.
An Applicant that does not consider
a borrower’s ability to repay a loan
may be determined ineligible for
CDFI Certification.
PM13
Beginning, at a minimum, 12 full months
immediately prior to submission of the CDFI
Certification Application, does the Applicant
Yes or No or N/A (i.e. does not offer
consumer loan products).
42
Section
Question or purpose of data field
Response
originate, purchase interests in, offer, market, or
service any consumer loan products (including
credit cards and purchased loans) that allow for
an annual percentage rate in excess of 36%
when that rate is calculated using the Military
Annual Percentage Rate (MAPR) standard
11
?
If Yes, the Applicant will be required
to respond to additional financing-
practices questions about the
consumer loan products that allow
for an annual percentage rate in
excess of 36% when that rate is
calculated using the MAPR standard.
If Yes:
Only for Applicants that originate,
purchase interests in, offer, market,
or service any consumer loan
products (including credit cards or
purchased loans) that allow for an
annual percentage rate in excess of
36% when that rate is calculated
using the MAPR standard.
PM13.1
What is the current highest
allowable MAPR charged on any of
the Applicant’s consumer loans
(including credit cards and
purchased loans)?
For each consumer loan product
with an allowable MAPR above
36%, enter loan product name and
highest allowable MAPR.
Questions PM13.2-PM13.7 - For any consumer loan product with a MAPR in excess of
36%, beginning, at a minimum, 12 full months immediately prior to submission of the
Application:
PM13.2
Did any of the loan products in
question have an annual default
rate over five percent?
12
Yes or No.
If Yes, the Applicant is not eligible
for CDFI Certification.
PM13.3
Do any of the loans in question
include a leveraged payment
mechanism?
13
Yes or No.
If Yes, the Applicant is not eligible
for CDFI Certification.
PM13.4
If the product in question includes
loans of $1,000 or less, have the
repayment timeframes been limited
to no more than 12 months?
Yes or No or N/A (i.e. does not offer
loans of $1000 or less).
If No, the Applicant is not eligible
for CDFI Certification.
PM13.5
For a period of 12 full months after
the issuance of such a loan, does the
Yes or No.
11
For additional guidance on calculating the MAPR, see the Consumer Financial Protection Bureau’s Military
Lending Act (MLA), Interagency Examination Procedures—2015 Amendments, Terms of Consumer Credit Extended
to Covered Borrowers (Calculation of MAPR) – 32 CFR 232.4, pp. 6-9.
12
Calculate on a per borrower basis for single payment loans.
13
The CDFI Fund will rely on the Consumer Financial Protection Bureau’s definition of a leveraged payment
mechanism: “a loan has a leveraged payment mechanism if the lender or a service provider has the right to initiate
a transfer of money, through any means, from a consumer’s account to satisfy an obligation on a loan….” See CFPB
final rule and interpretations, Payday, Vehicle Title, and Certain High-Cost Installment Loans, 12 CFR § 1041.3(c).
43
Section
Question or purpose of data field
Response
Applicant waive any upfront fees for
any refinance or new loan issued to
the same borrower?
If No, the Applicant is not eligible
for CDFI Certification.
PM13.6
Are all fees spread evenly over the
life of the loan and pro rata
refundable in the event of early
repayment (including through a
refinance) for each of the
Applicant’s installment loan
products in question?
Yes or No.
If No, the Applicant is not eligible
for CDFI Certification.
PM13.7
Are all loan payments substantially
equal and do they amortize
smoothly to a zero balance by the
end of the loan term for each of the
Applicant’s installment loan
products in question?
Yes or No.
If No, the Applicant is not eligible
for CDFI Certification.
PM14
Beginning, at a minimum, 12 full months
immediately prior to submission of the CDFI
Certification Application, does the Applicant
originate, purchase interests in, offer, market, or
service small business loan products (including
credit cards and purchased loans) that allow for
an annual percentage rate in excess of 36%?
Yes or No or N/A (i.e. does not offer
small business loan products).
If Yes, the Applicant will be required
to respond to additional financing-
practices questions about the small
business loan products that allow
for an annual percentage rate in
excess of 36%.
If Yes:
Only for Applicants that originate,
purchase interests in, offer, market,
or service any small business loan
products (including credit cards or
purchased loans) that allow for an
annual percentage rate in excess of
36%.
PM14.1
What is the current highest
allowable APR charged on any of the
Applicant’s small business loans
(including credit cards and
purchased loans)?
For each small business loan
product with an allowable APR
above 36%, enter loan product
name and highest allowable APR.
Questions PM14.2-PM14.5 - For any small business loan product with an APR in excess
of 36%, beginning, at a minimum, 12 full months immediately prior to submission of the
Application:
PM14.2
Did any of the loan products in
question have an annual default
rate over five percent?
14
Yes or No.
If Yes, the Applicant is not eligible
for CDFI Certification.
14
Calculate on a per borrower basis for single payment loans.
44
Section
Question or purpose of data field
Response
PM14.3
Do any of the loans in question
include a leveraged payment
mechanism?
15
Yes or No.
If Yes, the Applicant is not eligible
for CDFI Certification.
PM14.4
Are all fees spread evenly over the
life of the loan and pro rata
refundable in the event of early
repayment (including through a
refinance) for each of the
Applicant’s installment loan
products in question?
Yes or No.
If No, the Applicant is not eligible
for CDFI Certification.
PM14.5
Are all installment loan payments
substantially equal and do they
amortize smoothly to a zero balance
by the end of the loan term for each
of the Applicant’s installment loan
products in question?
Yes or No.
If No, the Applicant is not eligible
for CDFI Certification.
PM15
If the Applicant is a non-depository institution,
beginning, at a minimum, 12 full months
immediately prior to submission of the CDFI
Certification Application, does the Applicant
originate, purchase interests in, offer, market, or
service loans that exceed the interest limits that
apply to non-depository institutions in the state
where the borrower resides?
Yes or No or N/A (i.e., Applicant is a
depository institution).
If Yes, the Applicant is not eligible
for CDFI Certification.
PM16
Beginning, at a minimum, 12 full months
immediately prior to submission of the CDFI
Certification Application, for each of the
Applicant’s mortgage loan products, does the
Applicant:
PM16.1
Offer loans that include negative
amortization, interest-only
payments, or balloon payments?
Yes or No or N/A (i.e. does not offer
mortgage loan products).
If Yes, the Applicant is not eligible
for CDFI Certification.
PM16.2
Underwrite adjustable rate
mortgages at less than the
maximum rate in the first five years?
Yes or No or N/A (i.e. does not offer
mortgage loan products).
If Yes, the Applicant is not eligible
for CDFI Certification.
15
The CDFI Fund will rely on the Consumer Financial Protection Bureau’s definition of a leveraged payment
mechanism: “a loan has a leveraged payment mechanism if the lender or a service provider has the right to initiate
a transfer of money, through any means, from a consumer’s account to satisfy an obligation on a loan….” See CFPB
final rule and interpretations, Payday, Vehicle Title, and Certain High-Cost Installment Loans, 12 CFR § 1041.3(c).
45
Section
Question or purpose of data field
Response
PM16.3
Offer loans with an original
maximum term longer than 30
years?
Yes or No or N/A (i.e. does not offer
mortgage loan products).
If Yes, the Applicant is not eligible
for CDFI Certification.
PM16.4
Verify the income of the borrower?
Yes or No or N/A (i.e. does not offer
mortgage loan products).
If No, the Applicant is not eligible
for CDFI Certification.
PM16.5
Charge upfront points and fees in
excess of the Qualified Mortgage
limits
16
?
Yes or No or N/A (i.e. does not offer
mortgage loan products).
If Yes, the Applicant is not eligible
for CDFI Certification.
PM17
Beginning, at a minimum, 12 full months
immediately prior to submission of the CDFI
Certification Application, for each of the
Applicant’s small business loan products, does
the Applicant disclose in writing:
PM17.1
The periodic payment due?
Yes or No or N/A (i.e. does not offer
small business loan products).
If No, the Applicant is not eligible
for CDFI Certification.
PM17.2
The total amount to be repaid over
the life of the loan?
Yes or No or N/A (i.e. does not offer
small business loan products).
If No, the Applicant is not eligible
for CDFI Certification.
PM17.3
The total finance charges over the
life of the loan?
Yes or No or N/A (i.e. does not offer
small business loan products).
If No, the Applicant is not eligible
for CDFI Certification.
PM17.4
The annual percentage rate (APR) of
the loan?
Yes or No or N/A (i.e. does not offer
small business loan products).
If No, the Applicant is not eligible
for CDFI Certification.
16
The Qualified Mortgage rule places the following limits on upfront points and fees:
For a loan of $100,000 or more: 3% of the total loan amount or less.
For a loan of $60,000 to $100,000: $3,000 or less.
For a loan of $20,000 to $60,000: 5% of the total loan amount or less.
For a loan of $12,500 to $20,000: $1,000 or less.
For a loan of $12,500 or less: 8% of the total loan amount or less.
46
Section
Question or purpose of data field
Response
PM18
Select the tools the Applicant uses to assist
struggling borrowers.
Select all that apply:
- Fees or interest waivers
- Interest rate reductions
- Loan term extensions
- Principal forgiveness
- Other
- None
PM18.1
If “Other,” please describe.
Provide description.
PM19
Does the Applicant sell its charged off debt to
debt buyers?
Yes or No.
If Yes, the Applicant is not eligible
for CDFI Certification.
PM20
Does the Applicant report some or all consumer
Financial Product transactions to a major credit
bureau?
Yes or No or N/A (i.e. does not offer
consumer loan products).
PM21
If the Applicant is an FDIC-insured depository
institution or state-chartered commercial or
savings bank, does the Applicant have a current
Community Reinvestment Act rating of
Satisfactory or higher?
Yes, No, or N/A (i.e., not an FDIC-
insured depository institution.
If No, the Applicant is not eligible
for CDFI Certification.
Questions PM22-PM23 will be asked only of Applicants that offer Equity Investment Financial Products
PM22
Has the Applicant had a policy or practice in
place for its Equity Investment Financial
Products for, at a minimum, the 12 full months
immediately prior to submission of the
Application that prevents the Applicant from
gaining Control over an investee except if the
Applicant must save a business through
ownership as a last resort for a limited period of
time?
Yes or No or N/A (i.e. does not offer
equity products).
If No, the Applicant is not eligible
for CDFI Certification.
PM23
During the 12 full months completed
immediately prior to submission of the
Application, did the Applicant leverage, for its
own benefit, the assets of any of its active
investees?
Select Yes or No or N/A (i.e. does
not offer equity products).
If Yes, the Applicant is not eligible
for CDFI Certification.
RESPONSIBLE FINANCING PRACTICES – FINANCIAL SERVICES
Questions PM24-PM26 will be asked of depository institution Applicants only
PM24
Select each of the listed features associated with
a single checking or share account (including
checkless checking) offered by the Applicant.
Select all that apply:
- Free access to debit card
network for point of sale
and bill payment.
- Minimum opening deposit
of $25 or less.
47
Section
Question or purpose of data field
Response
- Monthly maintenance fee of
$5 or less if not waivable, or
$10 or less if waivable.
17
- No overdraft or
nonsufficient funds fees.
18
- No account activation,
closure, dormancy,
inactivity, or low balance
fees.
- Free and unrestricted
branch access or (for
Applicants without
branches) access to free
ATM network and free
remote deposits.
- Free and unrestricted
telephone banking
(including live support).
- Free and unrestricted in-
network ATM access.
- Out-of-network ATM fee of
$2.50 or less; or up to $3.00
if free access to a partner
ATM network is also
provided.
- Free deposit capability for
cash and checks in-branch
and at ATM (when
available), and direct
deposit.
- Free bill pay if available, or
at least four free money
orders and/or cashier
checks per month.
- Free check cashing for
checks issued by the
Applicant.
17
For monthly maintenance fee to be considered waivable, Applicant must offer at least two options to waive the
fee entirely with a single transaction (e.g. direct deposit with no minimum deposit, online bill pay, or debit card
purchase).
18
An overdraft fee is a fee or charge on a consumer's account held by the institution for paying a transaction
(including a check or other item) when the consumer has insufficient or unavailable funds in the account.
A nonsufficient funds fee is a fee or charge on a consumer's account held by the institution for a transaction
(including a check or other item) returned unpaid when the consumer has insufficient or unavailable funds in the
account.
48
Section
Question or purpose of data field
Response
- Free online banking, mobile
banking, and banking alerts
(if offered).
- Free electronic monthly
statements; or $2 or less for
mailed paper statements (if
offered).
- Account screening – only
deny new customers for
past incidences of actual
fraud.
- Alternative IDs (e.g.,
municipal, consular, etc.)
accepted.
- Free linked savings accounts
and account transfers.
- Money orders priced at the
U.S. Postal Service rate or
less.
- Competitively priced
remittances (international
wire).
- Credit building product
offerings such as secured
credit card or secured
personal loan available.
PM24.1
Identify the checking or share
account that includes each of the
selected features.
Name account.
PM25
For any of the Applicant’s depository accounts,
is the account holder subject to any potential
overdraft fees?
Select Yes or No.
If Yes:
PM25.1
Specify the highest dollar amount
charged for such a fee.
Enter number.
PM25.2
Specify any daily limits on the
number and frequency of such fees
that can be charged to an account
holder.
Enter number.
PM25.3
Specify any annual limits on the
number and frequency of such fees
that can be charged to an account
holder.
Enter number.
PM25.4
Select each of the listed features
included in the Applicant’s overdraft
program.
Select all that apply:
- No overdraft fees on debit
card purchases.
49
Section
Question or purpose of data field
Response
- No overdraft fees on ATM
withdrawals.
- No extended/sustained
overdraft fees.
- Grace period provided
before charging an overdraft
fee.
- Negative balances allowed
without triggering an
overdraft fee.
- Balance-related alerts
offered.
- Access to real-time balance
information.
- Consumer’s checking
account linked to another
account for overdraft
protection.
- Overdraft fees collected
from a consumer’s next
deposit only after other
items have been posted or
cleared.
- No additional fees charged
when an item is re-
presented.
PM26
For any of the Applicant’s depository accounts,
is the account holder subject to any potential
nonsufficient funds (NSF) fees?
Select Yes or No.
If Yes:
PM26.1
Specify the highest dollar amount
charged for such a fee.
Enter number.
PM26.2
Specify any daily limits on the
number and frequency of such fees
that can be charged to an account
holder.
Enter number.
PM26.3
Specify any annual limits on the
number and frequency of such fees
that can be charged to an account
holder.
Enter number.
PM26.4
Select each of the listed features
included in the Applicant’s NSF
policies.
Select all that apply:
- Balance-related alerts
offered.
- Access to real-time balance
information provided.
50
Section
Question or purpose of data field
Response
- NSF fees collected from a
consumer’s next deposit
only after other items have
been posted or cleared.
- No additional fees charged
when an item is re-
presented.
PRIMARY MISSION – AFFILIATES
For each Affiliate subject to review in connection with any of the CDFI Certification requirements, the
Applicant must provide the following Primary Mission information, as well as respond to relevant
Documentation and Responsible Financing Practices questions.
PM27
Describe the activities of the Affiliate and how
the Affiliate’s mission and activities support
and/or are consistent with the community
development mission of the Applicant.
Provide description.
51
FINANCING ENTITY
To meet the CDFI Certification Financing Entity test, an Applicant must demonstrate the following:
- Its predominant business activity is the provision of Financial Products and/or Financial
Services
19
and that it has been engaged in such activity for at least one full fiscal year. Unless
otherwise indicated, the provision of Financial Products must be arm’s-length and on-balance
sheet.
- It dedicates a predominance of both its assets and its staff time to the provision of Financial
Products and/or Financial Services. (Predominance does not require a majority, but occurs when
an amount is the greatest as compared to all other amounts.)
- It maintains sufficient capital to continue closing Financial Products for at least three months
from the date the CDFI Certification Application is submitted.
Entities participating in the CDFI Fund’s Bond Guarantee Program (BG Program)
- BG Program participants that are unable to meet CDFI Certification Financing Entity
requirements will, for the purpose of participating in the BG Program only, be deemed as
meeting the Financing Entity requirements if they are Controlled by a Certified CDFI.
- Entities seeking to obtain or maintain CDFI Certification solely for participation in the CDFI
Fund’s BG Program and that are Controlled by a Certified CDFI are allowed to meet CDFI
Certification requirements using on-balance sheet Financial Product activity that is not arm’s-
length, provided that the activity is by and between such entities and a Controlling Certified
CDFI. Such activity must be pursuant to operating agreements that include management and
ownership provisions and that are in a form and substance acceptable to the CDFI Fund (see 12
CFR 1805.201(b)(2)(C)(iii)).
Certain Regulated Financial Institutions
The following entities are presumed to meet the CDFI Certification Financing Entity requirements and
are exempt from completing this section of the Application, as long as their dates of incorporation,
organization, or establishment occurred at least one full fiscal year prior to submission of a CDFI
Certification Application:
- Depository Institution Holding Companies (DIHCs)
- Depository institutions with Federal Deposit Insurance Corporation (FDIC) insurance
- State-Insured Credit Unions (includes state-regulated credit unions)
CDFI Certification Provision for Spinoff Entities
To meet the Financing Entity requirements, in lieu of a history of closing Financial Product transactions
over the 12 months of the most recently completed full fiscal year, a Spinoff entity must demonstrate
19
Only depository institutions (bank/thrifts, credit unions or bank/thrift holding companies) may use Financial
Services to meet the Financing Entity test.
52
that it closed at least one Financial Product within the 12 months prior to submission of this Application
and must meet the following conditions:
1. Be a separate legal entity.
2. Have received a transferred Financial Product from at least one original entity.
3. Demonstrate that it currently offers at least one of the transferred Financial Products.
4. Demonstrate that at least one of the transferred Financial Products currently offered was
available from the original entity for at least the 12 full months completed immediately prior to
submission of this Application.
5. Demonstrate that at least one original entity from which it received any Financial Products had
an acceptable primary mission in place for at least the six full months immediately prior to
submission of this Application.
6. Demonstrate that it closed at least one Financial Product of the type transferred at any time
during the 12 full months immediately prior to submission of this Application, using its own
capital.
For the purposes of the Financing Entity test, the Spinoff should include any transferred Financial
Products and Financial Services assets that appear on its balance sheet as part of its own overall
Financial Product and Financial Services asset amounts.
ELIGIBLE FINANCIAL PRODUCTS/FINANCIAL SERVICES
20
Financial Products
Financial Products include loans, Equity Investments and other similar financing activities approved by
the CDFI Fund. Other similar financing activities currently pre-approved by the CDFI Fund as Financial
Products include:
- The provision of loan guarantees;
- Forgivable loans that require at least one payment within 12 months of the loan closing date;
- The purchase of loans originated by a Certified CDFI;
- The purchase of loans originated by entities that do not have CDFI Certification but were made
to members of the Applicant’s Target Market(s); and
- Credit cards.
If an entity wants to include any financing other than the pre-approved similar financing activities as
Financial Products for the purpose of meeting any CDFI Certification requirements, it must obtain prior
approval from the CDFI Fund to do so.
Financial Services
20
Financial Products and Financial Services are defined by the CDFI Fund in the CDFI Program Revised Interim
Regulations, 12 CFR Part 1805.104
53
Financial Services can be used to meet the CDFI Certification requirements by depository institutions
only.
Financial Services include the provision of checking and savings accounts, check cashing, money orders,
money market accounts, certified checks, automated teller machines, safe deposit box services, and
other similar services.
If a depository institution wants to include any similar financial service as an eligible Financial Service for
the purposes of meeting any of the CDFI Certification requirements, it must obtain prior approval from
the CDFI Fund.
ASSETS DEDICATED TO, DERIVED FROM, OR AVAILABLE FOR THE DIRECT PROVISION OF FINANCIAL
PRODUCTS AND/OR FINANCIAL SERVICES
Unless otherwise directed, information on assets dedicated to or derived from the provision of Financial
Products and/or Financial Services, or available within three months of submission of the Application to
finance Financial Product closings, should be based on assets held directly by the Applicant. If
consolidated statements that do not show the Applicant’s assets separately from other affiliated entities
are presented, the Application will be rejected.
Furthermore, Applicants must base all assets dedicated to or derived from the provision of Financial
Products and/or Financial Services, or available within three months of submission of the Application to
finance Financial Product closings, on assets held directly by the Applicant. Such assets must be reflected
in the Applicant’s current, non-consolidated, fiscal year-to-date balance sheet with an “as of” date no
more than 45 days prior to the CDFI Certification Application submission date. Examples of assets
dedicated to or derived from the provision of Financial Products and/or Financial Services include
cash/cash equivalents, loans receivable, Equity Investments, pre-paid expenses, equipment, and
buildings/real estate. Assets available within the next three months to finance Financial Product closings
include cash/cash equivalents, Financial Product receivables, accounts receivable, etc.
Assets dedicated to or derived from the provision of Financial Products and/or Financial Services
include:
- The portion of any assets reflected in the Applicant’s current fiscal year-to-date balance sheet
that are derived from or currently available to be used as capital to finance its Financial Product
closings.
- The portion of any assets reflected in the Applicant’s current fiscal year-to-date balance sheet
used to support staffing costs and other operating needs related to its direct provision of
Financial Products.
- For depository institutions that do not automatically qualify as Financing Entities (e.g.,
banks/thrifts that do not have federal deposit insurance or holding companies that do not meet
the CDFI Fund’s definition of a DIHC), the portion of any assets held by an Applicant directly, as
reflected in its current, non-consolidated, fiscal year-to-date balance sheet, that are derived
from or are currently available to support the direct provision of Financial Services.
54
The CDFI Fund does not consider the following types of activities as assets that support the direct
provision of Financial Products and/or Financial Services:
- Real estate development
- Property management
- Financing for affiliated individuals or entities (unless the Applicant is using the CDFI
Certification provision for participants in the CDFI Fund’s Bond Guarantee Program)
- Financing products or services not approved by the CDFI Fund as eligible Financial Products
or Financial Services
- Loan originating, servicing, or packaging for financing provided by other entities
- Grant-making
- Development Services
- Other non-financing activities
STAFF TIME DEDICATED TO THE DIRECT PROVISION OF FINANCIAL PRODUCTS AND/OR FINANCIAL
SERVICES
Unless otherwise directed, the staffing information provided in the Financing Entity section of the
Application should be based on the Applicant’s staffing levels and activity only.
Staffing allocations for the Financing Entity predominance test must be based on the manner an
Applicant used its staff time during the 12 full months just prior to the submission of this Application.
The Applicant should calculate the average FTE staff time available to it during the last 12 full months
and identify how that time was allocated to its different activities. If an Applicant relies on staffing
provided by another entity, only the portion of the other entity’s FTE staff time that is spent directly on
the activities undertaken on behalf of the Applicant should be included.
PREDOMINANCE AS A FINANCING ENTITY
The Applicant’s assets and staffing information must demonstrate that the direct provision of Financial
Products and/or Financial Services is the Applicant’s predominant business activity.
To be predominant, the provision of Financial Products and/or Financial Services does not have to be the
majority of the Applicant’s overall activity, but must be the activity that reflects the greatest use of the
Applicant’s assets and staff time when compared to any other separate and distinct type of activity in
which the Applicant engages. No other single activity type should claim more of an Applicant’s assets
and staff time.
All assets held by an Applicant and all available staff time, including those that do not support the direct
provision of Financial Products and/or Financial Services, must be presented in connection with the
Financing Entity predominance test. However, Applicants that engage in significant Financial Product
and/or Financial Services business activity but who also have major assets that skew their asset or
staffing data such that the direct provision of Financial Products and/or Financial Services does not
appear to be the predominant activity, may request that certain assets and/or staff time be excluded
from consideration. When requesting that asset or staff time be excluded from consideration for the
Financing Entity predominance test, the Applicant must provide an explanation of why such assets
incorrectly appear to indicate that it is not predominantly a Financing Entity, or why the assets are
essential for it to conduct its Financial Product and/or Financial Services activity. The CDFI Fund
55
maintains sole discretion to determine the applicability of such assets and/or staff time in meeting the
Financing Entity test.
Types of major assets that may be disregarded as counting towards the predominance test include:
Large endowments held by entities that have acted as traditional foundations but that have
shifted their activities and staff time to provide more Financial Products than grants and are
community development focused (as per business strategy).
Real property held by entities because they own their own building where a percentage of the
building supports the provision of Financial Products and/or Financial Services.
Real property held by entities because it was donated and the entities intends to sell it within
the next fiscal year and some or all of the revenue raised will be used to support the provision of
Financial Products and/or Financial Services.
Real estate to be sold or transferred to non-Affiliated third parties in order to support real
estate development financing activity (Financial Products for real estate development must be
offered).
The Applicant must obtain prior approval to exclude any major assets and/or staff time for any related
financing activity not included above.
SUFFICIENT CAPITAL TO CONTINUE CLOSING FINANCIAL PRODUCT TRANSACTIONS
The Applicant must possess sufficient capital to sustain its Financial Product activity. Generally, the CDFI
Fund deems that an entity has sufficient capital to continue its eligible Financial Product activity if it has
enough capital available to close at least one Financial Product transaction within the next three
months, with a dollar volume that is typical for the Applicant based on its Financial Product offerings.
The Applicant must provide information on liquid assets as identified in the Applicant’s current year-to-
date balance sheet and off-balance sheet capital sources. Types of capital that should not be included as
available to finance Financial Product closings include, but are not limited to, cash needed for operations
and cash or other liquid assets that have been earmarked, set aside, or board- or funder-designated for
activity other than eligible financing. This may include, but is not limited to, capital designated for
financing products or services not approved by the CDFI Fund as eligible Financial Products or Financial
Services by the CDFI Fund; grant making; real estate development; property management; and land
acquisition.
FINANCING ENTITY – APPLICANT ONLY – GENERAL INFORMATION
Section
Question or purpose of data field
Response
FE-1
If the Applicant has indicated that it is seeking to use the CDFI Certification BG Program
provision:
FE-1.1
Is the Applicant Controlled by a
Certified CDFI that has a date of
incorporation/organization/
establishment at least 12 full
months prior to submission of the
Yes or No.
56
Section
Question or purpose of data field
Response
Affiliate’s CDFI Certification
Application?
FE-01.2
Will the Applicant use Financial
Product activity that is not arm’s-
length to meet any of the Financing
Entity requirements?
Yes or No.
FE-2
Do the Applicant’s financial statements and
balance sheets show assets held by the Applicant
separately and independently from all other
entities (i.e., in a non-consolidated manner)?
Yes or No.
If No, the Applicant is not eligible
for Certification.
FE-3
Attach Applicant’s financial statements for its most
recently completed fiscal year with non-
consolidated balance sheet information.
Attach document(s).
FE-4
Attach Applicant’s current fiscal year-to-date
financial statements with non-consolidated balance
sheet information.
Attach document(s).
FE-5
Identify “As of” date for the Applicant’s current
fiscal year-to-date balance sheet.
(Must be no more than 45 days prior to the date of
submission of the CDFI Certification Application.)
Enter Month/Date/Year.
FINANCING ENTITY – APPLICANT ONLY – ASSET PREDOMINANCE – NON-CONSOLIDATED CURRENT
FISCAL YEAR-TO-DATE DATA
Section
Question or purpose of data field
Response
FE-A1
Applicant’s Total Assets
Provide the total assets from current fiscal year-
to-date balance sheet held by the Applicant only.
Enter Applicant only total assets.
FE-A2
Does the Applicant request that any of its assets
(as listed in the Applicant’s current fiscal year-to-
date, non-consolidated balance sheet) be
disregarded for the purposes of the Financing
Entity predominance test?
Yes or No.
If Yes:
FE-A2.1
Identify the line item in the current
fiscal year-to-date, non-consolidated
balance sheet for which the
Applicant requests that some or all
of the related asset be disregarded.
Enter balance sheet line item
name.
FE-A2.2
Indicate how the asset is used that
qualifies it to be disregarded.
Select one:
- Endowment
- Portion of owned building
used to support the direct
57
Section
Question or purpose of data field
Response
provision of Financial
Products and/or Financial
Services
- Donated real property to be
sold within the next fiscal
year to raise funds to
support the direct provision
of Financial Products and/or
Financial Services
- Real estate to be
sold/transferred to non-
Affiliated third parties in
order to support real estate
development financing
activity (Financial Products
for real estate development
must be offered)
- Other
FE-A2.2a
If “Other,” identify the
other asset use.
Enter use.
FE-A2.2b
Has this asset use been
pre-approved by the
CDFI Fund as one for
which some or all of
the assets used in that
manner can be
disregarded for the
purposes of the CDFI
Certification Financing
Entity predominance
test?
Yes or No.
If No, the asset will not be
disregarded towards meeting the
predominance test.
FE-A2.2c
Attach approval letter.
Attach relevant disregarded asset
approval letter from the CDFI Fund.
FE-A2.3
Indicate the dollar amount for the
portion of the line item in the
current fiscal year-to-date balance
sheet to be disregarded.
Enter dollar amount.
FE-A2.4
Explain how the amount of the asset
that the Applicant seeks to be
disregarded was determined.
Enter explanation.
If the Applicant has more than one balance sheet line item and/or asset use for which it
requests that some or all of the relevant assets be disregarded for the purposes of the
Financing Entity predominance test, repeat the data entry for each such item.
FE-A3
Based on the Applicant’s assets from the current fiscal year-to-date, non-consolidated
balance sheet, for each line item for which some or all of the asset is currently dedicated
58
Section
Question or purpose of data field
Response
to, derived from, or related to the direct provision of Financial Products and/or Financial
Services:
FE-A3.1
Identify the line item.
Enter balance sheet line item
name.
FE-A3.2
Indicate how the asset qualifies as
being dedicated to, derived from, or
related to the direct provision of
Financial Products and/or Financial
Services.
Select one:
- Capital dedicated to or
derived from the direct
provision of Financial
Products and/or Financial
Services.
- Portion of owned building
from which revenue is
generated that supports the
direct provision of Financial
Products and/or Financial
Services.
- Portion of owned
equipment used for the
direct provision of Financial
Products and/or Financial
Services.
- Loans receivables dedicated
to or derived from the
direct provision of Financial
Products and/or Financial
Services.
- Other.
If ”Other”:
FE-A3.2a
Identify the asset for
which some or all of
the assets qualifies as
being dedicated to,
derived from, or
related to the direct
provision of Financial
Products and/or
Financial Services.
Enter activity.
FE-A3.2b
Has this asset been
pre-approved by the
CDFI Fund as qualifying
as being dedicated to,
derived from, or
related to the direct
provision of Financial
Products and/or
Financial Services?
Yes or No.
If No, the asset will not qualify
towards meeting the
predominance test.
59
Section
Question or purpose of data field
Response
FE-A3.2c
Attach approval letter.
Attach document.
FE-A3.3
Indicate the dollar amount for the
portion of the line item that is
dedicated to, derived from, or
related to the direct provision of
Financial Products and/or Financial
Services.
Enter dollar amount.
FE-A3.4
Explain how the amount was
determined.
Enter explanation.
If the Applicant has more than one balance sheet line item for which some or all of the
related assets are dedicated to, derived from, or related to the direct provision of
Financial Products and/or Financial Services, repeat data entry for each such item.
FE-A4
Based on assets in the Applicant’s current fiscal year-to-date, non-consolidated balance
sheet, for each line item for which some or all of the asset is currently dedicated to an
activity other than the direct provision of Financial Products and/or Financial Services and
that has not been listed as disregarded for the purposes of the Financing Entity
predominance test:
FE-A4.1
Identify the line item.
Enter balance sheet line item
name.
FE-A4.2
Identify the relevant activity(ies)
associated with the asset.
Select one:
- Real estate development
- Property management
- Ineligible financing activity:
o Financing to
affiliated individuals
or entities
o Financing
products/services
not approved by
the CDFI Fund as
eligible Financial
Products or
Financial Services
o Loan
packaging/originati
on/servicing for
financing provided
by another
entity(ies)
o Grant-making
- Development Services
- Training, Counseling and/or
technical assistance that
does not qualify as
Development Services
- Other
60
Section
Question or purpose of data field
Response
FE-A4.2a
If “Other,” describe.
Enter description.
FE-A4.3
Indicate the dollar amount for the
portion of the line item that is
dedicated to the selected activity.
Enter dollar amount.
FE-A4.4
Explain how the amount was
determined.
Enter explanation.
If the Applicant has more than one balance sheet line item for which some or all of the
related assets are dedicated to an activity other than the direct provision of Financial
Products and/or Financial Services, repeat data entry for each such item.
FE-A5
Summary of total assets by activity:
FE-A5.1
Disregarded Assets.
[Auto calculated].
(Based on entries in FE-A2)
FE-A5.2
Assets dedicated to, derived from,
or related to the direct provision of
Financial Products and/or Financial
Services.
[Auto calculated].
(Based on entries in FE-A3)
FE-A5.3
Real estate development.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.4
Property management.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.5
Ineligible Financing to affiliated
individuals or entities.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.6
Financing products/services not
approved by the CDFI Fund as
eligible Financial Products or
Financial Services.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.7
Loan packaging/origination/
servicing for financing provided by
another entity(ies).
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.8
Grant-making.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.9
Development Services.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.10
Training, counseling and/or
technical assistance that does not
qualify as Development Services.
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.11
Other
[Auto calculated].
(Based on entries in FE-A4)
FE-A5.12
Total.
[Auto calculated].
61
Section
Question or purpose of data field
Response
(Should match entry in FE-A1)
If the share of all assets held by the Applicant
(other than disregarded assets) that are
dedicated to an activity other than eligible
financing is greater than the share of the
Applicant’s overall assets dedicated to, derived
from, or related to the direct provision of
Financial Products and/or Financial Services,
explain why the Applicant should nevertheless be
considered predominantly a Financing Entity.
Provide explanation.
FINANCING ENTITY – APPLICANT ONLY - STAFFING ALLOCATIONS
Section
Question or purpose of data field
Response
FE-AS1
Applicant’s Average Total Full Time Equivalent
(FTE) Staff for the 12 months immediately prior to
the submission of the CDFI Certification
Application.
FE-AS2
Does the Applicant request that any of its FTE staff
be disregarded for the purposes of the Financing
Entity predominance test?
Yes or No.
If “Yes”:
FE-AS2.1
Indicate the use of FTE staff that
qualifies it to be disregarded for the
purposes of the Financing Entity
predominance test.
Select all that apply:
- Endowment management
- Management of portion of
owned building used to support
the direct provision of Financial
Products and/or Financial
Services
- Management of donated Real
Property to be sold to raise
funds to support the direct
provision of Financial Products
and/or Financial
- Management of real estate to
be sold/transferred to non-
Affiliated third parties in order
to support real estate
development financing activity
(Financial Products for real
estate development must be
offered)
- Other
62
Section
Question or purpose of data field
Response
If “Other:”
FE-AS2.1a
Identify the other FTE
staff use.
Enter use.
FE-AS2.1b
Has this FTE staff use
been pre-approved by
the CDFI Fund as one
for which some or all of
the FTE staff used in
that manner can be
disregarded for the
purposes of the CDFI
Certification Financing
Entity predominance
test?
Yes or No.
FE-AS2.1c
Attach approval letter.
Attach relevant disregarded staff time
approval letter from the CDFI Fund.
FE-AS2.2
Indicate the amount of the
Applicant’s average FTE staff to be
disregarded.
Enter FTE staff number.
FE-AS2.3
Explain how the amount of FTE staff
to be disregarded was determined.
Enter explanation.
FE-AS3
For FTE staff dedicated or related to the provision of Financial Products and/or Financial
Services:
FE-AS3.1
Indicate the use of FTE staff that
qualifies it as being dedicated or
related to the provision of Financial
Products and/or Financial Services.
Select all that apply:
- General entity administration
that supports the provision of
Financial Products and/or
Financial Services
- Direct staffing for the provision
of Financial Products and/or
Financial Services
- Marketing and outreach for the
provision of Financial Products
and/or Financial Services
- Fundraising/raising capital for
the provision of Financial
Products and/or Financial
Services
- Other (explain)
If “Other:”
FE-AS3.1a
Identify the other FTE
staff use.
Enter use.
FE-AS3.1b
Has this FTE staff use
been pre-approved by
the CDFI Fund as one
Yes or No
63
Section
Question or purpose of data field
Response
for which some or all of
the staff time used in
that manner qualifies
as being dedicated or
related to the provision
of Financial Products
and/or Financial
Services for the
purposes of the CDFI
Certification Financing
Entity predominance
test?
FE-AS3.1c
Attach approval letter.
Attach financing-related activity
approval letter(s) from the CDFI Fund.
FE-AS3.2
Indicate the average amount of
overall FTE staff dedicated or
related to the provision of Financial
Products and/or Financial Services.
Enter Average FTE staff number.
FE-AS3.3
Explain how the amount was
determined.
Enter explanation.
FE-AS4
For FTE staff dedicated to activity other than the provision of Financial Products and/or
Financial Services and that has not been listed as disregarded for the purposes of the
Financing Entity predominance test:
FE-AS4.1
Identify the relevant activity(ies).
Select one:
- Real estate development
- Property management
- Ineligible financing activity
o Financing to affiliated
individuals or entities
o Financing
products/services not
approved by the CDFI
Fund as eligible
Financial Products or
Financial Services
o Loan
packaging/origination/
servicing for financing
provided by another
entity(ies)
o Grant-making
- Development Services
- Training, counseling and
technical assistance that does
not qualify as Development
Services
64
Section
Question or purpose of data field
Response
- Other
FE-AS4.1a
If “Other,” describe.
FE-AS4.2
Indicate the amount of the
Applicant’s average FTE staff
dedicated to the selected activity.
Enter FTE staff number.
FE-AS4.3
Explain how the amount was
determined.
Enter explanation.
If the Applicant has more than one type of activity for which related staff time are dedicated
to an activity other than the direct provision of Financial Products and/or Financial Services,
repeat the data entry for each relevant activity type.
FE-AS5
Summary of total staff time by activity:
FE-AS5.1
Disregarded FTE staff.
[Auto calculated].
(Based on entries in FE-AS2)
FE-AS5.2
FTE staff dedicated to, derived from,
or related to the direct provision of
Financial Products and/or Financial
Services.
[Auto calculated].
(Based on entries in FE-AS3)
FE-AS5.3
Real estate development.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.4
Property management.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.5
Ineligible financing to affiliated
individuals or entities.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.6
Financing products/services not
approved by the CDFI Fund as
eligible Financial Products or
Financial Services.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.7
Loan packaging/origination/
servicing for financing provided by
another entity(ies).
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.8
Grant-making.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.9
Development Services.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.10
Training, counseling and technical
assistance that does not qualify as
Development Services.
[Auto calculated].
(Based on entries in FE-AS4)
FE-AS5.11
Other.
[Auto calculated].
(Based on entries in FE-AS4)
65
Section
Question or purpose of data field
Response
FE-AS5.12
Total.
[Auto calculated].
(Should match entry in FE-AS1)
If the share of any of the Applicant’s average FTE
staff (other than disregarded staff time) that has
been dedicated to an activity other than eligible
financing activity is greater than the share of the
Applicant’s average FTE staff dedicated to the
provision of Financial Products and/or Financial
Services, explain why the Applicant should still
be considered predominantly a Financing Entity.
Provide explanation.
FINANCING ENTITY – APPLICANT ONLY – CAPITAL TO FINANCE FINANCIAL PRODUCT CLOSING OVER
NEXT THREE MONTHS
Section
Question or purpose of data field
Response
FE-AC1
Average dollar amount of a Financial Product
transaction financed by the Applicant over the 12
months immediately prior to the submission of the
Application.
Enter dollar amount.
FE-AC2
Based on assets in the current fiscal year-to-date balance sheet, for each line item for which
some or all of the asset will be available during the next three months to finance the
Applicant’s Financial Product closings:
FE-AC2.1
Identify the line item.
Enter balance sheet line item name(s).
FE-AC2.2
Indicate why the asset is considered
to be liquid and available to finance
the Applicant’s Financial Product
closings over the next three months.
Select all that apply:
- Cash/cash equivalent asset
designated as Financial Product
capital
- Current asset that is or will
become a cash/cash equivalent
asset within the next three
months and that will be
designated as Financial Product
capital
- Portion of owned building from
which revenue is generated that
is designated as Financial
Product capital
- Other
FE-AC2.2a
If “Other,” explain.
Provide explanation.
FE-AC2.3
Indicate the dollar amount for the
portion of the line item that will be
available to finance the Applicant’s
Financial Product closings.
Enter dollar amount.
66
Section
Question or purpose of data field
Response
FE-AC2.4
Explain how the amount was
determined.
Provide explanation.
If the Applicant has more than one balance sheet line item for which some or all of the
related assets will be available to finance its Financial Product closings over the next three
months, repeat the data entry for each such item.
FE-AC3
Does the Applicant have any off-balance sheet
capital that will be available to it during the next
three months to finance its eligible Financial
Product closings?
Yes or No.
If Yes:
FE-AC3.1
Indicate the type of off-balance
sheet capital available.
Select type.
- Line of credit
- Grant or loan funds formally
committed
- Capital held by an Affiliate
formally committed
- Other (explain)
FE-AC3.1a
If “Other,” explain.
Provide explanation
FE-AC3.2
Provide the dollar amount available.
Enter dollar amount.
FE-AC3.3
Explain why the off-balance sheet
capital is considered to be formally
committed.
Narrative.
FE-AC3.4
Provide documentation evidencing
that the off-balance sheet capital is
formally available and that includes
amount available.
Attach document(s).
If the Applicant has multiple off-balance sheet capital sources available, repeat data entry
for each source.
FE-AC4
Total capital available to finance eligible Financial
Product closings over the next three months.
[Auto-calculated.]
(Based on entries in FE-AC2 and FE-AC3)
FE-AC5
Is the available capital greater than the average
dollar amount of a Financial Product transaction
financed by the Applicant over the 12 months
immediately prior to the submission of the
Application?
[Auto-populated.]
Yes or No.
If No, the Applicant is not eligible for
CDFI Certification.
67
TARGET MARKET
To be a Certified CDFI, an entity must demonstrate that it serves at least one eligible Target Market
(either an Investment Area or a Targeted Population). In addition, it must direct at least 60% of both the
number and dollar volume of arm’s-length, on-balance sheet Financial Products to one or more eligible
Target Market(s).
Financial Services Option
A Depository Institution that has directed less than 60% but at least 50% of the dollar volume of
its Financial Products, and at least 60% of the total number of its Financial Products to one or
more eligible Target Market(s), also has the option of meeting the Target Market test by
demonstrating that at least 60% of its total unique depository account holders are members of
one or more eligible Target Market(s).
New CDFI Applicants must meet the applicable Target Market percentage benchmarks over its most
recently completed fiscal year prior to submission of the Application. To maintain Certification, Certified
CDFIs must demonstrate compliance with the Target Market percentage benchmarks based on a three-
year average through the last day of their most recently completed fiscal year.
21
To confirm activity to
the Target Market, transaction level data will be submitted annually through the TLR.
All Applicants must meet the applicable Target Market percentage benchmarks as stated. If an Applicant
falls below the required level for any of the applicable Target Market percentage benchmarks, it will not
be eligible for CDFI Certification.
As a means of meeting the Target Market requirements, an entity may serve a combination of eligible
Target Markets. However, for the purposes of calculating the overall Target Market percentage of an
entity’s activity, each Financial Product transaction or Financial Service item may be counted towards
only one Target Market component (even if the transaction or account qualifies as having been directed
to more than one Target Market component).
COLLECTIVE REVIEW FOR DIHCs, AFFILIATES OF DIHCS, OR SUBSIDIARIES OF IDIs
For a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI to be certified as a CDFI, it must meet the
Target Market requirements both:
- Individually, based on the Applicant’s own Financial Product and, if elected, Financial Services
activity; and
- Collectively, based on the aggregate Financial Product and, if elected, Financial Services activity
of the Applicant and any Affiliate in its family of entities.
21
Certified CDFIs with less than three years of CDFI Certification or reported data in the TLR will be evaluated
based upon the full history of their reported financing activity, up to three full fiscal years, but not earlier than one
full fiscal year prior to the submission of their Application.
68
ALTERNATIVE PROVISIONS BY ENTITY TYPE
The following entities may meet the CDFI Certification Target Market requirements through the
provisions described.
Depository Institution Holding Companies (DIHCs)
DIHCs that do not directly provide Financial Products or Financial Services, may rely on the activity of all
relevant Affiliates subject to the statutory CDFI Certification collective review process. If a DIHC
Applicant’s Affiliates have also applied for CDFI Certification, the DIHC will present only the aggregate
Financial Product and, if elected, Financial Services activity of all relevant Affiliates for review.
Entities participating in the CDFI Fund’s Bond Guarantee Program (BG Program)
Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s BG Program
may meet CDFI Certification Target Market requirements using Financial Product activity that is not
arm’s-length, provided that the activity is by and between such entities and their Controlling Certified
CDFIs. Such activity must be pursuant to operating agreements that include management and ownership
provisions and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR
1805.201(b)(2)(C)(iii)).
Spinoffs
If an entity is eligible for the CDFI Certification provision for Spinoffs (as described in the Financing Entity
section of the Application), it must include the following Financial Product and Financial Services activity
data for review in connection with the Target Market requirements:
- Any Financial Product transactions it closed during the most recently completed full fiscal year,
including any Financial Product transactions received as part of a spun-off Financial Product
portfolio that were closed by the original entity during the most recently completed fiscal year
and that remain on the Spinoff’s balance sheet as of the end of that fiscal year; and
- Any depository accounts held by the Spinoff entity that were still open as of the end of the
entity’s most recently completed fiscal year.
An entity spun off from a CDFI is not eligible for this provision.
ELIGIBLE TARGET MARKETs
An entity’s Target Market can be comprised of one or more of the following Target Market components.
Investment Area
An Investment Area meets at least one of the following economic distress criteria and has significant
unmet needs for Financial Products and Services, or are wholly located within an Empowerment Zone or
Enterprise Community (as designated under section 1391 of the Internal Revenue Code of 1986 (26
U.S.C 1391)).
69
Economic Distress Criteria:
- Poverty rate greater than 20%;
- Median family income (MFI) at 80% or below specific MFI benchmarks; or
- Unemployment rate 1.5 times the national average.
There are two types of Investment Areas (IAs):
Pre-qualified Investment Area – Qualified Census Tracts Only
A pre-qualified Investment Area consists only of individual census tracts that the CDFI Fund has
determined meet one or more of the statutory economic distress criteria. If an Applicant elects to serve
an Investment Area comprised of qualified census tracts only, the Financial Product and/or Financial
Services activity that falls within qualified census tracts anywhere within the United States and its
territories, as demonstrated by using the CDFI Fund’s approved assessment methodologies, is counted
as being within the entity’s Target Market.
Customized Investment Areas
Applicants also may establish a customized Investment Area consisting of specially designated
geographic areas that:
- Include a contiguous mix of both qualified and non-qualified geographic units of a single type,
which may be census tracts, non-Metro counties, or parishes; and
- validate as a distressed community per the CDFI Fund’s mapping system by meeting the
following criteria:
o More than 85% of the population must be in qualified geographic units.
o The geographic units must be contiguous.
If an Applicant designates a customized Investment Area as a Target Market component, only the
Financial Products and/or Financial services activity that falls within the boundaries of the mix of tracts is
counted as being within a Target Market.
Although financing activity can occur and be counted in individually non-qualifying census tracts within a
customized Investment Area, the Applicant must direct at least 85% of its customized Investment Area
financing activity within the individually qualified census tracts of that customized Investment Area for
activity in the non-qualifying tracts to count toward the 60% Target Market benchmark. Likewise,
Applicants must direct at least 85% of eligible financing activity that occurs within non-Metro counties
or parishes that qualify as an Investment Area wholly within the individually qualified census tracts of a
non-Metro county. The Applicant must use the CDFI Fund’s approved assessment methodologies to
demonstrate that it is serving the customized Investment Areas.
Targeted Population
A Targeted Population is defined as individuals, or an identifiable group of individuals who are Low-
Income or lack adequate access to Financial Products or Financial Services. The Targeted Population is
specific to the individual borrowers whose socio-economic characteristics are used to determine
inclusion in the Target Market. The Applicant must use the CDFI Fund’s approved assessment
methodologies to demonstrate that it serves the Targeted Population.
70
Targeted Populations include:
Low-Income Targeted Population (LITP)
Individuals qualify as members of the Low-Income Targeted Population (LITP) if their family income is:
- For Metropolitan Areas:
o 80% of the area median family income (adjusted for family size); or
- For non-Metropolitan Areas, the greater of:
o 80% of the area median family income (adjusted for family size); or
o 80% of the statewide non-Metropolitan Area median family income (adjusted for family
size).
Other Targeted Populations (OTP)
Other Targeted Populations currently recognized by the CDFI Fund are:
- Other Targeted Population – African American
- Other Targeted Population – Hispanic
- Other Targeted Population – Native American (with maintained tribal affiliation or community
connection)
- Other Targeted Population – Native Alaskan residing in Alaska (with maintained tribal affiliation
or community connection)
- Other Targeted Population – Native Hawaiian residing in Hawaii
- Other Targeted Population – Other Pacific Islander residing in Other Pacific Islands
- Other Targeted Population – Persons with Disabilities
- Other Targeted Population – Certified CDFIs
Targeted Populations that are not already recognized by the CDFI Fund must be approved by the CDFI
Fund before they can be included as part of an entity’s Target Market for CDFI Certification purposes.
To request such approval, Applicants must submit a Service Request in AMIS for the CDFI Fund’s
consideration in advance of an Application submission that includes the following information:
A name and description of the Other Targeted Population;
A narrative that demonstrates that the specific Other Targeted Population(s) has significant
unmet capital or financial services needs; and
Specific studies or surveys (published by credible independent third party sources within five
years prior to the submission of the Certification Application) for the immediate (not national)
geographic population service area.
MAPPING REQUIREMENTS
Target Market maps are required for Customized Investment Area Target Market Components and
certain Other Targeted Populations.
71
The CDFI Information Mapping System (CIMS) provides mapping and geocoding capabilities to support
the Application process and to assess the eligibility of investments, lending, and Financial and
Development Services activities in specific geographic areas. Applicants are able to upload and process
accurate batch geo-coding of addresses, whether these be prospective locations for individual projects
or actual transactions funded, and to confirm addresses of relevant board members.
Maps must be created for each proposed Customized Investment Area Target Market and for any newly
requested Other Targeted Populations not already on the CDFI Fund’s list of currently recognized Other
Targeted Populations. Applicants creating maps for a new Application or modifying an existing
Customized Investment Area Target Market must utilize the most recent set of eligible census tracts
deployed for use by the CDFI Fund. Refer to the CIMS user guidance for further information on creating
Target Market maps.
COMPILING TARGET MARKET DATA
Data on Financial Product activity presented for review in connection with the Target Market
requirements must be submitted in the TLR based on the date the Financial Product transactions were
closed or, in the case of active, outstanding Loan Purchases, on the date the bundle of loans were
purchased.
Even if related funds were not disbursed on that date or were not eventually fully disbursed, the
transaction amounts must be the total amount of financing approved.
The CDFI Fund counts credit card products and lines of credit as Financial Products. Credit card and lines
of credit product activity should be presented for review in connection with the Target Market
requirements as follows:
- Each new account opened and issued will count as one Financial Product transaction.
- The date an account was opened and issued will be considered the date the Financial Product
transaction was closed; not each time the credit is used, nor each year the credit is used.
- The credit limit approved when the account was first opened will constitute the transaction
amount, not individual charges or draws or the outstanding balance.
The CDFI Fund counts loan purchases from CDFIs and Target Market loans purchased from non-CDFIs as
Financial Products. Loan Purchases should be presented for review in connection with the Target Market
requirements as follows:
- Loan Purchases from CDFIs, whether purchased individually or in bundle, are recognized as
Financial Products directed to an “OTP – Certified CDFIs” Target Market. Each bundled Loan
Purchase from a CDFI will count as a single Financial Product transaction.
- Target Market loans purchased from non-CDFIs are recognized as Financial Products directed to
the Target Market(s) of the original borrowers. Applicants that purchase Target Market loans
from non-CDFIs in bundle may count each of the purchased loans as a single Financial Product
transaction.
Note: Upon Certification, certain organizational information about the Applicant and its activities may
be posted on the CDFI Fund’s public website for the purpose of creating a public list and description of
Certified CDFIs.
72
Target Market Assessment Methodologies
A Target Market assessment methodology or combination of such methodologies must be used to verify
whether or not Financial Products, depository accounts, board members, and/or credit union members
meet the Target Market criteria.
Only those methodologies approved by the CDFI Fund may be used when compiling Target Market data.
A list of pre-approved Target Market assessment methodologies can be found on the CDFI Fund website.
Applicants may request separate approval of a methodology not previously approved by the CDFI Fund.
Applicants that seek to use a Target Market assessment methodology other than one that appears on
the list of pre-approved methodologies, including the use of programmatic proxy assessments, must
submit a Service Request in AMIS for the CDFI Fund to consider in advance of an Application submission.
For each proposed methodology, the Applicant should include the following information in its AMIS
Service Request:
The applicable Target Market (IA/LITP/OTP)
Data Collected (e.g. data fields, time period, reporting level)
Model/Method design (e.g. mathematical equations, relationship between data fields, etc.)
Documents reviewed (e.g. contracts, agreements, white paper, etc.)
The step by step process used to collect the data and review any documents or run the model
and process its results
If proposing a programmatic proxy, the step by step process used to compare programmatic
data to CDFI Fund definitions (e.g. income sources, income thresholds, etc.)
Any record keeping process
The process for updating any methodology dependent on underlying data changes
All Target Market assessment methodologies – whether from the list of pre-approved methodologies or
approved separately – must be used exactly as approved, unless and until modification of the process is
authorized by the CDFI Fund.
Section
Question or purpose of data field
Response
TM01
Identify a proposed Target Market.
Select at least one:
- Investment Area – Pre-
qualified.
- Investment Area –
Customized.
- Low-Income Targeted
Population.
- Other Targeted Population
– African American.
- Other Targeted Population
– Hispanic.
- Other Targeted Population
– Native American.
73
Section
Question or purpose of data field
Response
- Other Targeted Population
– Native Alaskan residing
in Alaska.
- Other Targeted Population
– Native Hawaiian residing
in Hawaii.
- Other Targeted Population
– Other Pacific Islander
residing in Other Pacific
Islands.
- Other Targeted Population
– Persons with Disabilities.
- Other Targeted Population
– Certified CDFIs.
- New Targeted Population
(Pre-approved by the CDFI
Fund).
TM02
If the proposed Target Market is a Customized
Investment Area:
Identify the map that represents the Customized
Investment Area, including both qualified and non-
qualified census tracts.
Enter map name.
TM03
If the proposed Target Market is an Investment
Area:
TM03.1
What type(s) of Financial Product(s)
and/or Financial Service(s) is needed
within the Investment Area, but is not
currently available at a level sufficient to
meet the need?
Select all that apply:
- Small dollar loans
- Small business loans
- Microenterprise loans
- Equity Investments
- Mortgage loans
- Down payment and closing
cost assistance loans with
deferred repayment
- Community facility loans
- Affordable housing
development loans
- Access to affordable
Financial Services
(depository institutions
only)
- Other
TM03.1a
If Other, explain.
Provide explanation.
TM03.2
Indicate the basis for the Applicant’s
determination both that there exists a
need for the Financial Products and/or
Provide narrative.
74
Section
Question or purpose of data field
Response
Financial Services identified within the
Investment Area and that they are not
currently available at sufficient levels to
meet the existing need.
TM04
If the Applicant selected “New Targeted
Population” in question TM01, has the new
Targeted Population been pre-approved by the
CDFI Fund?
Yes or No.
If No, the Applicant cannot
propose a new Targeted
Population.
If Yes:
TM04.1
Enter the name of the new Targeted
Population exactly as it appears in the
approval letter from the CDFI Fund.
Enter name.
TM04.2
Attach a letter from the CDFI Fund
approving the new Targeted Population.
Attach letter.
TM05
Is the Applicant proposing multiple Target Markets?
Yes or No.
If yes, the Applicant will need to
repeat the Target Market data
entry for each proposed Target
Market component.
TM06
Target Market assessment methodology attestation
– Financial Product(s) and/or Financial Service(s):
Applicant attests that only a CDFI Fund-approved
Target Market assessment methodology(ies) was
and will continue to be used to determine whether
or not Financial Product transactions and/or
depository accounts have been directed to an
eligible Target Market.
Yes or No.
TM07
Identify the Target Market assessment
methodology(ies) used by the Applicant.
Select all that apply.
- OTP-AA.1: Self Report.
- OTP-AA.2: Visual & ID.
- OTP-Hisp.1: Self Report.
- OTP-Hisp.2: Visual & ID.
- OTP-Hisp.3: Surname.
- OTP-Native American.1:
Tribal Document.
- OTP-Native Alaskan.1:
Tribal Document.
- OTP-Native Hawaiian.1:
Registry Card.
- OTP-Pacific Islander.1: Self
Report.
- OTP-Pacific Islander.2:
Visual & ID.
75
Section
Question or purpose of data field
Response
- OTP-PWD.1: Self Report.
- OTP-PWD.2: Visual & ID.
- OTP-PWD.3: Technology/
Accessibility.
- OTP-Certified CDFI.1:
Certified CDFI.
- LITP.1: Full Family Income
Data.
- LITP.2: Programmatic
Proxy.
- IA.1: Residence.
- IA.2: Project/Service.
- Separately approved
assessment methodology.
TM07.1
If LITP.2 (programmatic proxy), identify
the programmatic proxy.
Select all that apply.
- HOME.
- SSDI and/or SSI.
- Housing Choice
Voucher/Section 8.
- CDBG Program.
- WIC.
- SNAP/Food Stamps.
- NSLP.
- Separately approved
programmatic proxy.
If “Separately approved programmatic
proxy:”
TM07.1a
Identify the LITP
programmatic proxy(ies) the
Applicant used and
separately approved by the
CDFI Fund.
Provide narrative.
TM07.1b
Attach approval letter(s)
from the CDFI Fund for any
Financial Product activity-
related LITP programmatic
proxy used by the Applicant.
Attachment(s).
TM07.2
If “Separately approved assessment
methodology:”
TM07.2a
Identify the Target Market
assessment
methodology(ies) used by
the Applicant and separately
approved by CDFI Fund.
Provide narrative.
TM07.2b
Attach approval letter(s)
from the CDFI Fund for the
Attachment(s).
76
Section
Question or purpose of data field
Response
assessment
methodology(ies).
77
TARGET MARKET – GENERAL FINANCIAL PRODUCTS AND FINANCIAL SERVICES ACTIVITY
INFORMATION
Section
Question or purpose of data field
Response
TM-G01
Financial Product transaction types closed by the
Applicant during its most recently completed fiscal
year.
[The Financial Product types will
auto-populate based on
information provided in “Basic
Information – Table 1: Financial
Product Information.”]
TM-G02
Does the Financial Product activity data include any
Other similar financing that does not appear on the
approved list of Financial Products?
Yes or No.
If Yes:
TM-G02.1
Enter the product name of the Other
similar financing.
Enter names(s).
TM-G02.2
Attach a letter from the CDFI Fund
approving the Other similar financing.
Attach documentation.
Question TM-G03 will be asked only of depository institution Applicants that have selected to use
Financial Services to meet the Target Market test
TM-G03
Identify all of the Financial Services account types for
which the Applicant’s depository account holders had
open as of the last day of last full month completed just
prior to submission of the CDFI Certification
Application.
Select all that apply:
- Savings/Share Accounts
- Checking Accounts
- Certificates of Deposit
- Money Market Accounts
- Specialized Savings
Accounts
- Specialized Checking
Accounts
TARGET MARKET ACTIVITY – APPLICANT AND RELEVANT AFFILIATE(S) – FINANCIAL PRODUCT AND
FINANCIAL SERVICES ACTIVITY BY FINANCIAL PRODUCT/FINANCIAL SERVICES CATEGORY AND TARGET
MARKET COMPONENT (MOST RECENTLY COMPLETED FISCAL YEAR)
Applicant and relevant Affiliate(s) data, presented by Financial Product category, will be collected in the
TLR. The data must include all Financial Product transactions, by number and dollar, that were closed
during the Applicant’s most recently completed fiscal year. Transactions provided to the proposed
Target Market components must be identified in the TLR in order to count towards the 60%
requirement. In order to be approved for each Target Market component identified in the TLR, the
Applicant will need to demonstrate the appropriate level of accountable board members using
appropriate sources of accountability.
78
(Simulated Table – actual display in AMIS may differ)
Target Market Table 1: Financial Products Test
Proposed Target Market
Components
Percent of Target Market
Financial Products – Number
Percent of Target Market
Financial Products – Dollar
Volume
[Auto display each TM
component]
[Auto calculated]
[Auto calculated]
Total Target Market
[Auto calculated]
[Auto calculated]
Target Market threshold met?
[Auto display – Yes or No]
[Auto display – Yes or No]
Depository Institutions selecting the option to use Financial Services to meet the Target Market test
because their Target Market Financial Product dollar volume is between 50% - 59%, must also enter the
data for all relevant, unique depository account holders as of the fiscal year end in the TLR.
(Simulated Table – actual display in AMIS may differ)
Target Market Table 2: Financial Services Test
Proposed Target
Market Components
Percent of Target
Market Financial
Products – Number
Percent of Target
Market Financial
Products – Dollar
Volume
Percent Target Market
unique depository
account holders
[Auto display each TM
component]
[Auto calculated]
[Auto calculated]
[Auto calculated]
Total Target Market
[Auto calculated]
[Auto calculated]
[Auto calculated]
Target Market
threshold met?
[Auto display – Yes or
No]
[Auto display – Yes
or No]
[Auto display – Yes or
No]
79
DEVELOPMENT SERVICES
To be a Certified CDFI, the Applicant shall provide Development Services in conjunction with its Financial
Products either directly, through an Affiliate, or through a contract with another provider.
A Development Service is a formal, structured, stand-alone training, counseling, or technical assistance
service that promotes access to and/or success with an entity’s Financial Products, and that the entity
offers separately and distinctly from its other products/services.
CDFI Certification Applicants must:
Offer at least one Development Service;
Demonstrate that they maintain control over the content and delivery parameters of their
Development Service(s);
Clearly link the Development Service(s) provided by the Applicant, a relevant Affiliate or
third party entity under an agreement, to at least one of the Applicant’s Financial Products;
Make at least one Development Service available on an ongoing basis at least four times per
year;
Development Services should address subject matter that prepares consumers to access and be
successful in using an entity’s Financial Products (e.g., first-time homebuyer counseling for prospective
mortgage borrowers).
Publically-available online training can be considered a Development Service only if the Applicant can
demonstrate that it has a relationship with the developer of the training, either because the Applicant is
the developer, an Affiliate is the developer, or the Applicant has a service agreement in place with the
developer.
The CDFI Fund does not consider the following activities to be Development Services:
- Training, counseling, or technical assistance not clearly intended to prepare consumers to access
and/or be successful with a Financial Product offered by the Applicant. Examples of such
services include workforce development, parenting training/support groups, and
training/counseling intended solely to enable consumers to access financing provided by other
entities.
- The process of making referrals, whether it be to training, counseling, or technical assistance
available to services provided at the discretion of other entities.
- Information presented in newsletters, flyers, or online.
- Workshops for children or conferences/workshops for broad audiences.
- Presentations made at one-off events (e.g. annual conferences, fairs), or at events held by other
entities.
80
- Marketing events/activities.
- Services provided at the will and discretion of other entities (e.g., publically-available online
training).
- Unstructured conversations with consumers on Development Services subject matter.
Applicants participating in the CDFI Fund’s BG Program
Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI BG
Program may be exempt from the following Development Services requirements that require
training/counseling to be:
- Offered at arm’s-length; and/or
- Provided in connection with financing products or services that the Applicant offers on-balance
sheet, but not at arm’s length.
To qualify for this exemption, the training/counseling and/or the related non-arm’s-length financing
products or services must be provided by and between such entities and their Controlling Certified CDFI.
Such activities must be pursuant to operating agreements that include management and ownership
provisions and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR
1805.201(b)(2)(C)(ii-iii)) and the relevant training/counseling must meet all other Development Services
requirements.
Section
Question or purpose of data field
Response
DS01
Does the Applicant seek to use the CDFI
Certification provision for BG Program
participation, solely to participate in the CDFI
Fund’s BG Program, to meet the CDFI
Certification Development Services
requirements?
Yes or No.
If Yes:
DS01.1
If the Applicant seeks to meet the
CDFI Certification Development
Services requirements using
training/counseling it offers, but
not at arm’s length:
Identify the page number(s) and/or
section(s) of the operating
agreement between the Applicant
and a Controlling Certified CDFI
that indicates that the
training/counseling activity is by
and between the Applicant and the
Enter page number(s) and/or
section(s) and provide relevant text.
81
Section
Question or purpose of data field
Response
Controlling Certified CDFI, and
provide the relevant text.
DS01.2
If the Applicant seeks to meet the
CDFI Certification Development
Services requirements using
training/counseling it provides in
connection with a financing
product(s) or service(s) it offers on-
balance sheet, but not at arm’s
length:
Identify the page number(s) and/or
section(s) of the operating
agreement between the Applicant
and a Controlling Certified CDFI,
indicating such financing product(s)
or service(s) for which
training/counseling is being
provided, is offered by and
between the Applicant and its
Controlling Certified CDFI, and
provide the relevant text.
Enter page number(s) and/or
section(s) and provide relevant text.
DS02
Identify the topic of a Development Service
currently offered by the Applicant (directly or
through another provider/resource) to un-
Affiliated third parties that promotes success
with at least one of the Applicant’s Financial
Products or Financial Services?
Select topic:
- Financial Education/Financial
Literacy.
- Credit Building.
- Financial Management.
- Small Business Development.
- Homeownership
Counseling/Foreclosure
Prevention.
- Nonprofit Capacity Building.
- Affordable
Housing/Commercial Real
Estate Development.
- Basic Banking Skills.
- Introduction to retirement
saving.
- Financial
Management/Budgeting.
- Banking for businesses.
- Other.
DS02.1
If “Other,” describe the topic and
explain how it is relevant as a
Development Service.
Provide narrative.
82
Section
Question or purpose of data field
Response
DS03
Is this Development Service being offered by the
Applicant in connection with one of its Financial
Product(s)?
Yes or No.
DS03.1
If yes, identify at least one Financial
Product purpose that is offered by
the Applicant that is directly
related to the Development Service
topic.
Select all that apply:
- Home Purchase.
- Home Improvement.
- Real Estate–Construction/
Permanent/Acquisition
without Rehabilitation–
Commercial.
- Real Estate–Construction–
Housing–Multi Family.
- Real Estate–Construction–
Housing–Single Family.
- Real Estate–Rehabilitation–
Commercial.
- Real Estate–Rehabilitation–
Housing–Multi Family.
- Real Estate–Rehabilitation–
Housing–Single Family.
- Consumer.
- Non-Real Estate Business.
- Non-Real Estate
Microenterprise.
- Climate-Centered Finance.
- Other.
DS03.1a
If “Other,” describe.
Provide narrative.
DS04
Identify the entity that provides one or more
Development Services.
Select all that apply:
- Applicant.
- Affiliate(s).
- Non-Affiliate(s) (e.g., contractor).
DS04.1
If “Non-Affiliate,” provide
agreement.
Attach Agreement(s).
83
ACCOUNTABILITY
To be a CDFI, an entity must maintain accountability to residents of its Investment Area or Targeted
Population, through representation by individuals on its governing board and/or Advisory Board(s).
Individual accountability to a Target Market may be demonstrated through any of the following means:
Investment Area (IA)
Low-Income Targeted
Populations (LITP)
Other Targeted Population
(OTP)
Residence in a qualified census
tract
Status as a Low-Income
individual
Status as a member of the
Targeted Population
Status as an owner of a small
business located in a qualified
census tract(s) or owner of a
small business that principally
employs and/or principally
provides goods or services to
residents of the IA
Status as an executive staff
member of a third party,
mission-driven organization that
primarily provides services to
Low-Income people
Status as an executive staff
member of a Certified CDFI
(OTP-CDFI only)
Status as an elected official
primarily representing residents
of qualified census tracts
Status as an executive staff
member of a third party,
mission-driven organization that
primarily provides services to
the Other Targeted Population
(OTP – Persons with Disability
only)
Status as an executive staff
22
member of a third party,
mission-driven organization that
primarily provides services to
residents of a qualified census
tract(s)
Status as a family member of a
person with disability (OTP –
Persons with Disability only)
The CDFI Fund requires that a governing board consist of no less than three (3) members and that an
Advisory Board consist of no less than five (5) members.
In determining whether an Applicant maintains accountability to its proposed Target Market(s),
Applicants must demonstrate accountability to a proposed Target Market(s) through at least one of the
following options:
22
Executive Staff means all directors and executive officers (e.g. President, Vice-President, Chief Financial Officer)
of a company vested with the powers to manage and supervise the day-to-day affairs of an organization.
84
Option 1: Governing Board Only
At least one governing board member is accountable to each proposed Target Market, and
At least 33% of the governing board is accountable to the overall proposed Target
Market(s);
Option 2: Governing Board Supplemented by Advisory Board
At least 20% of the governing board members are accountable to at least one proposed
Target Market;
At least one Advisory Board member is accountable to each proposed Target Market;
At least 60% of the Advisory Board is accountable to the overall proposed Target Market(s);
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
Option 3: Credit Union Membership Supplemented by Advisory Board (Credit Union Applicant
Only)
At least 33% of a credit union’s members are determined to be members of an individual
Target Market, using a CDFI Fund-approved Target Market assessment methodology;
At least one Advisory Board member is accountable to each proposed Target Market;
At least 60% of the Advisory Board is accountable to the overall proposed Target Market(s);
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
Option 4: Advisory Board Only (DIHC and IDI Applicants, and Applicants without a formal
governing board only):
At least one Advisory Board member is accountable to each proposed Target Market;
At least 80% of the Advisory Board is accountable to the overall proposed Target Market(s);
At least one governing board member or partner/owner of the Applicant entity has a seat
on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
Assessing an Advisory Board
In addition to the review of each board member, the CDFI Fund also will assess an Advisory
Board to verify:
It is governed by an organizational accountability policy.
It meets a minimum of three (3) times a year.
How the board members were selected.
It uses its connection with the Target Market to obtain input that informs the
recommendations to the governing board.
The activities/policies on which it provides input to the governing leadership.
85
Assessing an Organizational Accountability Policy
At minimum, an organizational accountability policy must include a description of the
following:
The role of the Advisory Board, including methods by which the Advisory Board has
the opportunity to provide advice to the governing board and other decision-makers
(e.g. regular meetings, written feedback on strategic decisions, etc.)
How the Applicant informs itself about the Target Market(s) (e.g. gathers data,
engages in outreach to community members, etc.)
FINANCIAL INTEREST POLICY
The CDFI Fund's financial interest policy for CDFI Certification Accountability is intended to prevent
board members with certain types of financial interest in an organization (either directly or via a family
member) from being considered accountable to any Target Market component, as the financial interest
may conflict with a board member's ability to effectively represent the interests of the Target Market.
Governing Board and Advisory Board members who are principals (i.e., individuals owning or controlling
at least 25% of an entity) or staff members of the Applicant organization or its Subsidiaries or Affiliates,
or whose family members are principals or staff members, cannot be used to demonstrate Target
Market Accountability. A financial conflict of interest also includes board members who have active loan
products from the Applicant or that receive financial compensation for their board service above and
beyond any reasonable cost reimbursement for travel or expenses incurred.
For purposes of the financial conflict policy, relevant family members include spouses; children
(including step-, in-law, and adopted children); or other family members of the board member’s
household (e.g., siblings (including step-, half, and in-law siblings; parents (including step- and in law
parents); and grandparents related by blood or adoption).
ACCOUNTABILITY – GENERAL INFORMATION
Section
Question or purpose of data field
Response
AC01
Source of Accountability – Applicant
Select one:
- Governing board only.
- Governing board and
Advisory Board.
- Credit union membership
and Advisory Board (credit
union only).
- Advisory Board only (DIHCs,
IDIs, and those with no
formal governing board
only).
AC02
Source of Accountability – Affiliate(s)
Select one:
- Governing board.
- Governing board and
Advisory Board.
86
Section
Question or purpose of data field
Response
- Credit union membership
and Advisory Board (credit
unions only).
- Advisory Board only (DIHCs,
IDIs, and those with no
formal governing board
only).
ACCOUNTABILITY – GOVERNING AND/OR ADVISORY BOARD (IF APPLICABLE)
Section
Question or Purpose of data field
Response
AC03
If the Applicant or any relevant Affiliate will use its
governing board to maintain Accountability to the
Applicant’s proposed Target Market(s), identify
that board.
Enter board name.
If the Applicant or any relevant Affiliate will use
credit union membership and an Advisory Board
to maintain Accountability to the Applicant’s
proposed Target Market(s):
AC03.1
Total number of credit union
members active with the Applicant as
of the last day of the last month of the
12 full months completed immediately
prior to submission of the Application.
Enter number.
AC03.2
Identify Target Market that will be
used to demonstrate accountability
through credit union membership.
Select one:
- Investment Area – Pre-
qualified.
- Investment Area –
Customized.
- Low-Income Targeted
Population.
- Other Targeted Population
– African American.
- Other Targeted Population
– Hispanic.
- Other Targeted Population
– Native American.
- Other Targeted Population
– Native Alaskan residing in
Alaska.
- Other Targeted Population
– Native Hawaiian residing
in Hawaii.
- Other Targeted Population
– Other Pacific Islander
87
Section
Question or Purpose of data field
Response
residing in Other Pacific
Islands.
- Other Targeted Population
– Persons with Disabilities.
- Other Targeted Population
– Certified CDFIs.
- New Targeted Population
(Pre-approved by the CDFI
Fund).
AC03.2a
If “New Targeted
Population,” enter the
name of the Targeted
Population exactly as it
appears in the approval
letter from the CDFI Fund.
Enter name.
AC03.3
What is the total number of credit
union members who are members of
this Target Market?
Enter the total number of credit
union member who are members
of the Target Market.
AC03.4
Calculate percentage of credit union
members who are members of this
Target Market.
[May auto-calculate]
Enter percentage of credit union
members who are members of the
Target Market.
AC03.5
Applicant attests that only a CDFI
Fund-approved Target Market
assessment methodology(ies) has
been and will continue to be used to
determine whether credit union
members are of an eligible Target
Market.
Yes or No.
AC04
If the Applicant or any relevant Affiliate will use an
Advisory Board to maintain Accountability to the
Applicant’s proposed Target Market(s), identify
that Advisory Board.
Enter board name.
AC04.1
Does the Applicant have an
organizational accountability policy
that has been board approved?
Yes or No.
If No, the Applicant is unable to
use an Advisory Board.
If Yes:
AC04.1a
Does the policy describe
the role of the Advisory
Board?
Yes or No.
AC04.1b
Does the policy detail how
the Advisory Board informs
itself about the Target
Market?
Yes or No.
88
Section
Question or Purpose of data field
Response
AC04.1c
Does the policy describe
the Advisory Board method
for providing advice to the
governing board?
Yes or No.
AC04.1d
Attach the board approved
organizational
accountability policy.
Attach.
AC04.2
Does the board meet at least three (3)
times a year?
The CDFI Fund requires the Advisory
Board to meet at least three (3) times
a year.
Yes or No.
If no, the Applicant is not eligible
for Certification.
AC04.3
Basis upon which members of the
Advisory Board are selected.
Select one or more:
- For ability to solicit
feedback from the Target
Market.
- For knowledge of the
needs and condition of the
Target Market.
- For knowledge of Financial
Products and/or Financial
Services.
- For knowledge of strategic
planning and/or policies
and procedures for
financial institutions.
- Other.
AC04.3a
If “Other,” describe the
other basis upon which
Advisory Board members
are selected.
Provide description.
AC04.4
How do Advisory Board members
obtain their input from the proposed
Target Market?
Selection one or more:
- Direct involvement with
the Target Market.
- Focus groups.
- Participation in community
meetings.
- Survey.
- Review of research reports.
- Other.
AC04.4a
If “Other,” describe the
other ways in which
Advisory Board members
Provide description.
89
Section
Question or Purpose of data field
Response
obtain their input from the
proposed Target Market.
AC04.5
On what activities/policies does the
Advisory Board provide input to the
governing leadership?
Select one or more:
- Loan Product/Financial
Services development.
- Organizational Policy
development.
- Strategic planning.
- Marketing strategies.
- Development Services.
- Other.
AC04.5a
If “Other,” describe the
other activities/policies for
which the Advisory Board
provides input to the
governing leadership.
Provide description.
Applicants will enter all relevant board member data in questions AC05-AC13 for each board and
for each board member.
AC05
Total number of board members.
Enter number.
AC06
Board member name.
Enter name.
AC07
If the Applicant is using an Advisory Board to meet
the Accountability test, does the member of the
Advisory Board also serve on the Applicant’s
governing board or is the member also a
partner/owner?
Yes or No.
AC08
Is this board member or any member of their
family an employee of the Applicant or any of its
Affiliates?
Yes or No.
If Yes, no further information on
this board member is required as
this board member is ineligible to
be presented as accountable.
If No, continue to the next
question.
AC09
Does the board member or any member of their
family, individually or in combination, own or
control 25% or more of the Applicant or any of its
Affiliates?
Yes or No.
If Yes, no further information on
this board member is required as
this board member is ineligible to
be presented as accountable.
AC10
Does the board member, the board member’s
employer, or any member of the board member’s
family have an active Financial Product from the
Applicant?
Yes or No.
If Yes, no further information on
this board member is required as
90
Section
Question or Purpose of data field
Response
this board member is ineligible to
be presented as accountable.
If No, continue to the next
question.
AC11
Does the board member receive financial
compensation for their service on the board other
than reimbursement for travel or other expenses
incurred as a result of their service as a board
member?
Yes or No.
If Yes, no further information on
this board member is required as
this board member is ineligible to
be presented as accountable.
AC12
Is this board member accountable to a Target
Market?
Yes or No.
If No, no further information on
this board member is required.
If Yes, continue to the next
question.
AC13
Identify the Target Market to which the board
member is accountable.
Select all that apply
[A list of the Applicant’s Target
Markets will be auto-populated
based on information entered in
TM01.]
Questions AC14-AC18 will be asked only of board members identified as accountable to a Pre-qualified
Investment Area
Means of Accountability – Pre-qualified Investment Area
AC14
What means of accountability does the board
member use to demonstrate that they are
currently connected to a Pre-qualified Investment
Area?
Select all that apply:
- Resides in a qualified
census tract.
- Small business owner of a
business located in a
qualified census tract(s).
- An elected official serving
qualified census tracts.
- Executive staff member of
a mission-driven
organization that primarily
provides services to
residents of qualified
census tracts.
AC15
If the board member is listed as accountable as a
resident of a qualified census tract, provide the
Enter FIPs code.
91
Section
Question or Purpose of data field
Response
FIPS
23
code for the census tract in which the board
member resides.
AC16
If the board member is listed as accountable as the owner of a small business that is
located in a qualified census tract:
AC16.1
What percentage of ownership does
the board member have in the
business?
Enter percentage.
AC16.2
What is the name of the business
owned by the board member?
Enter name.
AC16.3
Does the business have multiple
locations (e.g., a franchise)?
Yes or No.
If Yes:
AC16.3a
Are at least 51% of the
businesses located in a
qualified census tract?
Yes or No.
AC16.3b
What are the FIPs codes of
the business locations?
Enter the business FIPs code.
Enter the FIPs code for each
business location.
If No:
AC16.3c
Is the business located in a
qualified census tract?
Yes or No.
AC16.3d
What is the FIPs code of
the business location?
Enter the business FIPs code.
AC16.4
If the small business is not located in a
qualified census tract, the Applicant
must demonstrate that the business
principally employs residents of
qualified census tracts.
Provide narrative.
AC17
If the board member is listed as accountable as an elected official serving qualified
census tracts:
AC17.1
Provide the total number of census
tracts under the elected official’s
jurisdiction.
Enter number.
AC17.2
Provide the total number of qualified
census tracts under the elected
official’s jurisdiction.
Enter number.
AC17.3
Percentage of qualified census tracts
under the elected official’s
jurisdiction.
Percentage of qualified census tracts
must be greater than 50% for the
Auto calculated.
23
The Federal Information Processing Standards (FIPS) code uniquely identifies states and counties and county
equivalents and census tracts in the United States, certain U.S. possessions, and certain freely associated states.
92
Section
Question or Purpose of data field
Response
board member to be considered
accountable.
AC18
If the board member is listed as accountable as an executive staff member of a third
party, mission-driven organization that primarily provides services to residents of
qualified census tracts:
AC18.1
Provide the name of the third party
organization.
Enter name.
AC18.2
Provide the mission statement of the
organization.
Enter mission statement.
AC18.3
Identify, in terms of county(ies) or
state(s), the geography of the market
served by the organization.
Enter market.
AC18.4
Provide the employee’s job title.
Enter job title.
AC18.5
Describe how the board member’s
employment allows them to connect
to qualified census tracts.
Provide description.
Questions AC19-AC23 will be asked only for board members identified as accountable to a Customized
Investment Area
Means of Accountability – Customized Investment Area
AC19
What means of accountability does the board
member use to demonstrate that they are
currently connected to the customized
Investment Area?
Select all that apply:
- Resides in a qualified
census tract of the
customized Investment
Area.
- Small business owner
where the business is
located in a qualified
census tract(s).
- An elected official serving
the customized Investment
Area.
- Executive staff member of
a mission-driven
organization that primarily
provides services to
residents of the customized
Investment Area.
AC20
If the board member is listed as accountable as a
resident of a qualified census tract of the
customized Investment Area, provide the FIPS
code for the census tract in which the board
member resides.
Enter FIPs code.
AC21
If the board member is listed as accountable as the owner of a small business that is
located in a qualified census tract of the customized Investment Area:
93
Section
Question or Purpose of data field
Response
AC21.1
What percentage of ownership does
the board member have in the
business?
Enter percentage.
AC21.2
What is the name of the business
owned by the board member?
Enter name.
AC21.3
Does the business have multiple
locations (e.g., a franchise)?
Yes or No.
If Yes:
AC21.3a
Are at least 51% of the
businesses located in a
qualified census tract of
the customized
Investment Area?
Yes or No.
AC21.3b
What are the FIPs codes
of the business
locations?
Enter the business FIPs code.
Enter the FIPs code for each
business location.
If No:
AC21.3c
Is the business located in
a qualified census tract of
the customized
Investment Area?
Yes or No.
AC21.3d
What is the FIPs code of
the business location?
Enter FIPs code.
AC21.4
If the small business is located in the
customized Investment Area but not
in a qualified census tract, the
Applicant must demonstrate that the
business principally employs
residents of the Investment Area.
Provide narrative.
AC22
If the board member is listed as accountable as an elected official serving the
customized Investment Area:
AC22.1
Provide the total number of census
tracts under the elected official’s
jurisdiction.
Enter number.
AC22.2
Provide the total number of qualified
census tracts under the elected
official’s jurisdiction.
Enter number.
AC22.3
Percentage of qualified census tracts
under the elected official’s
jurisdiction.
Percentage of qualified census tracts
must be greater than 50% for the
board member to be considered
accountable.
Auto calculated
94
Section
Question or Purpose of data field
Response
AC23
If the board member is listed as accountable as an executive staff member of a third
party, mission-driven organization that primarily provides services to residents of the
customized Investment Area:
AC23.1
Provide the name of the third party
organization.
Enter name.
AC23.2
Provide the mission statement of the
organization.
Enter mission statement.
AC23.3
Identify, in terms of county(ies) or
state(s), the geography of the market
served by the organization.
Enter market.
AC23.4
Provide the employee’s job title.
Enter job title.
AC23.5
Describe how the board member’s
employment allows them to be
connected to the customized
Investment Area.
Provide narrative.
Questions AC24-AC26 will be asked only for board members identified as accountable to a Low-Income
Targeted Population
Means of Accountability – Low-Income Targeted Population
AC24
What means of accountability does the board
member use to demonstrate that they are
currently connected to a Low-Income Targeted
Population?
Select all that apply:
- Low-Income individual
- Executive staff member of
a mission-driven
organization that primarily
provides services to Low-
Income people
AC25
If the board member is listed as accountable to
the Low-Income Targeted Population as a Low-
Income person, has the Applicant verified the
board member’s income?
Yes or No or N/A.
AC26
If the board member is listed as accountable as
an executive staff member of a third party,
mission-driven organization that primarily
provides services to Low-Income people:
AC26.1
Provide the name of the third party
organization.
Enter name.
AC26.2
Provide the mission statement of the
organization.
Enter mission statement.
AC26.3
Provide the employee’s job title.
Enter job title.
AC26.4
Describe how the board member’s
employment allows them to be
connected to qualified census tracts.
Provide narrative.
Questions AC27-AC31 will be asked only for board members identified as accountable to an Other
Targeted Population
Means of Accountability – Other Targeted Population
AC27
Other Targeted Population
Select all that apply:
95
Section
Question or Purpose of data field
Response
What means of accountability does the board
member use to demonstrate that they are
currently connected to the Other Targeted
Population?
- Member of the Other
Targeted Population.
- Executive staff member of
a Certified CDFI (OTP-CDFI
only).
- Executive staff member of
a mission-driven
organization that primarily
provides services to the
Other Targeted Population
(OTP – Persons with
Disability only).
- Family member of a person
with disability (OTP –
Persons with Disability
only).
AC28
If the board member is listed as accountable as a
member of the Other Targeted Population,
identify the assessment methodology used to
confirm. (See guidance for acceptable means of
assessment by OTP.)
Identify each method used if the board member
is listed as accountable to more than one Other
Targeted Population.
Select all that apply:
- OTP-AA.1: Self Report.
- OTP-AA.2: Visual & ID.
- OTP-Hisp.1: Self Report.
- OTP-Hisp.2: Visual & ID.
- OTP-Hisp.3: Surname.
- OTP-Native American.1:
Tribal Document.
- OTP-Native Alaskan.1:
Tribal Document.
- OTP-Native Hawaiian.1:
Registry Card.
- OTP-Pacific Islander.1: Self
Report.
- OTP-Pacific Islander.2:
Visual & ID.
- OTP-PWD.1: Self Report.
- OTP-PWD.2: Visual & ID.
- OTP-PWD.3: Technology/
Accessibility.
- OTP-Certified CDFI.1:
Certified CDFI.
- Separately approved
assessment methodology.
If “Separately approved assessment
methodology:”
AC28.1
Identify the assessment
methodology(ies) approved by
the CDFI Fund.
Narrative.
96
Section
Question or Purpose of data field
Response
AC28.2
Attach a letter(s) from the CDFI
Fund approving the assessment
methodology(ies).
Attachment(s).
AC29
If the board member is listed as accountable to the Other Targeted Population – CDFI:
AC29.1
Provide the name of the Certified
CDFI.
Enter name.
AC29.2
Provide the employee’s job title.
Enter job title.
AC30
If the board member is listed as accountable as an executive staff member of a third-
party, mission-driven organization that primarily serves persons with disabilities:
AC30.1
Provide the name of the
organization.
Enter name.
AC30.2
Provide the mission statement of the
organization.
Enter mission statement.
AC30.3
Provide the employee’s job title.
Enter job title.
AC30.4
Describe how the board member’s
employment allows him/her to be
connected to Persons with Disability.
Provide description.
AC31
If the board member is listed as accountable as a
family member
24
of a person with disability,
identify the relationship of the board member to
the person with disability.
Select all that apply:
- Spouse
- Parent.
- Child.
- Sibling.
- Aunt or Uncle.
- Grandparent.
- Stepparent.
- Stepchild.
- Stepsibling.
- In-law parent.
- In-law sibling.
Repeat board member data entry for each board member.
Repeat board and board member data entry for each board if multiple boards are being used to
demonstrate accountability.
If there are multiple entities that must demonstrate accountability to the Applicant’s proposed
Target Market, repeat board and all board member data entry for each such entity.
24
Family members include those related by blood or adoption, as well as half-siblings.
97
NON-GOVERNMENTAL ENTITY
To be a Certified CDFI, the Applicant may not be an agency or instrumentality of the United States, or of
any State or political subdivision therein. An entity that is created by, or formed in partnership with a
government or government Controlled entity, or receives substantial assistance from a government
entity may be a CDFI, provided it is not Controlled by such entities and maintains independent decision-
making authority over its activities.
A CDFI that is operated or Controlled by a Tribal Government is eligible to apply for Certification. Indian
tribes are not agencies or instrumentalities of the U.S. or any state.
Transition Away from Government Control
If an Applicant was previously Controlled by a government or government-Controlled entity, it can
demonstrate that it is no longer controlled by a government entity if its governance, organizing
documents and board’s activities demonstrate that the following conditions have been met for at least
one year from the date of the change.
- No government or government-Controlled entity has a Controlling ownership interest in the
Applicant by being one of its owners, members or partners or, if the Applicant issues stock, by
owning or having the power to vote 25% or more of the voting stock shares.
- No government or government-Controlled entity and no officials or employees of any such
entity have the authority to occupy or select who will occupy either the majority or a substantial
minority of the Applicant’s governing leadership positions (e.g., governing/managing board
members, managing member, managing partner, etc.).
- The Applicant’s governing leadership has not consisted of a majority or substantial minority of
officials or employees of a particular government or government-Controlled entity.
Section
Question or purpose of data field
Response
NGE01
Do one or more government entities or officials
Control the election or appointment of a majority
of the members of the Applicant's governing board
or Control a substantial minority of such members?
Yes or No.
NGE01.1
If yes, explain how this circumstance is
not evidence of government Control.
Provide narrative.
NGE02
Does a government or government-Controlled
entity have a Controlling ownership interest in the
Applicant as one of its owners, members, or
partners or, if the Applicant issues stock, by owning
or having the power to vote 25% or more of the
voting stock shares?
Yes or No.
NGE02.1
If yes, explain how this circumstance is
not evidence of government Control.
Provide explanation.
98
Section
Question or purpose of data field
Response
NGE03
Does the Applicant’s governing board contain
members that are government officials (elected,
appointed, employees, etc.)?
Yes or No.
If Yes:
NGE03.1
Identify the governing board members
that are government officials including
the relevant government entity and
the board member’s role with that
entity.
Select all that apply
[Auto-populated list of board
members entered in
Accountability section.]
NGE03.2
Does a majority or substantial
minority of the Applicant’s board of
directors consist of government
officials (elected, appointed,
employees, etc.)?
Yes or No.
NGE03.2a
If yes, explain how this
circumstance is not
evidence of government
Control.
Provide explanation.
NGE03.3
Does the Applicant’s
organizing/establishing documents or
by-laws require that a certain number
of the Applicant’s governing board be
government employees or
elected/appointed government
officials?
Yes or No.
NGE03.3a
If yes, explain how this
circumstance does not
constitute government
Control.
Provide explanation.
NGE04
Does one or more government entities have veto
power over the selection of the Applicant’s
executive director, CEO, or comparable officer, or
over specific investment decisions?
Yes or No.
NGE04.1
If yes, explain how this circumstance
does not constitute government
Control.
Provide explanation.
NGE05
Does any government entity provide more than
50% of the Applicant’s operating and/or capital
budget?
Yes or No.
If Yes:
NGE05.1
Explain how this circumstance does
not constitute government Control.
Provide explanation.
99
Section
Question or purpose of data field
Response
NGE05.2
Does that government entity have the
ability to control the use of those
funds?
Yes or No.
NGE05.3
Attach a copy of the contract or grant
agreement(s) for any government
entity that provides operating and/or
capital funds to the Applicant.
Attachment(s).
NGE05.4
Provide the page number of the
document that provides confirmation.
Enter page number(s).
NGE06
Does any government entity manage any aspect of
the Applicant’s operations?
Yes or No.
NGE06.1
If yes, explain how this circumstance
does not constitute government
Control.
Provide explanation.
NGE07
Are any of the employees of the Applicant
government employees or employees of an
organization Controlled by one or more
government entities?
Yes or No.
NGE07.1
If yes, explain how this circumstance
does not constitute government
Control.
Provide.
NGE08
If the Applicant is Controlled by another entity, is
that entity Controlled by one or more government
entities?
Yes or No.
NGE08.1
If yes, explain how this circumstance
does not constitute government
Control of the Applicant.
Provide explanation.
NGE09
Does 50% or more of the Applicant’s funding to
support programs or activities developed by that
government entity and implemented by the
Applicant on behalf of that government entity
come from a single government entity?
Yes or No.
If Yes:
NGE09.1
Explain how this funding does not
constitute government Control.
Provide explanation.
NGE09.2
Attach a copy of contract(s).
Attachment(s).
NGE09.3
Provide the page number of the
document that provides confirmation
Enter page number(s).
100
NATIVE CDFI DESIGNATION
To receive the Native CDFI designation, an entity must:
- meet all other CDFI Certification requirements;
- primarily serve Native Communities, as evidenced by at least 50% of its Financial Product activity
(both number and dollar volume) having been directed to one or more Native Communities
during the Applicant’s most recently completed full fiscal year prior to the submission of the
CDFI Certification Application;
25
and
- demonstrate accountability to a Native Community through at least one of the following
options:
Option 1: Governing Board Only
At least 33% of the governing board are accountable to a Native Community population
or Native Community geography; and
At least 50% of such representative board members are members of a Native
Community population(s).
Option 2: Advisory Board and Governing Board
At least 60% of an Advisory Board are accountable to a Native Community population or
Native Community geography;
At least 50% of such representative board members are members of a Native
Community population(s);
At least 20% of the governing board members are accountable to a Native Community
population or Native Community geography;
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
Option 3: Credit Union Membership Supplemented by Advisory Board (credit union Applicant
only)
At least 33% of a credit union’s members are determined to be either members of a
Native Community population or residents of a Native Community geography, using a
CDFI Fund-approved Target Market assessment methodology;
At least 60% of the Advisory Board are accountable to a Native Community population
or Native Community geography;
At least 50% of such representative board members are members of a Native
Community population(s);
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
25
To maintain the designation status, Native CDFIs must demonstrate compliance with the Native financing activity
percentage benchmarks based on a three-year average through the last day of its most recently completed fiscal
year. Certified CDFIs, with less than three years of Native CDFI designation or reported data in the TLR, will be
evaluated based upon the full history of their reported financing activity, up to three full fiscal years, but not
earlier than one full fiscal year prior to the designation.
101
Option 4: Advisory Board Only (DIHC and IDI Applicants and Applicants without a formal
governing board only)
At least 80% of the Advisory Board are accountable to a Native Community population
or Native Community geography;
At least 50% of such representative board members are members of a Native
Community population(s);
At least one governing board member or partner/owner of the Applicant entity has a
seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.
* Native Communities include the following populations: Native American/American Indian with
maintained tribal affiliation or community attachment, Native Alaskan residing in Alaska with
maintained tribal affiliation or community attachment, and Native Hawaiian residing in Hawaii; and the
following geographies: Native American areas defined as Federally-designated reservations, Hawaiian
homelands, Alaska Native Villages and/or U.S. Census Bureau designated Tribal Statistical Areas.
Individual accountability to a Native Community may be demonstrated through any of the following
means:
Membership in a Native Community population
Residence in a Native Community geography
Status as a small business owner, where the business is located in a Native Community
geography
Status as an elected Tribal Government official serving the Native Community
Status as an executive staff member of a mission-driven organization that primarily provides
services to residents of the Native Community
Note: the statutorily required collective review process for DIHCs, affiliates of DIHCs, and Subsidiaries of
IDIs, required for the general CDFI Certification, does not apply to the Native CDFI designation. However,
DIHCs that do not directly provide Financial Products or Financial Services may rely on the activity of an
Affiliate to meet the Native CDFI designation requirement.
NATIVE CDFI DESIGNATION – GENERAL
Section
Question or purpose of data field
Response
NA01
Does the Applicant want to be designated as a
Native CDFI?
Yes or No.
[If no, no further questions in
this section.]
NA02
If the Applicant provided Financial Products and/or
depository accounts to any Native Community(ies)
during the immediate 12 full months completed
prior to submission of the CDFI Certification
Application, identify the Native Community(ies) that
Select all that apply:
- Native American.
- Native Alaskan.
- Native Hawaiian.
102
Section
Question or purpose of data field
Response
received the Financial Products and/or the
depository accounts.
- Native American areas
defined as Federally-
designated
reservation(s).
- Hawaiian homeland(s).
- Alaska Native Village(s).
- U.S. Census Bureau
designated Tribal
Statistical Area(s).
NATIVE CDFI DESIGNATION – ACTIVITY DIRECTED TO NATIVE COMMUNITIES
Applicant and relevant Affiliate(s) data presented by Financial Product category will be collected in the
TLR. The data must include all Financial Product transactions, by number and dollar, that were closed
during the Applicant’s most recently completed fiscal year. Transactions provided to Native
Communities must be identified in the TLR in order to count towards the 50% requirement for Native
Designation.
(Simulated Table – actual display in AMIS may differ)
Native CDFI Designation Table 1: Native Financing Test
Percent of Native
Community Financial
Products – Number
Native Community
threshold met?
Percent of Native
Community Financial
Products – Dollar
Volume
Native Community
threshold met?
[Auto calculated]
[Auto display – Yes or
No]
[Auto calculated]
[Auto display – Yes or
No]
Section
Question or purpose of data field
Response
NA-NC01
Is the Applicant a DIHC that is relying on its Affiliates
to meet the CDFI Certification Financing Entity or
Target Market requirements?
Yes or No.
NA-NC01.1
If yes, identify all Affiliate(s) that are
required to be presented for review in
connection with the CDFI Certification
collective review.
Identify the relevant
Affiliate(s).
NA-NC02
Native Communities assessment methodology
attestation – Financial Products:
Applicant attests that Financial Product transactions
counted have and will continue to be directed to
Native Communities using the assessment
methodology(ies) that was pre-approved by the CDFI
Fund.
Yes or No.
103
Section
Question or purpose of data field
Response
NA-NC03
Identify the assessment methodology(ies) used by the
Applicant.
Select all that apply.
- OTP-Native American.1:
Tribal Doc
- OTP-Native Alaskan.1:
Tribal Doc
- OTP-Native Hawaiian.1:
Registry Card
- Separately approved
assessment
methodology
If “Separately approved assessment methodology:”
NA-NC03.1
Identify the assessment
methodology(ies) approved by the CDFI
Fund.
Provide narrative.
NA-NC03.2
Attach a letter(s) from the CDFI Fund
approving the assessment
methodology(ies).
Attachment(s).
NATIVE CDFI DESIGNATION – NATIVE COMMUNITY ACCOUNTABILITY
Section
Question or purpose of data field
Response
NA-CA01
What type of board is being used to maintain the
Applicant’s Native Community accountability?
Select one:
- Governing board
- Governing and
Advisory Boards
- Credit union
membership and
Advisory Board
(credit union only)
- Advisory Board only
(DIHCs, IDIs, and
those with no formal
governing board only)
NA-CA02
If the Applicant will use its governing board to maintain
its Native Community accountability, identify that board.
Enter Board Name.
NA-CA03
If the Applicant will use credit union membership and an
Advisory Board to maintain Native Community
accountability:
NA-CA03.1
Total number of credit union members
active with the Applicant as of the last day
Enter number.
104
Section
Question or purpose of data field
Response
of the last month of the immediate 12 full
months completed prior to submission of
the Application.
NA-CA03.2
Identify the Native Community that will be
used to demonstrate Native Community
accountability through credit union
membership.
Select one:
- Native Community
Geography
Investment Area –
Pre-qualified
- Other Targeted
Population – Native
American
- Other Targeted
Population – Native
Alaskan residing in
Alaska
- Other Targeted
Population – Native
Hawaiian residing in
Hawaii
NA-CA03.3
What is the total number of credit union
members who are members of this Native
Community?
Enter the total number of
credit union members who
are members of the Native
Community.
NA-CA03.4
Calculate percentage of credit union
members who are members of this Native
Community.
[May auto-calculate]
Enter percentage of credit
union members who are
members of the Native
Community.
NA-CA03.5
Applicant attests that only a CDFI Fund-
approved Target Market assessment
methodology(ies) has been and will
continue to be used to determine whether
credit union members are of a Native
Community.
Yes or No.
NA-CA04
If the Applicant will use an Advisory Board to maintain its
Native Community accountability, identify that Advisory
Board.
Enter board name.
NA-CA04.1
Does the Applicant have an organizational
accountability policy that has been board
approved?
Yes or No.
If No, the Applicant is unable
to use an Advisory Board.
If Yes:
105
Section
Question or purpose of data field
Response
NA-CA04.1a
Does the policy describe
the role of the Advisory
Board?
Yes or No.
NA-CA04.1b
Does the policy detail how
the Advisory Board informs
itself about the Native
Community?
Yes or No.
NA-CA04.1c
Does the policy describe
the Advisory Board method
for providing advice to the
governing board?
Yes or No.
NA-CA04.1d
Attach the board approved
organizational
accountability policy.
Attach.
NA-CA04.2
Does the board meet at least three (3)
times a year?
The CDFI Fund requires that the Advisory
Board meet at least three (3) times a year.
Yes or No.
If No, the Applicant is not
eligible for Certification.
NA-CA04.3
Basis upon which members of the Advisory
Board selected?
Select one or more:
- For ability to solicit
feedback from the
Native Community
- For knowledge of the
needs and condition
of the Native
Community
- For knowledge of
Financial Products
and/or Financial
Services
- For knowledge of
strategic planning
and/or policies and
procedures for
financial institutions
- Other
NA-CA04.3a
If “Other,” describe the
other basis upon which
Advisory Board members
are selected.
Narrative.
NA-CA04.4
How do Advisory Board members obtain
their input from the Native Community?
Selection one or more:
- Direct involvement
with the Native
Community.
- Focus groups.
106
Section
Question or purpose of data field
Response
- Participation in
community meetings.
- Survey.
- Review of research
reports.
- Other.
NA-CA04.4a
If “Other,” describe the
other way in which the
Advisory Board member
obtain input from the
Native Community.
Narrative.
NA-CA04.5
On what activities/policies does the
Advisory Board provide input to the
governing leadership?
Select one or more:
- Loan
Product/Financial
Services development
- Organizational Policy
development
- Strategic planning
- Marketing strategies
- Development Services
- Other
NA-CA04.5a
If “Other,” describe the
other activities/policies on
which the Advisory Board
provides input to the
governing leadership.
Narrative.
Applicants will enter all relevant board member data in questions NA-CA05 – NA-CA11 for each
board and for each representative board member accountable to a Native Community.
NA-CA05
Total number of board members.
Enter number.
NA-CA06
Representative Board member name.
Enter name.
NA-CA07
If the Applicant is using an advisory board to meet the
Native Community accountability test, does this member
of the advisory board also serve on the Applicant’s
governing board or is the member also a partner/owner?
Yes or No.
NA-CA08
Is this board member or any member of their family an
employee of the Applicant or any of its Affiliates?
Yes or No.
If Yes, no further information
on this board member is
required, as this board
member is ineligible to be
presented as accountable.
NA-CA09
Does the board member or any member of their family,
individually or in combination, own or control 25% or
more of the Applicant or any of its Affiliates?
Yes or No.
If Yes, no further information
on this board member is
107
Section
Question or purpose of data field
Response
required, as this board
member is ineligible to be
presented as accountable.
NA-CA10
Does the board member have an active Financial Product
from the Applicant?
Yes or No.
If Yes, no further information
on this board member is
required, as this board
member is ineligible to be
presented as accountable.
NA-CA11
Identify the Native Community type to which the board
member is accountable.
Select at least one.
- Native Community
Geography
- Native Community
Population
Means of Accountability – Native Community Geography
Questions NA-CA12 – NA-CA16 will be asked only for board members identified as accountable to a
Native Community Geography
NA-CA12
Identify the means of accountability the board member
uses to demonstrate that they are currently connected to
a Native Community geography?
Select all that apply:
- Resides in a Native
Community
geography
- Small business owner
where the business is
located in a qualified
census tract of a
Native Community
geography
- Elected Tribal
Government official
serving the Native
Community
- Executive staff
member of a mission-
driven organization
that primarily
provides services to
residents of a Native
Community
geography
NA-CA13
If the board member is a resident of a qualified census
tract of a Native Community geography, provide the FIPS
code for the census tract within which they reside.
Enter FIPs code.
108
Section
Question or purpose of data field
Response
NA-CA14
If the board member is the owner of a small business that is located in a Native
Community geography:
NA-CA14.1
What percentage of ownership does the
board member have in the business?
Enter Percentage.
NA-CA14.2
What is the name of the business owned
by the board member?
Enter Name.
NA-CA14.3
Is the business located in a Native
Community geography?
Yes or No
NA-CA14.4
What is the business address and FIPs code
of the business location?
Enter FIPs code.
Does the business have multiple locations (e.g., a
franchise)?
Yes or No.
If Yes:
NA-CA14.4a
Are at least 51% of the
businesses located in a
qualified Native Community
census tract?
Yes or No.
NA-CA14.4b
What are the FIPs codes of
the business locations?
Enter the business FIPs code.
Enter the FIPs code for each
business location.
If No:
NA-CA14.4c
Is the business located in a
Native Community qualified
census tract?
Yes or No.
NA-CA14.4d
What is the FIPs code of the
business location?
Enter the business FIPs code.
NA-CA15
If the board member is an elected Tribal Government official serving the Native
Community geography:
NA-CA15.1
Provide the total number of tracts under
the elected official’s jurisdiction.
Enter number.
NA-CA15.2
Provide the total number of Native
Community census tracts under the
elected official’s jurisdiction.
Enter number.
NA-CA15.3
Percentage of qualified Native Community
census tracts under the elected official’s
jurisdiction.
Percentage of qualified census tracts must
be greater than 50% for the board member
to be considered accountable.
[May auto-calculate].
NA-CA16
If the board member is accountable to a Native Community geography as an executive
staff member of a third party, mission-driven organization that primarily provides services
to residents of the Native Community geography:
NA-CA16.1
Provide the name of the third party
organization.
Enter Name.
109
Section
Question or purpose of data field
Response
NA-CA16.2
Provide the mission statement of the
organization.
Enter mission statement.
NA-CA16.3
Identify, in terms of county(ies) or state(s),
the Native Community geography of the
market served by the organization.
Enter market.
NA-CA16.4
Provide the employee’s job title.
Enter job title
NA-CA16.5
Describe how the board member’s
employment allows them to be connected
to the Native Community geography that
consists of Native census tracts.
Provide description.
Means of Accountability – Native Community Population
Questions NA-CA17 – NA-CA18 will be asked only for board members identified as accountable to a
Native Community Population
NA-CA17
Is the board member a member of a Native Community
Population?
Yes or No.
NA-CA18
If the board member is a member of a Native Community
Population, identify the assessment methodology used
to confirm. (See guidance for acceptable means of
assessment by OTP.)
Identify each method used if the board member is listed
as accountable to more than one Other Targeted
Population.
Select all that apply:
- OTP-Native American.1:
Tribal Document
- OTP-Native Alaskan.1:
Tribal Document
- OTP-Native Hawaiian.1:
Registry Card
Repeat board member data entry for each board member.
Repeat board and board member data entry for each board if multiple boards are being used to
demonstrate accountability.
