CDFI Certification Application

APPLICATION INSTRUCTIONS

OFFICE OF CERTI FICATI ON POLICY

AND EVALUATI ON

CDFI

CERTIFICATION

PLICATION

RELEASED DECEMBER 2023

Contents

CERTIFICATION APPLICATION OVERVIEW ..................................................................................................... 2

KEY TERMS ..................................................................................................................................................... 3

ADDITIONAL CDFI CERTIFICATION REQUIREMENTS AND PROVISIONS BY ENTITY TYPE .............................. 6

APPLICATION PROCESS ................................................................................................................................ 13

OBTAINING DETERMINATION OF RESPONSIBLE FINANCING PRACTICES, SIMILAR FINANCIAL PRODUCTS,

SIMILAR FINANCIAL SERVICES, DISREGARDED OR INCLUDED MAJOR ASSETS/STAFF TIME, TARGETED

POPULATIONS, AND TARGET MARKET ASSESSMENT METHODOLOGIES .................................................... 17

APPLICANT BASIC INFORMATION ................................................................................................................ 21

LEGAL ENTITY ............................................................................................................................................... 36

PRIMARY MISSION ....................................................................................................................................... 37

FINANCING ENTITY ...................................................................................................................................... 63

TARGET MARKET .......................................................................................................................................... 79

DEVELOPMENT SERVICES ............................................................................................................................ 92

ACCOUNTABILITY ......................................................................................................................................... 97

NON-GOVERNMENT ENTITY ...................................................................................................................... 115

NATIVE AMERICAN CDFI DESIGNATION .................................................................................................... 118

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 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. The questions in this Application are based on existing laws, regulations, and CDFI

Fund Policy.

To be certified as a CDFI, an entity must meet all of the following criteria:

- 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,

on-balance

sheet

Financial Products,

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-government

entity.

Activities that support the provision of Financial Products and/or Financial Services.

In some cases, the Applicant, as well as its Affiliates, may be subject to some or all of the listed criteria.

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 or Development Services that are not arm’s-

length, as long as 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 are in a form and substance

acceptable to the CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(iii)). Depository Institution Holding Companies (DIHCs) that do not

engage in their own direct Financial Product or Financial Services activity can rely on the activity of entities subject to the CDFI

Certification collective review process to meet the CDFI Certification requirements.

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.

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.

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 United States or any state.

KEY TERMS

All capitalized terms in this Application are defined herein, in 12 CFR Part 1805, or in 12 U.S.C. 4701 et

seq.

KEY TERMS 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.

Spin-off: An entity that (1) has received a transferred (not purchased) Financial Product portfolio from

one or more separate entity(ies) that was an Affiliate at the time the transfer took place and for which

the portfolio consists of arm’s-length Financial Product transactions closed by the Affiliate; and (2) will

continue Financial Product activity of the same type as the Affiliate.

KEY TERMS 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: any of the 50 U.S. states, the District of Columbia, or territory of the United States (Puerto Rico,

Guam, American Samoa, the U.S. Virgin Islands, and Northern Mariana Islands).

ELIGIBLE FINANCIAL PRODUCTS

The CDFI Fund currently recognizes the following types of Financial Products, and terms, for CDFI

Certification purposes:

- arm’s-length transaction: a transaction between independent, unrelated parties, each acting in its

own best interest;

- loans: a type of debt in which a lender transfers funds to a borrower with the expectation of

repayment over time;

- Equity Investments: an arm’s-length Investment with a third party such as a stock purchase, a

purchase of partnership interest, a purchase of a limited liability company membership interest, a

loan made on such terms that it has sufficient characteristics of equity, a purchase of secondary

capital;

- loan guarantees: in general, a promise by a party to assume a debt obligation of a borrower if the

borrower defaults;

- forgivable loans: a type of loan in which the principle and interest can be entirely or partially

forgiven or deferred for a period of time by the lender when certain conditions are met. Such loans

are eligible for purposes of CDFI Certification only if they require at least one payment within 12

months of the loan closing date (excluding payment of fees associated with the loan closing);

- on-balance sheet: items that are recorded on an entity’s non-consolidated balance sheet;

- loan purchase: (1) Purchase of loans originated by Certified CDFIs; (2) Purchase of loans originated

by entities that do not have the CDFI Certification but were made to members of the Applicant’s

Target Market;

- credit cards: a payment mechanism that facilitates both consumer and commercial business

transactions, including purchases and cash advances where the borrower is required to pay at least

part of the card’s outstanding balance each billing cycle, depending on the terms as set forth in the

cardholder agreement;

- lines of credit: an arrangement between the creditor and a customer that establishes the maximum

loan amount the customer can borrow; and

- debt with equity features: a loan agreement that stipulates that the loan may be converted to

equity upon meeting specified conditions.

Unless otherwise indicated, to be recognized as a Financial Product, the related transaction(s) must be

arm’s-length and on-balance sheet. Even though they no longer appear on-balance sheet, Financial Product

transactions originated during the reporting fiscal year that may have been sold or paid off prior to the last

day of the reporting fiscal year should still be included in the Financial Product activity data.

To be certified as a CDFI, an Applicant’s Financial Products must comply with any applicable standards for

responsible financing practices described in the Primary Mission section of this application.

For any financing activity not clearly identified above, an Applicant must submit a request to the CDFI Fund

for specific recognition as an eligible Financial Product. If the Applicant is uncertain whether the product it

offers aligns with the Financial Product type(s) shown above, the Applicant should obtain clarification. To

obtain clarification, the Applicant must submit a Service Request in the CDFI Fund’s Awards Management

Information System (AMIS) prior to submitting the CDFI Certification Application.

ELIGIBLE FINANCIAL SERVICES

The CDFI Fund currently recognizes the following types of Financial Services for CDFI Certification purposes:

- consumer checking accounts;

- consumer savings and share accounts;

- check cashing;

- money orders;

- certified checks;

- automated teller machines;

- money market accounts; and

- safe deposit box services.

Any similar services not listed above must be specifically 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 meeting the CDFI

Certification requirements, except in connection with the Target Market test and the Development Services

test, for which only the direct holding of consumer depository accounts will be accepted as an eligible

Financial Service. Depository accounts are savings/share accounts, checking accounts, and money market

accounts.

ADDITIONAL CDFI CERTIFICATION REQUIREMENTS AND PROVISIONS BY

ENTITY 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 DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, it must

meet the CDFI Certification requirements based on a review of its compliance with those requirements

on its own, as well as a collective review of the following relevant Affiliates (even if all such Affiliates are

not seeking to obtain or maintain CDFI Certification):

- 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.

For the purposes of the CDFI Certification collective review,

- any entity subject to the CDFI Certification collective review process must have a current

governing leadership

-approved primary mission of community development;

- if the entity seeking to obtain or maintain the CDFI Certification is a DIHC that does not engage

in its own Financial Product activity, in addition to having an acceptable current primary mission

of community development—and any other entity subject to the CDFI Certification collective

review process that engages in Financial Product activity—must also have a governing board-

approved primary mission of community development in place for at least the most recent six

full months prior to Application submission (can be via a series of acceptable missions);

- any Financial Product or Financial Services activity engaged in by an entity subject to the CDFI

Certification collective review process must be included along with that of the Applicant and any

other relevant Affiliate in the aggregated Financial Product and, if elected, Financial Services

activity used for the collective assessment of compliance with the Target Market requirements

of the primary entity under review; and

- any entity subject to the CDFI Certification collective review process must be able to

demonstrate its accountability to the CDFI Certification Target Market of the primary entity

under review via its own governing or formal advisory board(s) or, if it does not engage in its

“Governing leadership” includes governing/managing board members, managing member, managing partner, or

similar.

own Financial Product activity, via the accountability of an entity that Controls it, even if it has

not adopted the board(s) used as a means of accountability by the Controlling entity as its own

board(s).

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 entities subject to the collective

review process, 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 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 United States or any State. An entity’s affiliation with a tribal

government will not affect its ability to meet the non-government entity criteria.

A CDFI Certification Applicant and/or entities subject to the collective review process that are Controlled

by a tribal government will need to demonstrate that they meet the primary mission requirements; the

tribal government is not required to meet primary mission requirements.

DEPOSITORY INSTITUTION HOLDING COMPANIES, INSURED DEPOSITORY INSTITUTIONS, 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 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.

ENTITIES APPLYING FOR CERTIFICATION SOLELY FOR PARTICIPATION AS ELIGIBLE CDFIs IN THE CDFI

BOND GUARANTEE PROGRAM (BG PROGRAM) – FINANCING ENTITY AND ARM’S-LENGTH

TRANSACTION REQUIREMENTS

Entities applying for Certification solely to participate as Eligible CDFIs in the CDFI 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 BG Program Application round

(see 12 CFR 1805.201(b)(2)(C)(ii)).

- must be Controlled by a Certified CDFI and meet CDFI Certification requirements using on-

balance sheet Financial Products, Financial Services, and Development Services activity that is

not arm’s-length, provided that the activity is directed to their 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)).

Entities Certified under this provision will not be accepted as Certified for CDFI Fund assistance

programs other than the CDFI BG Program. If such an entity seeks access to other CDFI Fund assistance

programs, it must apply for CDFI Certification using the standard CDFI Certification Application process

and demonstrate it meets all the mandated requirements for CDFI Certification.

SPIN-OFF ENTITIES – PRIMARY MISSION, FINANCING ENTITY, AND TARGET MARKET REQUIREMENTS

An entity spun off from one or more Certified CDFIs is not eligible for this provision.

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 Spin-off entities outlined in the Financing Entity and Target Market sections.

In addition, if an Applicant seeks to use the CDFI Certification provision for Spin-off 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 full six months immediately prior to submission of the CDFI

Certification Application.

For more detail on these above policies, please see the instructions for each relevant CDFI Certification

criterion in the CDFI Certification Application form and in the guidance materials.

OTHER CONDITIONS

OBTAINING DETERMINATIONS FOR SIMILAR FINANCIAL PRODUCTS, SIMILAR FINANCIAL SERVICES,

RESPONSIBLE FINANCING PRACTICES, DISREGARDED OR INCLUDED ASSETS/STAFF TIME, TARGETED

POPULATIONS,

AND TARGET MARKET ASSESSMENT METHODOLOGIES

The CDFI Certification Application identifies those Financial Products, Financial Services, disregarded or

included assets and staff time, Targeted Populations, and Target Market assessment methodologies

approved by the CDFI Fund for purposes of CDFI Certification, as well as the standards for responsible

financing practices. Approved Target Market assessment methodologies must be used exactly as

outlined in the CDFI Certification Application and/or other related guidance materials unless and until

modification of the method is authorized by the CDFI Fund.

If an Applicant wishes to seek consideration to include any similar Financial Products, similar Financial

Services, amended standards for responsible financing practices, the ability to disregard major assets

and/or staff time, Other Targeted Populations, or the use of alternative or modified Target Market

assessment methodologies, it must first respond to a set of questions at the start of the CDFI

Certification Application. For each request to be considered, the Applicant must provide detailed

information and/or justification for the CDFI Fund to review. The Applicant will not be able to continue

the Application process until the CDFI Fund renders a decision on the request. When a decision is made,

the Applicant may continue with the Application process and complete the Transaction Level Report and

CDFI Certification Application.

If the CDFI Fund approves new similar Financial Products, similar Financial Services, major assets and/or

staff time to be disregarded or included, Other Targeted Populations, Target Market assessment

methodologies, or amended standards for responsible financing practices, the CDFI Fund will publicly

release information related to this change and update relevant list(s) or standards, as well as any CDFI

Certification guidance materials.

Obtaining Determination to Include Similar Financial Products or Similar Financial Services

Applicants seeking consideration to include Financial Products or Financial Services not currently

recognized or previously approved by the CDFI Fund as eligible for the purposes of the Financing Entity

or Target Market tests must provide the following information for the CDFI Fund’s consideration in

advance of completing and submitting their Application:

- name of proposed similar Financial Product or similar Financial Service;

- type of proposed similar Financial Product or similar Financial Service;

- target borrower, investee, service recipient;

- description (e.g., rates, terms, conditions) and purpose of similar Financial Product or similar

Financial Service;

- any protections that ensure the similar Financial Product does not harm consumers;

- evidence that consumers are not harmed (e.g., the rate of successful repayment under the

original rates, terms, and conditions of the Financial Product); and

- any additional information necessary for the CDFI Fund to consider the request.

“Targeted Population” means individuals or an identifiable group of individuals meeting the requirements of 12

CFR § 1805.201(3).

Obtaining Determination to Amend the Standards for Responsible Financing Practices

The current standards for responsible financing practices allow for certain circumstances under which an

otherwise disqualifying practice might serve an acceptable community development purpose. For example,

Applicants that offer consumer loans that exceed an annual percentage rate (APR) of 36% may still be

determined eligible for Certification if certain conditions are met, such as a default rate no greater than 5%,

limits on fees to refinance the loan, substantially equal loan payments that amortize to a zero balance, and so

on. Similarly, certain otherwise disqualifying residential real estate mortgage loan characteristics are

allowable for the purposes of CDFI Certification if the Applicant meets additional criteria.

Applicants seeking to engage in financing activities that do not currently meet the standards for

responsible financing practices of the primary mission test may seek amendment to the standards that

allows for additional activity that serves a community development purpose. To do so, Applicants must

provide the following information for the CDFI Fund’s consideration in advance of an Application

submission:

- description of the financing activity;

- current standard that the financing activity does not meet;

- reasons the Applicant believes the financing activity serves a community development purpose;

- any protections that ensure the financing activity does not harm consumers and/or conditions

under which the financing activity should be considered an acceptable community development

activity (e.g., limits on rates charged, purpose, borrower characteristics);

- evidence that consumers are not harmed (e.g., if discussing a Financial Product characteristic,

the rate of successful repayment under the original rates, terms, and conditions of the Financial

Product); and

- any additional relevant information.

The CDFI Fund will not approve individual exceptions to the primary mission test; any amendments to the

standards for responsible financing practices will be made available to all CDFIs and future Applicants.

Obtaining Determination to Disregard or Include Major Assets and/or Staff Time to Meet Financing

Entity Predominance Requirements

Applicants that seek to disregard or include major assets and/or staff time not currently listed as eligible

to be disregarded or included for the purpose of the Financing Entity predominance test must obtain a

determination from the CDFI Fund before those assets and/or staff time may be disregarded or included

for the purpose of this test.

To request consideration to disregard or include any major assets and/or staff time, Applicants must

provide the following information for the CDFI Fund’s consideration in advance of an Application

submission:

- a description of the major asset(s) and/or staff time to be disregarded or included;

- the dollar amount for the portion of the balance sheet line item(s) to be disregarded or included

and the name of the balance sheet line item(s);

- the average full-time equivalent (FTE) staff time to be disregarded or included;

- how the amount of the asset(s) and/or staff time to be disregarded or included was determined;

- if seeking to disregard any major asset(s) and/or staff time, why such asset(s) and/or staff time

incorrectly appear to indicate that the Applicant is not predominately a financing entity;

- if seeking to include any major asset(s) and/or staff time, why the asset(s) and/or staff time is

essential for the Applicant to conduct its Financial Product and/or Financial Services activity; and

- a copy of the Applicant’s most recently completed fiscal year income statement and balance

sheet; and current fiscal year-to-date balance sheet.

Obtaining Determination for Additional Targeted Populations

Targeted Populations that are not already recognized by the CDFI Fund must be approved by the CDFI

Fund before they are included as part of an entity’s Target Market for CDFI Certification purposes. To

request a new Targeted Population, Applicants must provide the following information for the CDFI

Fund’s consideration in advance of an Application submission:

- a name and description of the Targeted Population;

- the geographic location of the Targeted Population intended to be served (e.g., national,

statewide, specific census tracts). Unless “national,” include a map generated in the CDFI

Information Mapping System (CIMS) depicting the geography to be served;

- a narrative demonstrating that the specific Targeted Population(s) has significant unmet capital

or Financial Services needs;

- whether the Applicant serves the members of the Targeted Population directly or indirectly or

through borrowers or investees that serve such members; and

- specific evidence showing the proposed Targeted Population has disparities, controlling for

poverty and income effects, in its access to Financial Products and Services for the geographic

population service area.

If seeking recognition of a new Targeted Population, Applicants also must submit a proposed Target

Market assessment methodology for the Targeted Population.

Obtaining Determination for Target Market Assessment Methodologies

A Target Market assessment methodology or combination of such methodologies must be used to verify

whether Financial Products, depository accounts, board members, and/or credit union members meet

the Target Market criteria.

Only 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 approved methodologies, including the use of programmatic proxy assessments, must provide

the following information for the CDFI Fund to consider in advance of completing their Application for

submission:

- the applicable Target Market (i.e., Investment Area, Low-Income Targeted Population, or Other

Targeted Population);

- assessment methodology (e.g., description of methodology and/or model design, including the

step-by-step process used to collect the data, review any documents, and/or run the model and

process its results);

- supporting or supplemental documentation;

- description of how the proposed assessment methodology provides sufficient confidence that a

transaction can be assigned to a specific Target Market;

- if proposing a programmatic proxy, the program’s detailed eligibility criteria or the step-by-step

process used to compare programmatic data to CDFI Fund definitions (e.g., income sources,

income thresholds);

- the process for recordkeeping; and

- the process for updating any methodology dependent on underlying data changes.

Applicants may attach documents that provide a fuller description of the proposed assessment

methodology than what is allowed by the online form’s character-length restriction on answers.

All Target Market assessment methodologies—whether from the list of approved methodologies or

allowed to present separately—must be used exactly as prescribed, unless and until modification of the

process is authorized by the CDFI Fund. Failure to use an approved assessment methodology (or

maintain required documentation) may result in the termination of a Certified CDFI’s certification.

TARGET MARKET – TRANSACTION LEVEL REPORT

Upon launching the CDFI Certification Application and responding to the “Obtaining determination”

questions, Applicants must complete and submit a Transaction Level Report (TLR). 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. If an entity is not meeting the required Target Market benchmarks, it will not be allowed to

submit a CDFI Certification Application. For additional information on the TLR, review the related CDFI

Transaction Level Report documents.

ACCOUNTABILITY REQUIREMENTS – FINANCIAL INTEREST POLICY

Governing board and advisory board members who are principals

or staff members of the Applicant or

its Subsidiaries or Affiliates, or whose family

members are principals or staff members, cannot be used

to demonstrate Target Market Accountability.

TRANSITION FROM GOVERNMENT CONTROL TO NON-GOVERNMENT 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

For the purpose of the CDFI Certification Application, all references to the Transaction Level Report include the

abbreviated TLR (for entities that are not CDFI Fund Financial Assistance [FA] award recipients with a TLR reporting

requirement) and the full-length TLR (for entities that are recipients of CDFI Fund Financial Assistance [FA] awards

with a TLR reporting requirement).

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.

“Family members” include spouses, children (including step-, in-law, and adopted children), and other members

of the board member’s family (i.e., siblings [including step-, half-, and in-law siblings], parents [including step- and

in-law parents], and grandparents related by blood or adoption).

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.

APPLICATION PROCESS

(1) Review the Certification as a Community Development Financial Institution” section and

Definitions section of the CDFI Program Revised Interim Regulations, 12 CFR Part 1805, available

on the CDFI Fund’s public website at cdfifund.gov. Note that 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) Create a System for Award Management (SAM) account to obtain a Unique Entity ID (UEI).

(4) Refer to guidance materials on how to access and use the CDFI Fund’s online portal, AMIS.

(5) Create or access an existing account for the Applicant entity in AMIS using the guidance

materials located on the CDFI Fund’s webpage.

(6) 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 in AMIS must match the

organization’s name and EIN found in SAM.

(7) 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.

(8) 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.

(9) Applicants must provide additional Basic Information for entities subject to the collective review

process in the Applicant’s account in AMIS and/or within the CDFI Certification Application.

Note: Relevant documents not written in English must be translated.

(10) Review and update information on Applicant’s Affiliates and entities subject to the collective

review process in AMIS, as needed.

(11) Review the CDFI Fund’s lists of, for the purposes of CDFI Certification, eligible Financial Products,

Financial Services, disregarded and qualified assets/staff time, Targeted Populations, and Target

Market assessment methodologies, as well as the list of ineligible financing practices. Prior to

submitting the Application, Applicants must indicate whether they are requesting an eligibility

determination for any related item it requires or would like to submit to the CDFI Fund for

purposes of CDFI Certification. If any requested similar Financial Product, similar Financial

Service, financing practice, asset/staff time, Targeted Population, or Target Market assessment

methodology is deemed ineligible by the CDFI Fund for the requested purpose, the Applicant is

prohibited from presenting that information in the CDFI Certification Application in the manner

requested. See “Obtaining Determination for Responsible Financing Practices, Similar Financial

Products, Similar Financial Services, Disregarded or Included Assets/Staff Time, Targeted

Populations, and Target Market Assessment Methodologies,” p. 17.

(12) Upload transactional data to the 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 done AFTER responding to the questions related to “Obtaining

Determination for Responsible Financing Practices, Similar Financial Products, Similar

Financial Services, Disregarded or Included Assets/Staff Time, Targeted Populations, and

Target Market Assessment Methodologies” and BEFORE beginning the full Application.

(13) If required, create a Customized Investment Area and/or Other-OTP Target Market map(s) using

the guidance materials for CIMS. 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.

(14) If required, create a map using CIMS to demonstrate accountability to certain sources of

Accountability.

(15) 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.

(16) Complete and submit the full 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.

(17) The Application cannot be reopened for modification by the Applicant after submission in AMIS.

If upon review the CDFI Fund finds any Application that is incomplete or contains inaccurate

information, it will be rejected. The CDFI Fund expects all organizations to fully review

Applications for completeness and accuracy prior to submission. Organizations whose

Applications are rejected for missing or inaccurate information will be required to submit a new

Application.

(18) If approved, a CDFI Certification Agreement 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 30 business days

via AMIS. A copy of the executed Agreement will be available in the AMIS account for future

reference.

A successful Applicant will need to sign a Certification Agreement. When the Applicant signs the

CDFI Certification Agreement: (1) the Certification shall be administered pursuant to the General

Terms and Conditions, and (2) the CDFI Certification shall be subject to further provisions, terms,

conditions, requirements, certifications, and representations that are set forth in additional

schedules that will be attached and become a material part of the agreement.

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 template can

be found on the CDFI Fund website.

(19) If an Applicant is denied CDFI Certification, 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.

(20) Upon an Applicant’s Certification, the CDFI shall comply with all record retention and access

requirements set forth in the Uniform Requirements at 2 CFR 200.334-338. Public access to

Recipient records shall be maintained in accordance with the Uniform Requirements at 2 CFR

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 five years

after submission of the document(s) or record(s) to the CDFI Fund. The CDFI shall maintain

documentation supporting the data reported to the CDFI Fund.

(21) Upon Certification, the CDFI will be required to meet annual reporting requirements through the

submission of an Annual Certification and Data Collection Report (ACR) and TLR, 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 denied for CDFI Certification if they contain inconsistencies between the

Applicant’s name in the Application and required documents.

- Applications that contain incomplete or inaccurate information will be declined for CDFI

Certification without a full review.

- Upon designation as a Certified CDFI, entities must continue to meet all Certification

requirements. CDFI Certification may be revoked if the entity fails to provide documentation

demonstrating it continues to meet CDFI Certification requirements.

- Personally Identifiable Information (PII) is information that if lost, compromised, or disclosed

without authorization could result in substantial harm, embarrassment, inconvenience, or

unfairness to an individual. The protection of PII is extremely important to the CDFI Fund. As

such, the CDFI Fund will not disclose PII information on its website.

- With the exception of personally identifiable information, any organizational information or

data collected in AMIS or otherwise provided to the CDFI Fund (e.g., CDFI Certification

Application, Target Market modification request, ACR, TLR, periodic requests for additional

information) may be posted on the CDFI Fund’s public website, shared with other federal

agencies, or accessed via a Freedom of Information Act (FOIA) request.

- The CDFI Certification is conferred on an entity as identified by a specific EIN. The CDFI

Certification cannot be extended to cover entities other than the primary holder of a specific

EIN, such as entities that may share the EIN but that are considered to be disregarded entities

for federal tax purposes, or Affiliates. Neither can the CDFI Certification be transferred to an

entity with a different EIN, including successor entities formed under a new EIN. If a federal EIN

to which a CDFI Certification was connected ceases to exist, the CDFI Certification also ceases to

exist.

- 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 can 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.

Authorized Representative Signature

The Authorized Representative is required to attest to the following terms:

I hereby consent to conducting this transaction by electronic means, and I hereby agree that I have

executed an electronic process that constitutes, and provides the CDFI Fund with, my electronic

signature, which shall be treated as an original signature and as having signed this Application just the

same as a pen-and paper signature; I hereby acknowledge that all information contained in this

Application and any attachments or supplements thereto will be subject to disclosure pursuant to the

FOIA 5 U.S.C. 552 et seq.; I hereby certify that all of the information that the Applicant has provided in

this Application is true, correct, and complete to the best of my information, knowledge, and belief; I

hereby certify that the execution and submission of this Application has been duly authorized by the

governing body of the Applicant; and hereby certify that I am aware that any false, fictitious, or

fraudulent statements or claims may subject me to criminal, civil, or administrative penalties (U.S. Code,

title 218, Section 1001).

By selecting this checkbox, I agree to the terms stated above.

Name: Authorized Representative Name Selected via AMIS

Date: Electronically stamped

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.

OBTAINING DETERMINATION OF RESPONSIBLE FINANCING PRACTICES,

SIMILAR FINANCIAL PRODUCTS, SIMILAR FINANCIAL SERVICES,

DISREGARDED OR INCLUDED MAJOR ASSETS/STAFF TIME, TARGETED

POPULATIONS, AND TARGET MARKET ASSESSMENT METHODOLOGIES

Section

Question or purpose of data field

Response

OD01

Does the Applicant want to propose a similar

Financial Product or similar Financial Services that

are not currently pre-approved?

Yes or No.

If “No,” skip to OD02.

If “Yes”:

OD01.1

Select the proposed activity.

Select one:

- Similar Financial.

Product.

- Similar Financial Service.

OD01.2

Provide the name of the proposed

similar Financial Product/similar

Financial Service.

Enter name.

OD01.3

Provide a description of the proposed

similar Financial Product/similar

Financial Service (e.g., rates, terms,

conditions) and its purpose.

Narrative.

OD01.4

Identify the target borrower, investee,

and/or service recipient.

Narrative.

OD01.5

Describe any protections that ensure

the proposed similar Financial Product

does not harm consumers.

Narrative.

OD01.6

Provide evidence that consumers are

not harmed by the proposed similar

Financial Product (e.g., the rate of

successful repayments under the

original rates, terms, and conditions of

the product).

Narrative.

OD01.7

Provide any additional information

necessary for the CDFI Fund to

consider the request.

Narrative or N/A.

Section

Question or purpose of data field

Response

OD01.8

Attach relevant support document(s).

Attachment(s).

If the Applicant requests consideration of multiple similar Financial Products or similar Financial

Services, repeat questions OD01.1 through OD01.8.

OD02

Does the Applicant want to propose an amended

responsible financing practice standards?

Yes or No.

If “No,” skip to OD03.

If “Yes”:

OD02.1

Describe the financing activity.

Narrative.

OD02.2

Identify the current standard the

financing activity does not meet.

Narrative.

OD02.3

Describe how the financing activity

serves a community development

purpose.

Narrative.

OD02.4

Describe any protections that ensure

the financing activity does not harm

consumers and/or conditions under

which the financing activity should be

considered an acceptable community

development activity.

Narrative.

OD02.5

Provide evidence that consumers are

not harmed.

Narrative.

OD02.6

Provide any additional information

necessary for the CDFI Fund to

consider the request.

Narrative.

OD02.7

Attach relevant support document(s).

Attachment(s).

If the Applicant requests amendment of multiple financing practice standards, repeat questions

OD02.1 through OD02.7

OD03

Does the Applicant want to propose major assets

and/or staff time to be disregarded or included for

purposes of the Financing Entity predominance

test?

Yes or No.

If “No,” skip to OD04.

If “Yes”:

OD03.1

Does the Applicant seek to disregard or

include major assets and/or staff time?

Select one:

- Include major assets

and/or staff time.

- Disregard major assets

and/or staff time.

OD03.2

Provide a description of the major

assets and/or staff time to be

disregarded or included.

Narrative.

OD03.3

Enter the dollar amount for the

portion of the balance sheet line

item(s) to be disregarded or included,

and the name of the balance sheet line

item(s).

Enter dollar amount and name

of balance sheet line item.

OD03.4

Enter the average FTE staff time to be

disregarded.

Enter average FTE staff time.

Section

Question or purpose of data field

Response

OD03.5

How did the Applicant determine the

amount of the major asset(s) and/or

staff time to be disregarded or

included?

Narrative.

OD03.6

If seeking to disregard any major

asset(s) and/or staff time, provide an

explanation for why the major asset(s)

and/or staff time incorrectly appears

to indicate the Applicant is not

predominately a financing entity.

Narrative.

OD03.7

If seeking to include any major asset(s)

and/or staff time, provide an

explanation for why the major asset(s)

and/or staff time dedicated to this

activity is essential for the Applicant to

conduct its Financial Product and/or

Financial Services activity.

Narrative.

OD03.8

Attach Applicant’s most recently

completed fiscal year balance sheet

and income statement, and current

fiscal year-to-date balance sheet.

Attachment(s).

If the Applicant requests consideration of multiple major assets and/or staff time to be disregarded or

included, repeat questions OD03.1 through OD03.8.

OD04

Does the Applicant want to propose additional

Targeted Population(s)?

Yes or No.

If “No,” skip to OD05.

If “Yes”:

OD04.1

Provide the name of/for the Targeted

Population.

Enter Name.

OD04.2

Provide a description of the Targeted

Population.

Narrative.

OD04.3

Identify the geographic location of the

Targeted Population intended to be

served.

Enter geography.

OD04.4

Unless “national,” enter map name of

geography created in CIMS.

Enter Map Name.

OD04.5

Provide a narrative that demonstrates

that the specific Targeted Population

has significant unmet capital for

Financial Services needs.

Narrative.

OD04.6

Identify whether the Applicant serves

the members of the Targeted

Population directly or indirectly (e.g.,

through borrowers or investees that

serve such members).

Select all that apply:

- Directly.

- Indirectly.

OD04.7

Provide a description of the specific

Narrative.

Section

Question or purpose of data field

Response

evidence showing the proposed

Targeted Population has disparities,

controlling for poverty and income

effects, in their access to Financial

Products and Services for the

geographic population service area.

OD04.8

Attach the specific evidence used to

demonstrate support of the need.

Attachment(s).

OD04.9

Provide any additional information

necessary for the CDFI Fund to

consider the request.

Narrative or N/A.

If the Applicant requests consideration of multiple Targeted Populations, repeat questions OD04.1

through OD04.9. For each proposed Targeted Population, the Applicant also must submit a proposed

Target Market assessment methodology for that Targeted Population.

OD05

Does the Applicant want to propose other Target

Market assessment methodologies?

Yes or No.

If responses to OD01, OD02,

OD03, OD04, and OD05 are No,

the Applicant may continue with

the Application process by

completing the Transaction

Level Report.

If “Yes”:

OD05.1

Identify the applicable Target Market

Type.

Select one:

- Investment Area.

- Low-Income Targeted

Population.

- Other Targeted

Population.

OD05.2

Describe the assessment methodology

(including the step-by-step process

used to collect the data, review any

documents, and/or run the model and

process its results.)

Narrative.

OD05.3

Attach any supporting or supplemental

documentation necessary to provide a

full description of the proposed

assessment methodology.

Attachment.

OD05.4

Describe how the proposed

assessment methodology provides

sufficient confidence that a transaction

can be assigned to a specific Target

Market.

Narrative.

OD05.5

If proposing a programmatic proxy,

provide the program’s detailed

eligibility criteria or the step-by-step

Narrative.

Section

Question or purpose of data field

Response

process used to compare

programmatic data to CDFI Fund

definitions (e.g., income sources,

income thresholds).

OD05.6

Describe the process for recordkeeping

as well as updating any methodology

dependent on underlying data

changes.

Narrative.

OD05.7

Provide any additional information

necessary for the CDFI Fund to

consider the request.

Narrative.

If the Applicant requests consideration of multiple Target Market assessment methodologies, repeat

questions OD05.1 through OD05.7.

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 prior to submitting the full Application for review. 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.

Governing leadership member and Executive Staff information collected by the CDFI Fund to report is

not included as evaluation criteria and has no bearing on the CDFI Certification determination.

The Applicant and/or Affiliate names in AMIS and registered with SAM.gov

must match those listed in

the Basic Information section, or the Application may be rejected.

Section

Question or purpose of data field

Response

BI01

Applicant – Entity Name

[Auto-populated from the

Applicants must register with SAM.gov to obtain a UEI and confirm they meet the Legal Entity requirement.

Section

Question or purpose of data field

Response

Applicant’s AMIS account.]

BI02

Applicant – Financial Institution Type

[Auto-populated from the

Applicant’s AMIS account.]

BI03

Applicant – Depository Institution Holding

Company

Yes or No.

BI04

Applicant – Minority Depository Institution as

designated by the Federal Deposit Insurance

Corporation (FDIC) or the National Credit Union

Administration (NCUA)

Yes or No.

BI05

Applicant – EIN

[Auto-populated from the

Applicant’s AMIS account.]

BI06

Applicant – Unique Entity ID

[Auto-populated from Applicant’s

AMIS account.]

BI07

Applicant – Date of

Incorporation/Organization/Establishment

[Auto-populated from the

Applicant’s AMIS account.]

BI08

Applicant – Fiscal Year End Month

[Auto-populated from the

Applicant’s AMIS account.]

BI09

Applicant – Fiscal Year End Day

[Auto-populated from the

Applicant’s AMIS account.]

BI10

Can the Applicant meet the CDFI Certification

requirements based on its own arm’s-length, on-

balance sheet Financial Product and/or direct

Financial Services activity?

Yes or No.

BI10.1

If “No,” identify the CDFI

Certification provision(s) the

Applicant seeks to use that either

enables it to use the Financial

Product or Financial Services activity

of an Affiliate(s) or to use on-

balance sheet Financial Product

activity with an Affiliated Controlling

Certified CDFI to meet the CDFI

Certification requirements.

Select one:

- Applicant is applying for

Certification solely to

participate in the BG

Program and is Controlled

by a Certified CDFI.

- Applicant is a DIHC that

does not engage in its own

direct Financial Product or

Financial Services activity

and is relying on the

activity of an Affiliate(s) to

meet the CDFI Certification

requirements.

BI11

Has the Applicant completed at least one full 12-

month fiscal year since the date of its

incorporation/organization/establishment

documentation was filed with or approved by

the appropriate authorizing agency?

Yes or No.

BI11.1

If “No,” identify the exception(s) to

the CDFI Certification requirement

that 12 full months must have

passed since an entity began its

Select all that apply:

- Applicant seeks to use the

CDFI Certification provision

for Spin-off entities.

Section

Question or purpose of data field

Response

financing activity that the Applicant

seeks to use.

- Applicant is a DIHC that

does not engage in its own

direct Financial Product or

Financial Services activity

and is 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 CDFI Certification

solely for participation in the CDFI Fund’s BG

Program:

Identify the Certified CDFI that Controls the

Applicant.

Select the Certified CDFI Affiliate

from Picklist.

BI13

If the Applicant is a DIHC that does not engage

directly in the provision of Financial Products

and/or Financial Services:

Identify the Affiliate that has completed at least

one full 12-month fiscal year prior to submission

of the CDFI Certification Application.

Select the Affiliate from Picklist.

BI13.1

Affiliate date of incorporation.

[Auto-populated from AMIS.]

BI14

Is the CDFI Certification Applicant an Affiliate of

a DIHC?

Yes or No.

BI15

Is the CDFI Certification Applicant a Subsidiary of

an 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 Spin-off 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 Spin-off 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 Spin-off entities.

Section

Question or purpose of data field

Response

BI17.3

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 Spin-off entities.

BI17.4

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 immediate

six months completed prior to

submission of the CDFI Certification

Application?

Yes or No.

If “No,” the Applicant is not eligible

for CDFI Certification.

BI18

Does the Applicant have a Controlling Entity or

any Affiliate(s) that engage in the provision of

Financial Products or Financial Services?

Yes or No.

BI19

Attach a copy of the Applicant’s signed and

dated board/owner-approved document

(bylaws, operating agreement, partnership

agreement, or similar documentation).

Attach documentation.

BI20

If the Applicant is a non-depository institution,

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:

- Statement signed by an

officer(s) of the

governing/managing

board, owner, or

Authorized Representative

that was incorporated into

the document when it was

ratified indicates the

document was approved

by an officer(s) of the

governing/managing

board, owner, or

Authorized Representative.

- Statement signed by

officer(s) of the

governing/managing

board, owner, or

Authorized Representative

that was prepared

separately but references

the document or the

decision was approved by

the board/owner and

Section

Question or purpose of data field

Response

specifies the approval date.

- Document evidences filing

with a government agency

responsible for the

registration or oversight of

entities operating within a

certain jurisdiction or

industry.

- Governing body meeting

minutes confirm approval

of the document or the

board/owner’s decision

and the meeting date and a

statement signed by an

Authorized Representative

that was incorporated into

the original preparation of

minutes are true and

accurate.

- Governing body meeting

minutes confirm approval

of the relevant document

or the decision it records

and the meeting date and a

statement validly signed by

an Authorized

Representative(s) that was

prepared separately from

the original minutes, but

clearly references the

version of the minutes

provided, affirms that they

are true and accurate.

- N/A.

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 leadership and

Executive Staff.

Governing leadership or Executive Staff members who identify as a member of more

than one race and ethnicity may be counted under each race and ethnicity with which they identify.

Section

Question or purpose of data field

Response

BI-DI01

Indicate the total number of governing

leadership members.

Enter number.

BI-DI02

Indicate the total number of governing

leadership members who identify as a member

of a minority

population.

Enter number.

BI-DI03

Percentage of governing leadership members

who identify as a member of a minority

population.

[Auto-calculated.]

BI-DI03.1

Indicate the number of governing

leadership members who identify as

Black.

Enter number.

BI-DI03.2

Percentage of governing leadership

members who identify as Black.

[Auto-calculated.]

BI-DI03.3

Indicate the number of governing

leadership members who identify as

Asian.

Enter number.

BI-DI03.4

Percentage of governing leadership

members who identify as Asian.

[Auto-calculated.]

BI-DI03.5

Indicate the number of governing

leadership members who identify as

Native American.

Enter number.

BI-DI03.6

Percentage of governing leadership

members who identify as Native

American.

[Auto-calculated.]

BI-DI03.7

Indicate the number of governing

leadership members who identify as

Native Alaskan.

Enter number.

BI-DI03.8

Percentage of governing leadership

members who identify as Native

Alaskan.

[Auto-calculated.]

BI-DI03.9

Indicate the number of governing

leadership members who identify as

Native Hawaiian.

Enter number.

BI-

DI03.10

Percentage of governing leadership

members who identify as Native

[Auto-calculated.]

“Executive Staff” means the chief executive and all executive officers or senior decision-makers that have a

reporting relationship to the chief executive or the Board of Directors.

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.

Section

Question or purpose of data field

Response

Hawaiian.

BI-

DI03.11

Indicate the number of governing

leadership members who identify as

Pacific Islander.

Enter number.

BI-

DI03.12

Percentage of governing leadership

members who identify as Pacific

Islander.

[Auto-calculated.]

BI-

DI03.13

Indicate the number of governing

leadership members who identify as

Hispanic.

Enter number.

BI-

DI03.14

Percentage of governing leadership

members who identify as Hispanic.

[Auto-calculated.]

BI-DI04

Indicate the number of governing leadership

members who identify as Non-Hispanic White.

Enter number.

BI-DI05

Percentage of governing leadership members

who identify as Non-Hispanic White.

[Auto-calculated.]

BI-DI06

Indicate the number of governing leadership

members whose race and ethnicity are not

known or who prefer not to say.

Enter number.

BI-DI07

Percentage of governing leadership members

whose race and ethnicity are not known or who

prefer not to say.

[Auto-calculated.]

BI-DI08

Indicate the number of governing leadership

members who identify as female.

Enter number.

BI-DI09

Percentage of governing leadership members

who identify as female.

[Auto-calculated.]

BI-DI10

Indicate the number of governing leadership

members who identify as male.

Enter number.

BI-DI11

Percentage of governing leadership members

who identify as male.

[Auto-calculated.]

BI-DI12

Indicate the number of governing leadership

members who identify as non-binary or other.

Enter number.

BI-DI13

Percentage of governing leadership members

who identify as non-binary or other.

[Auto-calculated.]

BI-DI14

Indicate the total number of Executive Staff.

Enter number.

BI-DI15

Indicate the total number of Executive Staff who

identify as a member of a minority population.

Enter number.

BI-DI16

Percentage of Executive Staff who identify as a

member of a minority population.

[Auto-calculated.]

BI-DI16.1

Indicate the number of Executive

Staff who identify as Black.

Enter number.

BI-DI16.2

Percentage of Executive Staff who

identify as Black.

[Auto-calculated.]

BI-DI16.3

Indicate the number of Executive

Staff who identify as Asian.

Enter number.

BI-DI16.4

Percentage of Executive Staff who

[Auto-calculated.]

Section

Question or purpose of data field

Response

identify as Asian.

BI-DI16.5

Indicate the number of Executive

Staff who identify as Native

American.

Enter number.

BI-DI16.6

Percentage of Executive Staff who

identify as Native American.

[Auto-calculated.]

BI-DI16.7

Indicate the number of Executive

Staff who identify as Native Alaskan.

Enter number.

BI-DI16.8

Percentage of Executive Staff who

identify as Native Alaskan.

[Auto-calculated.]

BI-DI16.9

Indicate the number of Executive

Staff who identify as Native

Hawaiian.

Enter number.

BI-

DI16.10

Percentage of Executive Staff who

identify as Native Hawaiian.

[Auto-calculated.]

BI-

DI16.11

Indicate the number of Executive

Staff who identify as Pacific Islander.

Enter number.

BI-

DI16.12

Percentage of Executive Staff who

identify as Pacific Islander.

[Auto-calculated.]

BI-

DI16.13

Indicate the number of Executive

Staff who identify as Hispanic.

Enter number.

BI-

DI16.14

Percentage of Executive Staff who

identify as Hispanic.

[Auto-calculated.]

BI-DI17

Indicate the number of Executive Staff who

identify as Non-Hispanic White.

Enter number.

BI-DI18

Percentage of Executive Staff who identify as

Non-Hispanic White.

[Auto-calculated.]

BI-DI19

Indicate the number of Executive Staff whose

race and ethnicity are not known or who prefer

not to say.

Enter number.

BI-DI20

Percentage of Executive Staff whose race and

ethnicity are not known or who prefer not to

say.

[Auto-calculated.]

BI-DI21

Indicate the number of Executive Staff who

identify as female.

Enter number.

BI-DI22

Percentage of Executive Staff who identify as

female.

[Auto-calculated.]

BI-DI23

Indicate the number of Executive Staff who

identify as male.

Enter number.

BI-DI24

Percentage of Executive Staff who identify as

male.

[Auto-calculated.]

BI-DI25

Indicate the number of Executive Staff who

identify as non-binary or other.

Enter number.

BI-DI26

Percentage of Executive Staff who identify as

non-binary or other.

[Auto-calculated.]

BI-DI27

Indicate the race/ethnicity of the Applicant’s

Select all that apply:

Section

Question or purpose of data field

Response

Chief Executive Officer/Executive Director.

- Non-Hispanic White.

- Black.

- Asian.

- Native American.

- Native Alaskan.

- Native Hawaiian.

- Pacific Islander.

- Hispanic.

- Prefer not to say.

BI-DI28

Indicate the gender of the Applicant’s Chief

Executive Officer/Executive Director.

Select one:

- Female.

- Male.

- Non-Binary.

- Other.

BASIC INFORMATION – AFFILIATES

CDFI Certification Applicants that have Affiliates subject 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.

Applicants that are DIHCs, Affiliates of DIHCs, or Subsidiaries of IDIs

If the entity seeking CDFI Certification is a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, it must

identify any Affiliate in its family of entities that meets any of the following criteria for consideration in

connection with the CDFI Certification collective review (even if all such Affiliates are not seeking to

obtain or maintain the CDFI Certification):

- any Affiliate that is a DIHC or an IDI that Controls the Applicant;

- any Affiliate of a DIHC Applicant 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.

Applicants that are not DIHCs, Affiliates of DIHCs, or Subsidiaries of IDIs

In addition to presenting Affiliates subject 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 activity, and the Applicant and the Affiliate are

under the mutual Control of another entity; or

- The Affiliate directly engages in Financial Product 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 subject to other

CDFI Certification requirements, present information on their Controlling Certified CDFI(s).

Spin-off Entities

Applicants seeking to use the CDFI Certification provision for Spin-off 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 – EIN

[Auto-populated from the

Applicant’s AMIS account.]

BI-A03

Affiliate – Date of

Incorporation/Organization/Establishment

[Auto-populated from the

Applicant’s AMIS account.]

BI-A04

Is the Affiliate a Certified CDFI?

Yes or No.

If “Yes”:

BI-A04.1

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-A04.2

Does the Affiliate Control the

Applicant?

Yes or No.

BI-A05

Is the Affiliate a Certified Community

Development Entity (CDE)?

Yes or No.

BI-A06

Is the Affiliate’s sole line of business the

administration of another federal financing

program(s)?

Yes or No.

If “Yes”:

Section

Question or purpose of data field

Response

BI-A06.1

Identify the other federal

financing program(s).

Enter name(s).

BI-A07

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-A08

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

Product and/or Financial

Services activity, and the

Affiliate and the Applicant

are under the mutual

Control of an IDI.

BI-A09

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.

Section

Question or purpose of data field

Response

BI-A10

If the Applicant seeks to use the CDFI

Certification provision for Spin-offs 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

Spin-off 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-A11

If the Applicant relies on the Affiliate to provide

Development Services and the Affiliate

relationship was not identified in any of the

other Affiliate relationship data fields:

Identify the relationship between the Applicant

and the Affiliate.

Select one:

- The Affiliate currently

Controls the Applicant.

- The Affiliate is currently

Controlled by the

Applicant.

- The Affiliate and

Applicant are currently

mutually Controlled by

another entity.

BI-A12

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-A13

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-A14

If the Applicant seeks to use the CDFI

Certification provision for Spin-off entities and

the Applicant received Spin-off Financial Product

Yes or No.

If “No,” the Applicant is not

Section

Question or purpose of data field

Response

activity from this entity:

Is the Applicant currently offering at least one

arm’s-length, on-balance sheet Financial Product

that was spun off by the original entity?

eligible to use the special CDFI

Certification provision for Spin-off

entities.

If “Yes”:

BI-A14.1

Identify at least one Financial

Product that was spun off to the

Applicant by the original entity.

Enter name.

BI-A14.2

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.

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 in combination with Financial Products 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 seeking to use the CDFI

Certification provision 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.

If “Yes,” the Applicant will skip question

BI-FP09.

BI-FP03

Identify the Financial Product transaction

types offered directly by the Applicant.

Select all that apply:

- Loans.

- Lines of credit.

- Credit Cards.

- Equity Investments.

- Debt with Equity features.

- Loan guarantees.

- Loans purchased from Certified

Section

Question or purpose of data field

Response

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).

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-FP05

For each of the Financial Product types offered

directly by the Applicant, select the available

Financial Product purpose(s).

Select all that apply:

- 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.

- Non-Real Estate

Microenterprise.

- Climate-Centered Finance.

- Other (e.g., Intermediary

support other Certified CDFIs).

BI-FP06

If “Other” was selected for Financial Product

Purpose, describe the purpose.

Provide description.

BI-FP07

Are the selected Financial Product transaction

types offered directly by the Applicant?

Yes or No.

Section

Question or purpose of data field

Response

If “No,” only a DIHC Applicant may

include the Financial Products as eligible

Financial Products.

BI-FP08

Are the selected Financial Product transaction

types on-balance sheet for the Applicant?

Yes or No.

If “No,” only a DIHC Applicant can

include the Financial Products as eligible

Financial Products.

BI-FP09

Are the selected Financial Product transaction

types offered by the Applicant at arm’s-

length?

Yes or No.

If “No,” the Applicant cannot include

the Financial Products as eligible

Financial Products.

If BI-FP02 response is “Yes,” the

Applicant will skip this question.

BI-FP10

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.

BI-FP11

Does the Applicant report all consumer

Financial Product transactions to a major

credit bureau?

Yes, No, or N/A (i.e., does not offer

consumer loan products).

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.

BI-FS03

Identify each of the Financial Services

categories offered directly by the Applicant.

Select all that apply:

- Savings and Share

Accounts.

- Checking Accounts.

- Certificates of Deposit.

- Money Market Accounts.

- Check Cashing.

BI-FS04

Provide the earliest date a Financial Services

transaction was completed.

Enter date.

BASIC INFORMATION – 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.

BASIC INFORMATION – 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.

LEGAL ENTITY

To be a Certified CDFI, the Applicant must be duly organized and operating 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.

The CDFI Fund requires all CDFI Certification Applicants and entities subject to the collective review

process to register with the U.S. federal government’s System for Award Management (SAM) to

demonstrate that it is a legal entity. SAM will provide each registrant with a Unique Entity ID (UEI) that

must be provided in the organization’s profile page in AMIS.

To complete the Legal Entity section of the Application, Applicants will

- register with SAM.gov to obtain a UEI; and

- review auto-populated information in the Legal Entity fields for accuracy. If information is

missing or inaccurate, submit all updates and make corrections in the Organization Detail Page

in AMIS prior to submitting the full Application for review. For assistance with technical issues,

submit a Service Request in AMIS.

The Applicant and/or Affiliate names in AMIS and SAM should match those listed in the Basic

Information section. If not, the Application will 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.

Section

Question or purpose of data field

Response

LE01

Applicant EIN.

[Auto-populated.]

LE02

Applicant – Unique Entity ID.

[Auto-populated.]

LE03

Date of

Incorporation/Organization/Establishment.

[Auto-populated.]

LE04

Applicant Institution Type.

[Auto-populated.]

LE05

Applicant Federal Regulator.

[Auto-populated.]

LE06

Applicant Charter Number.

[Auto-populated.]

LE07

Applicant FDIC Insurance Certificate Number.

[Auto-populated.]

LE08

Applicant RSSID Number.

[Auto-populated.]

LE09

Applicant State or Other Regulator.

[Auto-populated.]

LE10

If the Applicant is a depository institution,

identify the Applicant’s insurer.

Select one:

- FDIC.

- NCUA.

- State Regulator.

Section

Question or purpose of data field

Response

- 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.

LE11

If the Applicant seeks to use the CDFI

Certification provision solely for participation in

the 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.

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, per regulation,

purposefully directed toward improving the social and/or economic conditions of underserved people

and/or residents of economically distressed communities. As part of its assessment, the CDFI Fund will

consider whether the entity has a community development mission and strategy and whether the entity

meets the CDFI Fund’s standards for responsible financing practices.

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 that meets

any of the following criteria also meets the primary mission requirements:

12 CFR § 1805.201(b)(1).

Includes Low-Income persons and/or, as approved by the CDFI Fund, other persons who lack adequate access to

capital and/or Financial Services.

- 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.

- 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 that are not 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.

- The Affiliate engages in the provision of Financial Products and/or Financial Services.

Affiliates listed in the Basic Information section that are separately Certified CDFIs or Community

Development Entities (CDEs), as well as Affiliates whose sole activity is the 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.

Spin-offs

Any Applicant that seeks to use the CDFI Certification provision for Spin-off entities must demonstrate

that the Applicant and/or original entity has had an acceptable primary mission of community

development in place for at least six full months immediately prior to submission of the CDFI

Certification Application. Spin-offs also must demonstrate that all entities subject to the collective

review process individually meet all of the primary mission criteria.

DOCUMENTING MISSION

The Applicant must be able to demonstrate that it has had a primary mission of promoting community

development in place for at least the six full 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 a primary mission of promoting community development, an entity must

present documentation that the Applicant’s mission has been approved by the Applicant’s board

governance or owner. Examples of promoting community development include providing responsible

Financial Products and Financial Services to Low-Income borrowers, Other Targeted Populations, and/or

residents of and businesses located in economically distressed communities, as well as efforts to

promote affordable housing, community-serving facilities, economic development in economically

distressed communities, and/or supporting the provision of community services such as child care,

education, health care, social services, or workforce development.

COMMUNITY DEVELOPMENT STRATEGY

The Applicant must be able to demonstrate that it has a 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. If the Applicant does not have a strategic plan, it must submit

a board- or owner-approved narrative that describes 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.

As evidence of a community development strategy, the Applicant’s strategic plan or narrative should

include references to

- the Applicant’s geographic and/or demographic Target Market and the needs of and/or

opportunities in the Target Market, which might include quantitative data or qualitative input

from members of that Target Market;

- one or more community development goals and objectives and/or how the Applicant intends to

meet those goals and objectives; and

- how the Applicant’s Financial Products and Financial Services, Development Services, and/or

other activities are expected to improve the social and/or economic conditions of that Target

Market.

A separate community development strategy is not required for Affiliates, but an Applicant must

describe how the activities of any Affiliate(s) support and/or are consistent with the community

development mission of the Applicant.

RESPONSIBLE FINANCING PRACTICES

To meet the CDFI Certification standards for responsible financing practices, an Applicant (and its

Affiliates) should provide Financial Products and Financial Services that are consistent with promoting

community development. Such Financial Products should not harm consumers, be affordable, be

originated based upon an assessment of whether a borrower can pay back a loan, and have terms and

conditions that are transparent and understandable to the borrower. CDFIs should practice

transparency, fair collections, and compliance with federal, State, and local laws and regulations. The

CDFI Fund also considers the safety, affordability, and transparency of an Applicant’s Financial Services

to be an important aspect of the Applicant’s commitment to a community development mission.

The Application asks a series of questions related to the Applicant’s (and its Affiliates’) Financial

Products and Financial Services to determine whether they are consistent with these principles and with

a community development mission. These questions apply to all Financial Products and Financial

Services offered by an Applicant and its Affiliates, not only those directed to one or more of the

Applicant’s Target Markets.

Ineligible Practices

Any Applicant that either directly or through an Affiliate 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 consumer loans that allow for an APR in excess of 36%

and

o the loans have an annual default rate over 5%;

o the loans in question include a leveraged payment mechanism;

o any such loans of $1,000 or less have repayment timeframes that exceed 12 months;

o for a period of 12 full months after the issuance of any such loan, the Applicant does not

waive any upfront fees for any refinance or new loan issued to the same borrower;

o any fees associated with such installment loans are not spread evenly over the life of the

loan or pro rata refundable in the event of early repayment (including through a

refinance); or

o all payments on any such installment loans are not substantially equal and do not

amortize smoothly to a zero balance by the end of the loan term;

- offers covered

single-family, owner-occupied, residential mortgage loan products secured by a

non-subordinate lien

o for which the Applicant fails to verify the income or assets of the borrower;

o that include negative amortization or interest-only payments;

o that charge upfront points and fees to the consumer in excess of 3%, or in excess of the

Qualified Mortgage limits for smaller loans; or

o that are underwritten at less than the maximum rate in the first five years;

- sells its charged-off consumer or small business 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);

- leverages, for its own benefit, the assets of any of its active equity investees.

If a Certified CDFI that has attested it does not offer consumer or small business loans that allow for an APR in

excess of 36% later determines that a transaction’s APR exceeds 36%, the CDFI may remain eligible for CDFI

Certification without having to meet the additional conditions for consumer loans above 36% provided the CDFI,

within 210 days after consummation, makes any necessary rate correction and pays to the consumer the dollar

amount by which the transaction’s total points and fees and/or interest payments caused the transaction to

exceed a 36% APR.

For purposes of question PM19 on an Applicant’s mortgage loan products, a covered mortgage loan product is

limited to a consumer credit transaction that is secured by a lien on a single-family, owner-occupied residence

other than

(i) transactions secured by a subordinate lien;

(ii) a reverse mortgage subject to 12 CFR 1026.33;

(iii) a temporary or “bridge” loan with a term of 12 months or less, such as a loan to finance the purchase of a

new dwelling where the consumer plans to sell a current dwelling within 12 months or a loan to finance

the initial construction of a dwelling;

(iv) a construction phase of 12 months or less of a construction-to-permanent loan;

(v) an extension of credit made pursuant to a program administered by a Housing Finance Agency, as defined

under 24 CFR 266.5;

(vi) an extension of credit made pursuant to a program administered by the U.S. Department of Housing and

Urban Development, the U.S. Department of Veterans Affairs, or the U.S. Department of Agriculture;

(vii) a transaction that does not require payment of interest;

(viii) a transaction made for the purpose of foreclosure avoidance or prevention; or

(ix) for loans with interest-only payments and loans with balloon payments, a transaction with a payment

schedule that is adjusted to the seasonal or irregular income of the consumer.

For purposes of determining the highest allowable APR for any of an Applicant’s consumer loan

products, 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 covered

borrower status.

Practices Requiring Further Explanation

Unless an acceptable explanation of how the below practices have a community development purpose

consistent with the principles described in this section is provided, an Applicant may also be determined

to be ineligible for CDFI Certification for engaging in the following activities:

- does not evaluate the ability of certain mortgage, consumer, or small business borrowers to pay

back a loan;

- offers small business

loans that allow for an APR in excess of 36%;

- offers covered mortgages with balloon payments or that carry an original maximum term longer

than 30 years (unless offered through a government program); or

- charges excessive overdraft or nonsufficient funds (NSF) fees or has practices that are related to

these fees that are harmful.

For purposes of determining the highest allowable APR for any of an Applicant’s small business loan

products, Applicants must use the standard Truth in Lending Act (TILA) methodology in 12 CFR Part 1026

(Regulation Z).

Other questions provide Applicants an opportunity to further demonstrate community development

intent, such as how they assist struggling borrowers. Depository institution Applicants must also provide

information on checking or share account features they offer.

Beginning January 1, 2026, new Applicants that offer 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, and APR of the loan will be ineligible for CDFI Certification.

Certified CDFIs that offer small business loan products will be required to attest in their ACR to making

such disclosures no later than October 1, 2026, in order to maintain their Certification.

Obtaining Determination to Amend the Standards for Responsible Financing Practices

The current standards for responsible financing practices allow for certain circumstances under which an

otherwise disqualifying practice might serve an acceptable community development purpose. For

example, Applicants that offer consumer loans that exceed an APR of 36% may still be determined

The CDFI Fund does not require that an Applicant calculate, disclose, or report the MAPR of its consumer loan

products unless otherwise required by statute or regulation to do so. Applicants must attest as to whether or not

any of its consumer loan products “allow for” an MAPR in excess of 36% MAPR. If so, Applicants must respond to a

set of secondary questions about the loan product’s characteristics. 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.

For purposes of CDFI Certification, “small business” has the same meaning as the term “small business concern”

in 15 U.S.C. 632(a), as implemented in 13 CFR 121.101 through 121.107. Notwithstanding the size standards set

forth in 13 CFR 121.201, for purposes of this subpart, a business is a small business if its gross annual revenue, as

defined in § 1002.107(a)(14), for its preceding fiscal year is $5 million or less.

eligible for Certification if certain conditions are met, such as a default rate no greater than 5%, limits on

fees to refinance the loan, or substantially equal loan payments that amortize to a zero balance.

Similarly, certain otherwise disqualifying residential real estate mortgage loan characteristics are

allowable for the purposes of CDFI Certification if the Applicant meets additional criteria.

Applicants seeking to engage in financing activities that do not currently meet the standards for

responsible financing practices of the primary mission test may seek amendment to the standards to

allow for additional activity that serves a community development purpose. To do so, Applicants must

provide the following information for the CDFI Fund’s consideration in advance of an Application

submission:

- description of the financing activity;

- current standard that the financing activity does not meet;

- reasons the Applicant believes the financing activity serves a community development purpose;

- protections that ensure the financing activity does not harm consumers;

- evidence that consumers are not harmed (e.g., if discussing a Financial Product characteristic,

the rate of successful repayment under the original rates, terms, and conditions of the Financial

Product);

- conditions or parameters under which the financing activity should be considered an acceptable

community development activity (e.g., limits on rates charged, purpose, borrower

characteristics); and

- any additional relevant information.

The CDFI Fund will not approve individual exceptions to the primary mission test, and any amendment

to the standards for responsible financing practices will be made available to all CDFIs and future

Applicants.

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 is

consistent with the community

development mission of the Applicant).

Select all that apply:

- Legal Entity documents.

- Bylaws.

- 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

Attach all documents.

Section

Question or purpose of data field

Response

• Date the current mission went

into effect.

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 leadership.

- The document(s) is supplemented by

official governing leadership 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 leadership 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.

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.]

PM09

Is the date by which an appropriate

primary mission was formally approved

less than six months?

Yes or No.

If “Yes,” 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:

PM09.1

Indicate the type(s) of

document(s) presented as

evidence that the Applicant

Select all that apply:

- Legal Entity documents.

- Bylaws.

Section

Question or purpose of data field

Response

had an immediate prior

primary mission of promoting

community development.

- Governing or managing board

resolution.

- Owner resolution/directive.

PM09.2

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).

PM09.3

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.

- The document(s) is supplemented by

official governing leadership 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.

PM09.4

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 leadership meeting

minutes that clearly indicate the date

of the meeting at which the

document(s) was adopted.

Section

Question or purpose of data field

Response

- 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.

PM09.5

Enter the Applicant’s

immediate prior mission

exactly as stated in the

attached mission

documentation.

Enter mission statement(s).

PM09.6

For each type of document

presented as evidence of the

Applicant’s immediate prior

mission, enter the page

number(s) in that document

where the immediate prior

mission is articulated.

[The type(s) of document(s) presented as

evidence of current mission may be auto-

populated based on information entered in

PM09.1.]

Enter page number(s).

PM09.7

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

PM10

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, health care, social

services, workforce development).

- Promote community revitalization.

- Promote the availability of consumer

products/services.

“Community Facility” means a facility where health care, child care, educational, cultural, or social services are

provided.

Section

Question or purpose of data field

Response

- Promote the closure of the racial

wealth gap.

- Promote the creation of quality jobs.

- Promote business development.

- Promote increased energy, water,

and/or location efficiency.

- Promote financial inclusion and

access to affordable Financial

Services, particularly for the un- and

underbanked and/or in banking

deserts (depository institutions only).

- Other.

PM10.1

If “Other,” describe the

objective and explain why it

can be considered a

community development

objective.

Provide explanation.

PM11

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

PM10.]

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 health care centers

development.

- Commercial real estate development.

- Climate resilience.

- Reduced poverty and/or inequality.

- Credit-building.

- Financial stability.

- Other.

PM11.1

If “Other,” describe.

Provide description.

PM12

Does the Applicant have a board- or

owner-approved strategic plan that

Yes or No.

Section

Question or purpose of data field

Response

provides evidence of a community

development strategy?

If “Yes”:

PM12.1

Indicate how the document(s)

demonstrate governing board

or owner approval of the

Applicant’s strategic plan that

provides evidence of a

community development

strategy.

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 leadership 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.

PM12.2

Attach board- or owner-

approved strategic plan that

provides evidence of a

community development

strategy.

Attach document(s).

PM12.3

Identify the page number(s)

from the attached

document(s) where the

community development

strategy is articulated.

Enter page number(s).

If “No” (i.e., if the Applicant does not have

a board- or owner-approved strategic

plan, or if that strategic plan does not

clearly evidence a community

development strategy):

PM12.4

Attach a brief board- or

owner-approved narrative that

describes 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.

Attach narrative.

PM12.5

Indicate how the document(s)

demonstrate governing board

or owner approval of the

Select all that apply:

- The document(s) shows the date it

was adopted via the date it was

Section

Question or purpose of data field

Response

Applicant’s community

development outcomes

narrative.

signed.

- The document(s) is supplemented by

official governing leadership 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.

PRIMARY MISSION – APPLICANT – Responsible Financing Practices

PM13

Has the CDFI Fund provided the Applicant

with documentation of any amended

standards for responsible financing

practices applicable to the Applicant’s own

financing practices for the purpose of CDFI

Certification?

Yes, No, or N/A.

Questions PM14 through PM22 will be asked of Applicants that offer loan products (including credit

cards or purchased loans) only.

PM14

Do the Applicant’s underwriting

standards for each of its covered

mortgage, consumer, and/or small

business loan products include an

assessment of the borrower’s ability to

pay back 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 (except for any

final mortgage balloon payment)?

For the purposes of question PM14, the

Applicant should respond as it pertains to

all consumer and small business loans;

however, there are some exclusions for

mortgage loans. For purposes of this

question (PM14), a covered mortgage

loan product is limited to a consumer

credit transaction that is secured by a lien

on a single-family, owner-occupied

residence other than

(i) A reverse mortgage subject to 12

CFR 1026.33;

(ii) A temporary or “bridge” loan with a

term of 12 months or less, such as a

loan to finance the purchase of a

Yes, No, or N/A (i.e., does not offer covered

mortgage, consumer, or small business loan

products).

Section

Question or purpose of data field

Response

new dwelling where the consumer

plans to sell a current dwelling

within 12 months or a loan to

finance the initial construction of a

dwelling;

(iii) A construction phase of 12 months

or less of a construction-to-

permanent loan;

(iv) An extension of credit made

pursuant to a program

administered by a Housing Finance

Agency, as defined under 24 CFR

266.5;

(v) An extension of credit made

pursuant to a program

administered by the U.S.

Department of Housing and Urban

Development, the U.S. Department

of Veterans Affairs, or the U.S.

Department of Agriculture;

(vi) A transaction that does not require

payment of interest; or

(vii) A transaction made for the

purpose of foreclosure avoidance

or prevention.

PM14.1

If “No,” please explain how

the absence of consideration

of whether the borrower is

able to pay back each type of

loan serves a community

development purpose.

Provide narrative.

An Applicant that does not originate based

upon an assessment of whether a borrower

is able to pay back a loan may be determined

ineligible for CDFI Certification.

PM15

Does the Applicant originate, purchase

interests in, offer, arrange, 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 standard

Yes, No, or N/A (i.e., does not offer consumer

loan products).

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, arrange, market, or service

For additional guidance on calculating the MAPR, see the CFPB’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.

Section

Question or purpose of data field

Response

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.

PM15.1

What is the current highest

allowable MAPR charged on

any of the Applicant’s

consumer loans (including

credit cards and purchased

loans)?

Enter the highest allowable MAPR on any of

the Applicant’s consumer loan products.

Questions PM15.2 through PM15.7 – For any consumer loan product with an MAPR in

excess of 36%:

PM15.2

Did any of the consumer loan

products in question have an

annual default rate over 5%

during the 12 full months

immediately prior to

submission of the

Application?

Yes or No.

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM15.3

Do any of the consumer loans

in question include a

leveraged payment

mechanism?

Yes or No.

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM15.4

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, No, or N/A (i.e., does not offer loans of

$1,000 or less).

If “No,” the Applicant is not eligible for CDFI

Certification.

PM15.5

For a period of 12 full months

after the issuance of such a

consumer loan, does the

Applicant waive any upfront

fees for any refinance or new

loan issued to the same

borrower?

Yes or No.

If “No,” the Applicant is not eligible for CDFI

Certification.

PM15.6

Are all fees spread evenly over

the life of the loan and pro

rata refundable in the event of

early repayment (including

Yes or No, or N/A (i.e., does not offer

consumer installment loan products with an

MAPR in excess of 36%).

Calculate on a per borrower basis for single payment loans.

The CDFI Fund will rely on the CFPB’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).

Section

Question or purpose of data field

Response

through a refinance) for each

of the Applicant’s consumer

installment loan products in

question?

If “No,” the Applicant is not eligible for CDFI

Certification.

PM15.7

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 consumer

installment loan products in

question?

Yes or No, or N/A (i.e., does not offer

consumer installment loan products with an

MAPR in excess of 36%).

If “No,” the Applicant is not eligible for CDFI

Certification.

PM16

Does the Applicant originate, purchase

interests in, offer, arrange, 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, 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, arrange, market, or service

any small business loan products (including

credit cards or purchased loans) that allow

for an APR in excess of 36%.

PM16.1

What is the current highest

allowable APR charged on any

of the Applicant’s small

business loans (including

credit cards and purchased

loans)?

Enter the highest allowable APR on any of the

Applicant’s small business loan products.

Questions PM16.2 through PM16.6 – For any small business loan product with an APR in

excess of 36%:

PM16.2

Did any of the small business

loan products in question have

an annual default rate over 5%

during the 12 full months

immediately prior to

submission of the

Application?

Yes or No.

PM16.3

Do any of the small business

loans in question include a

Yes or No.

Calculate on a per borrower basis for single payment loans.

Section

Question or purpose of data field

Response

leveraged payment

mechanism?

PM16.4

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 small

business installment loan

products in question?

Yes or No, or N/A (i.e., does not offer small

business installment loan products with an

APR in excess of 36%).

PM16.5

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 small

business installment loan

products in question?

Yes or No, or N/A (i.e., does not offer small

business installment loan products with an

APR in excess of 36%).

PM16.6

If the Applicant responded

“Yes” to either PM16.2 or

PM16.3, or responded “No” to

either PM16.4 or PM16.5,

describe why the small

business loan product should

be considered consistent with

an acceptable community

development mission.

Provide narrative.

An Applicant that offers a small business loan

product with an APR in excess of 36% and

responded “Yes” to either question PM16.2

or PM16.3, or responded “No” to either

PM16.4 or PM16.5 may be determined

ineligible for CDFI Certification.

PM17

For each of the Applicant’s small business

loan products, does the Applicant disclose

in writing:

PM17.1

The periodic payment due?

Yes, No, or N/A (i.e., does not offer small

business loan products).

PM17.2

The total amount to be repaid

over the life of the loan?

Yes, No, or N/A (i.e., does not offer small

business loan products).

PM17.3

The total finance charges over

the life of the loan?

Yes, No, or N/A (i.e., does not offer small

business loan products).

The CDFI Fund will rely on the CFPB’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).

Beginning January 1, 2026, new Applicants that offer 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 APR of the loan will be ineligible for CDFI Certification. Certified CDFIs that offer

small business loan products will be required to attest in their ACR to making such disclosures no later than

October 1, 2026, in order to maintain their certification.

Section

Question or purpose of data field

Response

PM17.4

The annual percentage rate of

the loan?

Yes, No, or N/A (i.e., does not offer small

business loan products).

PM18

If the Applicant is a non-depository

institution, does the Applicant originate,

purchase interests in, offer, arrange,

market, or service loans that exceed the

interest limits that apply to non-

depository institutions in the state where

the borrower resides?

Yes, No, or N/A (i.e., Applicant is a depository

institution).

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM19

For purposes of this question, PM19, a

covered mortgage loan product is limited

to a consumer credit transaction that is

secured by a lien on a single-family,

owner-occupied residence other than

(i) Transactions secured by a

subordinate lien;

(ii) A reverse mortgage subject to 12

CFR 1026.33;

(iii) A temporary or “bridge” loan

with a term of 12 months or less,

such as a loan to finance the

purchase of a new dwelling

where the consumer plans to sell

a current dwelling within 12

months or a loan to finance the

initial construction of a dwelling;

(iv) A construction phase of 12

months or less of a construction-

to-permanent loan;

(v) An extension of credit made

pursuant to a program

administered by a Housing

Finance Agency, as defined under

24 CFR 266.5;

(vi) An extension of credit made

pursuant to a program

administered by the U.S.

Department of Housing and

Urban Development, the U.S.

Department of Veterans Affairs,

or the U.S. Department of

Agriculture;

(vii) A transaction that does not

require payment of interest;

(viii) A transaction made for the

purpose of foreclosure avoidance

or prevention; or

Section

Question or purpose of data field

Response

(ix) For PM19.2 (loans with interest-

only payments) and PM19.3

(loans with balloon payments)

only, a transaction with a

payment schedule that is

adjusted to the seasonal or

irregular income of the consumer.

For each of the Applicant’s covered

mortgage loan products, does the

Applicant:

PM19.1

Offer covered mortgage loans

that include negative

amortization?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM19.2

Offer covered mortgage loans

that include interest-only

payments?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM19.3

Offer covered mortgage loans

that include balloon

payments?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “Yes”:

PM19.3a

Do the covered

mortgage loans

meet the criteria

set forth in 12 CFR

§§ 1026.43(f)(1)(i)

-(vi)?

Yes or No.

PM19.3b

If the Applicant

renews the loan at

the time the

balloon payment

is due, does the

new loan retain

the original

amortization

period?

Yes or No.

PM19.3c

If the Applicant

renews the loan at

the time the

Yes or No.

A balloon payment is a payment that is more than two times a regular periodic payment.

Section

Question or purpose of data field

Response

balloon payment

is due, does the

Applicant (as

permitted by

regulation) waive

the need for a

new appraisal and

limit application

and origination

fees?

PM19.3d

If the Applicant

responded “No”

to any of the

questions

PM19.3a through

PM19.3c, please

describe how such

loans are

advantageous to

the borrower, any

additional

protections that

limit potential

harm to the

borrower, and

why the loan

should be

considered

consistent with an

acceptable

community

development

mission.

Provide narrative.

An Applicant that offers covered mortgage

loan products that include balloon payments

and responded “No” to any of the questions

PM19.3a through PM19.3c may be

determined ineligible for CDFI Certification.

PM19.4

Underwrite adjustable-rate

covered mortgages at less

than the maximum rate in the

first five years?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM19.5

Offer covered mortgage loans

with an original maximum

term longer than 30 years?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

PM19.5a

If “Yes,” for any

covered mortgage

loans with an

original term

longer than 30

Provide narrative.

An Applicant that offers covered mortgage

loan products with an original maximum

term longer than 30 years may be

Section

Question or purpose of data field

Response

years, what is the

maximum term

allowable, and

describe why the

loan should be

considered

consistent with an

acceptable

community

development

mission.

determined ineligible for CDFI Certification.

PM19.6

Verify the income or assets of

the borrower of a covered

mortgage loan product?

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “No,” the Applicant is not eligible for CDFI

Certification.

PM19.7

Charge upfront points and fees

on a covered mortgage loan

product in excess of the

Qualified Mortgage limits

Yes, No, or N/A (i.e., does not offer covered

mortgage loan products).

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM20

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 forbearance.

- Principal forgiveness.

- Other.

- None.

PM20.1

If “Other,” please describe.

Provide description.

PM21

Does the Applicant sell its charged-off

consumer or small business debt to debt

buyers?

Yes or No.

If “Yes,” the Applicant is not eligible for CDFI

Certification.

PM22

If the Applicant is an FDIC-insured

depository institution, 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 PM23 and PM24 will be asked only of Applicants that offer Equity Investment Financial

Products.

PM23

Does the Applicant have a policy or

practice in place for its Equity Investment

Yes, No, or N/A (i.e., does not offer equity

products).

The Qualified Mortgage limits on upfront points and fees are adjusted annually for inflation on January 1.

See § 1026.43(e)(3) and Comment 43(e)(3)(ii)-1 for the annual limits.

Section

Question or purpose of data field

Response

Financial Products 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?

If “No,” the Applicant is not eligible for CDFI

Certification.

PM24

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?

Yes, 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 PM25 through PM27 will be asked of depository institution Applicants only.

PM25

Select each of the listed features

associated with a single checking or share

account (including checkless checking)

offered by the Applicant (i.e., only select

the features that are offered as part of the

same account; if other features are

offered by the Applicant in different

accounts, do not include).

Select all that apply:

- Free access to debit card network for

point of sale and bill payment.

- Minimum opening deposit of $25 or

less.

- Monthly maintenance fee of $5 or

less if not waivable, or $10 or less if

waivable.

- No overdraft or nonsufficient funds

fees.

- 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.

For monthly maintenance fee to be considered waivable, the 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).

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’s account has insufficient or unavailable funds.

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’s account has insufficient or unavailable

funds.

Section

Question or purpose of data field

Response

- 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.

- 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) 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.

PM25.1

Identify the checking or share

account that includes each of

the selected features.

Name account.

PM26

For any of the Applicant’s depository

accounts, is the account holder subject to

any potential overdraft fees?

Yes or No.

If “Yes”:

PM26.1

Specify the highest dollar

amount charged for such a

fee.

Enter number.

PM26.2

Can such fees exceed the

amount of the item being

cleared?

Yes or No.

PM26.2a

If “Yes”:

Describe why such

fees should be

considered

reasonable and

Provide narrative.

An Applicant that charges overdraft fees in

excess of the amount of the item being

cleared may be determined ineligible for CDFI

Certification.

Section

Question or purpose of data field

Response

proportionate to

the amount of the

item being cleared

and consistent

with an

acceptable

community

development

mission.

PM26.3

Specify any daily limits on the

number and frequency of such

fees that can be charged to an

account holder.

Enter number.

PM26.4

Specify any annual limits on

the number and frequency of

such fees that can be charged

to an account holder.

Enter number.

PM26.4a

If an account

holder may be

charged such fees

on more than six

occasions in a

rolling 12-month

period, describe

why such fees

should be

considered

consistent with an

acceptable

community

development

mission.

Provide narrative.

An Applicant that charges overdraft fees on

more than six occasions in a rolling 12-month

period may be determined ineligible for CDFI

Certification.

PM26.5

Select each of the listed

features included in the

Applicant’s overdraft program.

Select all that apply:

- No overdraft fees on debit card

purchases.

- 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.

Section

Question or purpose of data field

Response

- 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.

- No transfer fees on overdraft

transfers from savings or from a

credit account.

- Other.

- None.

PM26.5a

If “Other,”

describe the

feature included

in the Applicant’s

overdraft

program.

Provide narrative.

PM27

For any of the Applicant’s depository

accounts, is the account holder subject to

any potential nonsufficient funds (NSF)

fees?

Yes or No.

If “Yes”:

PM27.1

Specify the highest dollar

amount charged for such a

fee.

Enter number.

PM27.2

Can such fees exceed the

amount of the item returned

unpaid?

Yes or No.

PM27.2a

If “Yes”:

Describe why such

fees should be

considered

reasonable and

proportionate to

the amount of the

item being

returned unpaid

and consistent

with an

acceptable

community

development

Provide narrative.

An Applicant that charges NSF fees in excess

of the amount of the item returned unpaid

may be determined ineligible for CDFI

Certification.

Section

Question or purpose of data field

Response

mission.

PM27.3

Specify any daily limits on the

number and frequency of such

fees that can be charged to an

account holder.

Enter number.

PM27.4

Can such fees be charged

more than once for the same

transaction, regardless of

whether the item is re-

presented?

Yes or No.

PM27.4a

If “Yes,” describe

why such fees

should be

considered

consistent with an

acceptable

community

development

mission.

An Applicant that charges NSF fees more

than once for the same transaction may be

determined ineligible for CDFI Certification.

PM27.5

Specify any annual limits on

the number and frequency of

such fees that can be charged

to an account holder.

Enter number.

PM27.6

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 or near real-time

balance information provided.

- NSF fees collected from a consumer’s

next deposit only after other items

have been posted or cleared.

- Consumer’s checking account linked

to another account for NSF

protection.

- No transfer fees on NSF transfers

from savings or from a credit

account.

- Other.

- None.

PM27.6a

If “Other,”

describe the

feature included

in the Applicant’s

NSF policies.

Provide narrative.

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

Section

Question or purpose of data field

Response

Documentation and Responsible Financing Practices questions.

PM28

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.

FINANCING ENTITY

The CDFI Fund’s regulations state that “a CDFI shall be an entity whose predominant business activity is

the provision, in arm’s-length transactions, of Financial Products and/or Financial Services.”

To meet

the CDFI Certification Financing Entity test, an Applicant must demonstrate the following:

- The predominance of its assets are derived from or dedicated to, and the predominance of its

staff time is dedicated 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 with all other amounts.)

- Its predominant business activity is the provision of Financial Products and/or Financial

Services

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 has begun closing arm’s-length, on-balance sheet Financial Products and/or has delivered

Financial Services.

- It has or will have access to sufficient capital to close at least one new Financial Product

transaction during the upcoming three months from the date the CDFI Certification Application

is submitted.

Entities participating in the CDFI Fund’s CDFI 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:

- DIHCs

- Depository institutions with FDIC deposit insurance

12 CFR § 1805.201(b)(2).

Only depository institutions (bank/thrifts, credit unions or bank/thrift holding companies) may use Financial

Services to meet the Financing Entity test.

- Depository Institutions with NCUA share insurance

- State-Insured Credit Unions (includes state-regulated credit unions)

CDFI Certification Provision for Spin-off Entities

To fulfill 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 Spin-off entity must demonstrate

that it closed at least one Financial Product within the 12 months prior to submission of this Application

and must meet the additional following conditions:

- be a separate legal entity;

- have received a transferred Financial Product portfolio from at least one original Affiliate

entity;

- demonstrate that it currently offers at least one of the transferred Financial Products;

- 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 immediately prior to

submission of this Application;

- demonstrate that at least one original Affiliate entity from which it received a Financial

Products portfolio had an acceptable primary mission in place for at least the six full months

immediately prior to submission of this Application; and

- 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 Spin-off 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

Financial Products

Financial Products that can be used to demonstrate compliance with the Financing Entity requirements

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’s 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);

- lines of credit; and

- credit cards.

“Financial Products and Financial Services” are defined by the CDFI Fund in the CDFI Program Revised Interim

Regulations, 12 CFR Part 1805.104

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 of the CDFI Certification requirements, it must obtain

prior approval from the CDFI Fund to do so.

Financial Services

Financial Services can be used to meet the CDFI Certification requirements by depository institutions

only.

Financial Services that can be used to demonstrate compliance with the Financing Entity requirements

include the holding of checking, savings, and money market accounts and the provision of check cashing,

money orders, 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 to do so.

ASSETS DEDICATED TO OR DERIVED FROM 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 (i.e., the financial statement[s] must show the Applicant’s

activity separate and independent of any other entities), fiscal year-to-date balance sheet. 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, and accounts receivable.

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; or

- 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.

Consistent with CDFI Fund regulations,

the CDFI Fund does not consider the following types of

activities as assets or staff time that support the direct provision of Financial Products and/or Financial

Services:

- Real estate development

- Property management

- Financing for affiliated 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

The predominance of an Applicant’s staff time must be dedicated and allocated toward the direct

provision of eligible financing activities. Unless otherwise directed, the staffing information provided in

the Financing Entity section of the Application should be based on only the Applicant’s staffing levels

and activities.

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 full-time equivalent 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.

Examples of activities considered to be directed toward the direct provision of Financial Products and/or

Financial Services include

- 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; and

- fundraising/raising capital for the provision of Financial Products and/or Financial Services.

12 CFR § 1805.201(b)(2).

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 with 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. 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 assets 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 the Applicant 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 maintains sole

discretion to determine the applicability of such assets and/or staff time in meeting the Financing Entity

test.

Types of major assets and activities that may be disregarded as counting toward the predominance test

include

- endowments held by Applicants 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 Applicants 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 Applicants because it was donated and the Applicant 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).

- staff time dedicated to the provision of Development Services.

Applicants that continue to appear not to meet the Financing Entity predominance requirement, after

providing asset and staff time data, will have the opportunity to explain why they should be considered

a financing entity.

The Applicant must obtain prior approval from the CDFI Fund to exclude any major assets and/or staff

time for any related financing activity not included above.

Obtaining Determination to Disregard or Include Major Assets and/or Staff Time to Meet Financing

Entity Predominance Requirements

Applicants that seek to disregard or include major assets and/or staff time dedicated to or derived from

the provision of Financial Products and/or Financial Services that are not currently recognized as

qualified or eligible to be disregarded or included for the purpose of the Financing Entity predominance

test must be approved by a determination from the CDFI Fund before they will be considered as those

assets and/or staff time that may be disregarded or included for the purpose of the meeting Financing

Entity requirement test.

To request consideration to disregard or include any major assets and/or staff time, Applicants must

provide the following information for the CDFI Fund’s consideration in advance of an Application

submission:

- a description of the major asset(s) and/or staff time to be disregarded or included;

- the dollar amount for the portion of the balance sheet line item(s) to be disregarded or included

and the name of the balance sheet line item(s);

- the average FTE staff time to be disregarded or included;

- how the amount of the asset(s) and/or staff time to be disregarded or included was determined;

- if seeking to disregard any major asset(s) and/or staff time, why such asset(s) and/or staff time

incorrectly appear to indicate that the Applicant is not predominately a financing entity or, if

seeking to include any major asset(s) and/or staff time, why the asset(s) and/or staff time is

essential for the Applicant to conduct its Financial Product and/or Financial Services activity; and

- a copy of the Applicant’s most recently completed fiscal year financial statements and current

fiscal year-to-date balance sheet.

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,

or will have access to, enough capital available to close at least one Financial Product transaction during

the upcoming 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; 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-G1

If the Applicant has indicated that it is seeking to use the CDFI Certification BG Program

provision:

FE-G1.1

Is the Applicant Controlled by a

Certified CDFI that has a date of

Yes or No.

Section

Question or purpose of data field

Response

incorporation/organization/

establishment at least 12 full

months prior to submission of this

CDFI Certification Application?

FE-G1.2

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-G2

Do the Applicant’s financial statements and current

fiscal year-to-date 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-G3

Attach financial statements for Applicant’s most

recently completed fiscal year with non-

consolidated balance sheet information.

Attach required document(s).

FE-G4

Attach financial statements with non-consolidated

balance sheet information for Applicant’s current

fiscal year-to-date.

Attach required document(s).

FINANCING ENTITY – APPLICANT ONLY – ASSET PREDOMINANCE – NON-CONSOLIDATED CURRENT

FISCAL YEAR-TO-DATE ASSET 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 only the Applicant’s current

fiscal year-to-date total assets.

FE-A2

Does the Applicant request that any of its assets

(as indicated by the Applicant’s non-consolidated

current fiscal year-to-date balance sheet) be

disregarded for the purposes of the Financing

Entity predominance test?

Yes or No.

If “No,” skip to FE-A3.

If “Yes”:

FE-A2.1

Identify the line item for the asset

held by the Applicant in the non-

consolidated current fiscal year-to-

date balance sheet for which it

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

provision of Financial

Products and/or Financial

Section

Question or purpose of data field

Response

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 toward meeting the

Financing Entity predominance test.

FE-A2.2c

Attach disregarded

asset 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

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

to or derived from the direct provision of eligible 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

Select one:

Section

Question or purpose of data field

Response

being dedicated to or derived from

the direct provision of eligible

Financial Products and/or Financial

Services.

- Cash dedicated to or

derived from the direct

provision of eligible

Financial Products and/or

Financial Services.

- Cash equivalents dedicated

to or derived from the

direct provision of eligible

Financial Products and/or

Financial Services.

- Portion of owned building

from which revenue is

generated that supports the

direct provision of eligible

Financial Products and/or

Financial Services.

- Portion of owned

equipment used for the

direct provision of eligible

Financial Products and/or

Financial Services.

- Receivables derived from

the direct provision of

eligible Financial Products

and/or Financial Services.

- Other.

If “Other”:

FE-A3.2a

Identify the asset

source or committed

use that qualifies it as

being dedicated to or

derived from the direct

provision of eligible

Financial Products

and/or Financial

Services.

Enter activity.

FE-A3.2b

Has this asset been

pre-approved by the

CDFI Fund as being

dedicated to or derived

from the direct

provision of Financial

Products and/or

Financial Services?

Yes or No.

If “No,” the asset will not qualify

toward meeting the predominance

test.

FE-A3.3

Indicate the dollar amount for the

portion of the line item that is

Enter dollar amount.

Section

Question or purpose of data field

Response

dedicated to or derived from the

direct provision of eligible Financial

Products and/or Financial Services.

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 or derived from 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/

origination/

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.

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

Enter explanation.

Section

Question or purpose of data field

Response

determined.

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 or derived from

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

Loan packaging/origination/

servicing for financing provided by

another entity(ies).

[Auto-calculated.]

(Based on entries in FE-A4.)

FE-A5.7

Grant making.

[Auto-calculated.]

(Based on entries in FE-A4.)

FE-A5.8

Development Services.

[Auto-calculated.]

(Based on entries in FE-A4.)

FE-A5.9

Training, counseling, and/or

technical assistance that does not

qualify as Development Services.

[Auto-calculated.]

(Based on entries in FE-A4.)

FE-A5.10

Other.

[Auto-calculated.]

(Based on entries in FE-A4.)

FE-A5.11

Total.

[Auto-calculated.]

(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 or derived

from the direct provision of Financial Products

and/or Financial Services, explain why the

Applicant should nevertheless be considered

Provide explanation.

Section

Question or purpose of data field

Response

predominantly a Financing Entity.

FINANCING ENTITY – APPLICANT ONLY – STAFFING PREDOMINANCE

Section

Question or purpose of data field

Response

FE-AS1

Applicant’s average total full-time equivalent staff

for the 12 months immediately prior to the

submission of the CDFI Certification Application.

Enter Average Total FTE Staff.

FE-AS2

Does the Applicant request that the use of any of

its FTE staff be disregarded for the purposes of the

Financing Entity predominance test?

Yes or No.

If “No,” skip to FE-AS3.

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:

- Development Services.

- 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 Services.

- 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.

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

Yes or No.

Section

Question or purpose of data field

Response

Entity predominance

test?

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 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 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.

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

for which some or all of

the staff time used in

that manner qualifies

as being dedicated to

the provision of

Financial Products

and/or Financial

Services for the

purposes of the CDFI

Certification Financing

Entity predominance

test?

Yes or No.

FE-AS3.1c

Attach approval letter.

Attach financing-related activity

approval letter(s) from the CDFI Fund.

Section

Question or purpose of data field

Response

FE-AS3.2

Indicate the average amount of

overall FTE staff dedicated 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.

- Training, counseling, and

technical assistance that does

not qualify as Development

Services.

- Other.

FE-AS4.1a

If “Other,” describe.

Enter description.

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 is 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 Development Services

FTE staff.

[Auto-calculated.]

(Based on entries in FE-AS2.)

FE-AS5.2

Other disregarded FTE staff.

[Auto-calculated.]

Section

Question or purpose of data field

Response

(Based on entries in FE-AS2.)

FE-AS5.3

FTE staff dedicated to or derived

from the direct provision of

Financial Products and/or Financial

Services.

[Auto-calculated.]

(Based on entries in FE-AS3.)

FE-AS5.4

Real estate development.

[Auto-calculated.]

(Based on entries in FE-AS4.)

FE-AS5.5

Property management.

[Auto-calculated.]

(Based on entries in FE-AS4.)

FE-AS5.6

Ineligible financing to Affiliated

individuals or entities.

[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

Training, counseling, and technical

assistance that does not qualify as

Development Services.

[Auto-calculated.]

(Based on entries in FE-AS4.)

FE-AS5.10

Other.

[Auto-calculated.]

(Based on entries in FE-AS4.)

FE-AS5.11

Average Total FTE Staff.

[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 DURING

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

Enter dollar amount.

Section

Question or purpose of data field

Response

Application.

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.

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.

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

Narrative.

Section

Question or purpose of data field

Response

committed.

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.

TARGET MARKET

To be a Certified CDFI, an Applicant 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 either the dollar volume or

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) and that it delivers to one or

more eligible Target Market(s) at least

- 60% number of Financial Products and 50% dollar volume of Financial Products; or

- 50% number of Financial Products and 60% dollar volume of Financial Products.

New CDFI Applicants must meet the applicable Target Market percentage benchmarks over their most

recently completed fiscal year prior to submission of the Application.

New CDFI Applicants must meet the applicable Target Market percentage benchmarks over their most

recently completed fiscal year prior to submission of the Application. If an Applicant’s financing activity

in its submitted TLR data falls below the required level for any of the applicable Target Market

percentage benchmarks, the Applicant will not be eligible for CDFI Certification. The benchmarks must

be met as stated without any rounding of decimal points.

To meet the Target Market requirements, an Applicant may serve multiple eligible Target Markets. (For

example, an Applicant may demonstrate compliance with the Target Market percentage benchmarks by

serving both an Investment Area and one or more Targeted Populations.) However, for the purposes of

calculating the overall Target Market percentage of an Applicant’s financing activity, each Financial

Product transaction or Financial Service item shall be counted toward only one Target Market

component, which shall be identified by the Applicant or Certified CDFI (even if the transaction or

account qualifies as having been directed to more than one Target Market component).

To maintain Certification, Certified CDFIs must demonstrate compliance with the Target Market

percentage benchmarks each fiscal year. To confirm a CDFI continues to direct Financial Products and/or

Financial Services to its approved Target Market at the required levels, transaction level data will be

reviewed annually, through the submission of a TLR, in connection with the ACR. After initial

Certification (or recertification) through this Application and a Certified CDFI’s first two ACR submissions,

a Certified CDFI that fails to meet the Target Market benchmarks, based on its Financial Products and/or

Financial Services activity, over its most recently completed fiscal year may maintain its Certification by

demonstrating that it met the benchmarks over a three-year period through the last day of its most

recently completed fiscal year—as measured by the data submitted in the CDFI’s three most recent

TLRs, including as part of its Certification Application, if necessary. (A Certified CDFI that fails to meet the

Target Market benchmarks for the previous fiscal year in its first ACR submission will have the option to

be evaluated over a two-year period through the last day of its most recently completed fiscal year.)

Certified CDFIs that still fall below the Target Market benchmarks over three full fiscal years of financing

activity in their TLR (or over two full fiscal years for those with less than two years of Certification under

this Application) will be decertified, and no additional cure period will be granted.

Note: Only data submitted as part of this Certification Application, the new abbreviated TLR, and/or

the December 2023 version of the CDFI/NACA/RRP TLR may be used to meet the Target Market

benchmarks over a three-year period (i.e., data submitted as part of a previous Certification

Application, ACR, or earlier version of the CDFI/NACA/RRP TLR, may not be used for this option).

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.

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 that do not directly provide Financial Products or Financial Services may rely on the activity of all

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 identify the Affiliate’s Financial Product(s)

and, if elected, Financial Services activity of all covered Affiliates that will be used to satisfy the DIHC’s

TLR requirement. (This data will be aggregated to avoid duplication of TLR records.)

Entities participating in the CDFI 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)).

Spin-offs

If an entity is eligible for the CDFI Certification provision for Spin-offs (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

(This includes 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 Spin-off’s balance sheet as of the end of that fiscal year); and

- any depository accounts held by the Spin-off entity that were still open as of the end of the

entity’s most recently completed fiscal year.

An entity spun off from a Certified CDFI is not eligible for this provision.

ELIGIBLE TARGET MARKETs

An entity’s Target Market can be composed of one or more of the following Target Market components

listed in this section under “Investment Area” and “Targeted Population.”

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 it is 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]).

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 three types of Investment Areas (IAs):

(1) 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.

(2) Customized Investment Areas

Applicants may also 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 or non-Metro

counties or parishes;

and

- validate as a distressed community per the CDFI Fund’s mapping system (CIMS) 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 of the customized

Investment Area to count toward the 60% Target Market benchmark. The Applicant must use the

CDFI Fund’s approved Target Market assessment methodologies to demonstrate that it is serving

the customized Investment Areas.

(3) Non-Metro Customized Investment Areas, Counties, and Parishes

Prior to October 1, 2026, an Applicant that serves a non-Metro customized Investment Area,

county, or parish also must direct at least 75% of its non-Metro customized Investment Area,

“Non-Metro” or “Non-Metropolitan” refers to any area that does not qualify as a Metropolitan Statistical Area,

which is defined by the Office of Management and Budget (OMB) as “at least one urbanized area of 50,000 or

more population, plus adjacent territory that has a high degree of social and economic integration with the core as

measured by commuting ties.” https://www.whitehouse.gov/wp-content/uploads/2020/03/Bulletin-20-01.pdf

Per 12 CFR § 1805.201(b)(3)(2)(B), “geographic units in Metropolitan Areas that are used to comprise an

Investment Area shall be limited to census tracts, and Indian Reservations.”

A non-Metro customized Investment Area must consist exclusively of non-Metro geographic units.

county, or parish Financial Product and/or Financial Services activity within the individually

qualified census tracts of the respective non-Metro geography for activity in the non-qualifying

tracts of the non-Metro geography to count toward the 60% Target Market benchmark.

Beginning October 1, 2026, an Applicant that serves a non-Metro customized Investment Area,

county, or parish must direct at least 85% of its non-Metro customized Investment Area, county,

or parish Financial Products and/or Financial Services activity within the individually qualified

census tracts of the respective non-Metro geography for activity in the non-qualifying tracts of

the non-Metro geography to count toward the 60% Target Market benchmark. The Applicant

must use the CDFI Fund’s approved Target Market assessment methodologies to demonstrate

that it is servicing the non-Metro customized Investment Area(s), counties, and/or parishes.

Targeted Population

“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 socioeconomic characteristics are used to determine

inclusion in the Target Market. The Applicant must use the CDFI Fund’s approved Target Market

assessment methodologies to demonstrate that it serves the Targeted Population.

Targeted Populations include Low-Income Targeted Populations (LITP) and Other Targeted Populations

(OTP):

LITP

Individuals qualify as members of the Low-Income Targeted Population 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).

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.

- Other Targeted Population – Native Alaskan.

- Other Targeted Population – Native Hawaiian.

- Other Targeted Population – Other Pacific Islander.

- Other Targeted Population – Filipino.

- Other Targeted Population – Vietnamese.

- Other Targeted Population – Persons with Disabilities.

- Other Targeted Population – Certified CDFIs.

Obtaining Determination for Additional Targeted Populations

Those Targeted Populations not currently accepted by the CDFI Fund must first 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 approval for a new Targeted Population, Applicants must provide the following information for

the CDFI Fund’s consideration in advance of an Application submission:

- a name and description of the Targeted Population;

- the geographic location of the Targeted Population intended to be served (e.g., national,

statewide, specific census tracts). Unless “national,” include a map generated in the CDFI

Information Mapping System depicting the geography to be served;

- a narrative that demonstrates that the specific Targeted Population(s) has significant unmet

capital or Financial Services needs;

- if the Applicant serves the members of the Targeted Population directly or indirectly or through

borrowers or investees that serve such members; and

- specific evidence showing the proposed Targeted Population has disparities, controlling for

poverty and income effects, in their access to Financial Products and Services for the geographic

population service area.

MAPPING REQUIREMENTS

Target Market maps are required for all customized Investment Area Target Market components and

certain Other Targeted Populations.

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. Through CIMS, Applicants are able to upload and process the accurate batch

geocoding 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 Non-Metro

counties/parishes, 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 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. In the case of active, outstanding loan purchases, data on Financial Product activity should be

based on the date the bundle of loans was 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 accepts loan purchases from Certified CDFIs and Target Market loans purchased from

non-Certified CDFI entities as Financial Products. Loan Purchases should be presented for review in

connection with the Target Market requirements as follows:

- Loan Purchases from Certified CDFIs, whether purchased individually or in a bundle, are

recognized as Financial Products directed to an “OTP – Certified CDFIs” Target Market. Each

bundled Loan Purchase from a Certified CDFI will count as a single Financial Product transaction.

- Target Market loans purchased from non-Certified CDFI entities are recognized as Financial

Products directed to the Target Market(s) of the original borrowers. Applicants that purchase

Target Market loans from non-Certified CDFI entities in a bundle may count each of the

purchased loans as a single Financial Product transaction.

Obtaining Determination for Other Target Market Assessment Methodologies

A Target Market assessment methodology or combination of such methodologies must be used to verify

whether 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 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 approved methodologies, including the use of programmatic proxy assessments, must provide

the following information for the CDFI Fund to consider in advance of completing their Application for

submission:

- the applicable Target Market (i.e., Investment Area, Low-Income Targeted Population, or Other

Targeted Population).

- assessment methodology (e.g., description of methodology and/or model design, including the

step-by-step process used to collect the data, review any documents, and/or run the model and

process its results).

- supporting or supplemental documentation.

- description of how the proposed assessment methodology provides sufficient confidence that a

transaction can be assigned to a specific Target Market.

- if proposing a programmatic proxy, the program’s detailed eligibility criteria or the step-by-step

process used to compare programmatic data to CDFI Fund definitions (e.g., income sources,

income thresholds).

- the process for recordkeeping.

- the process for updating any methodology dependent on underlying data changes.

All Target Market assessment methodologies—whether from the list of approved methodologies or

allowed to present separately—must be used exactly as prescribed, unless and until modification of the

process is authorized by the CDFI Fund. Failure to use an approved assessment methodology (or

maintain required documentation) may result in the termination of a Certified CDFI’s certification.

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.

- Investment Area – Non-

Section

Question or purpose of data field

Response

Metro Customized.

- Investment Area – Non-

Metro counties/parishes.

- Low-Income Targeted

Population.

- Other Targeted Population

– African American.

- Other Targeted Population

– Hispanic.

- Other Targeted Population

– Native American.

- Other Targeted Population

– Native Alaskan.

- Other Targeted Population

– Native Hawaiian.

- Other Targeted Population

– Other Pacific Islander.

- Other Targeted Population

– Filipino.

- Other Targeted Population

– Vietnamese.

- 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 and Non-Metro

counties/parishes.

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:

- Consumer loans.

- Non-real estate business

loans.

- Non-Real Estate

Microenterprise loans.

- Equity Investments.

- Home purchase loans.

- Home Improvement loans.

- Real estate –

Section

Question or purpose of data field

Response

Construction/Permanent/

Acquisition w/o Rehab

Commercial loans.

- Real estate –

Construction/Housing

Multi-Family loans.

- Real estate –

Construction/Housing

Single-Family loans.

- Real estate –

Rehabilitation–

Commercial.

- Real estate –

Rehabilitation/Housing

Multi-Family rehab loans.

- Real estate –

Rehabilitation/Housing

Single-Family rehab 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

significant need for the Financial

Products and/or Financial Services

identified within the Investment Area

and that they are not currently available

at sufficient levels to meet the existing

need.

Provide narrative.

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.

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

Section

Question or purpose of data field

Response

Market component.

TM06

Does the Applicant propose to use the Financial

Services option to meet the required Target Market

activity threshold?

Yes or No.

TM07

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.

TM08

Identify the Target Market assessment

methodology(ies) used by the Applicant.

Select all that apply:

- OTP-AA.1: Self-Report.

- OTP-AA.2:

Visual/Surname.

- OTP-Hisp.1: Self-Report.

- OTP-Hisp.2:

Visual/Surname.

- OTP-Native American.1:

Self-Report.

- OTP-Native American.2:

Tribal Identification

Verification.

- OTP-Native Alaskan.1:

Self-Report.

- OTP-Native Alaskan.2:

Tribal Identification

Verification.

- OTP-Native Hawaiian.1:

Self-Report.

- OTP-Native Hawaiian.2:

Origins Identification

Verification.

- OTP-Pacific Islander.1:

Self-Report.

- OTP-Filipino.1: Self-Report.

- OTP-Vietnamese.1: Self-

Report.

- OTP-PWD.1: Self-Report.

- OTP-PWD.2:

Visual/Auditory/

Documentation.

- OTP-PWD.3: Technology/

Accessibility.

- OTP-Certified CDFI.1:

Section

Question or purpose of data field

Response

Certified CDFI.

- LITP.1: Documented Full

Family Income.

- LITP.2: Programmatic

Proxy.

- LITP.3: Self-Reported

Family Income.

- LITP.4: Documented

Underwriting Income and

Default Family Size.

- LITP.5 Organization Proxy.

- IA.1: Residence.

- IA.2: Project/Service.

- Separately approved

assessment methodology.

TM08.1

If “LITP.2” (programmatic proxy),

identify the Low-Income programmatic

proxy.

Select all that apply:

- Child and Adult Care Food

Program (CACFP).

- Children’s Health

Insurance Program (CHIP).

- Food Distribution Program

on Indian Reservations

(FDPIR).

- Head Start Program.

- HOME Investment

Partnership Program

(HOME).

- HUD Public Housing.

- HUD Section 8 Housing

Choice Voucher Program.

- Job Corps Program.

- Lifeline Discounted Phone

Program.

- Medicaid Program.

- National School Lunch

Program (NSLP).

- Pell Grants for Higher

Education.

- School Breakfast Program

(SBP).

- Social Security Disability

Insurance (SSDI).

- Special Supplemental

Nutrition Program for

Woman, Infants, and

Children (WIC).

- Summer Food Service

Section

Question or purpose of data field

Response

Program (SFSP).

- Supplemental Nutrition

Assistance Program

(SNAP)/Food Stamps.

- Supplemental Security

Income (SSI).

- Temporary Assistance for

Needy Families (TANF).

- USDA Single Family

Housing Direct Home

Loans (Section 502 Direct

Loan Program).

TM08.2

If “LITP.5” (Organization Proxy), identify

the Low-Income organization proxy.

Select all that apply:

- Federal Qualified Health

Centers (FQHC).

- Free and Charitable Clinics.

- Homeless Service

Providers.

- Rural Health Clinics (RHC).

- School-Based Health

Centers (SBHC).

TM08.3

If “Separately approved assessment

methodology”:

TM08.3a

Identify the name of the

Target Market assessment

methodology(ies) that was

separately approved by CDFI

Fund.

Enter Name.

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 BI-

FP03.]

TM-G02

Does the Financial Product activity data include any

other similar financing that does not appear on the

approved list of Financial Products?

[Auto-populated based on

response to BI-FP04.]

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

Select all that apply:

- Savings/Share Accounts.

- Checking Accounts.

Section

Question or purpose of data field

Response

prior to submission of the CDFI Certification

Application.

- Certificates of Deposit.

- Money Market

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 amount, 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 toward the 60%

requirement. 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.

(Simulated Table – actual display in AMIS may differ)

Target Market Table 1: Financial Products Test

Proposed Target Market

Components

Percentage of Target Market

Financial Products – Number

Percentage of Target Market

Financial Products – Dollar

Volume

[Auto-display each separate

TM component by row.]

[Auto-calculated.]

Total Target Market Activity

[Auto-calculated.]

Target Market threshold met?

[Auto-display – Yes or No.]

Depository Institutions selecting the option to use Financial Services to meet the Target Market test

because either their Target Market Financial Product dollar volume or their Target Market Financial

Product number is between 50% and 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

Percentage of Target

Market Financial

Products – Number

Percentage of

Target Market

Financial Products –

Dollar Volume

Percentage Target

Market unique

depository account

holders

[Auto-display each

separate TM

component by row.]

[Auto-calculated.]

Total Target Market

Activity

[Auto-calculated.]

Target Market

threshold met?

[Auto-display – Yes or

No.]

[Auto-display – Yes

or No.]

[Auto-display – Yes or

No.]

DEVELOPMENT SERVICES

To be a Certified CDFI, the Applicant must have a track record of providing Development Services in

conjunction with its Financial Products and/or Financial Services either directly, through an Affiliate, or

through a contract with another provider. Development Services are defined in the CDFI Fund’s

regulation as “activities undertaken by a CDFI, its Affiliate or contractor that promote community

development and shall prepare or assist current or potential borrowers or investees to use the CDFI’s

Financial Products or Financial Services.”

An eligible Development Service is a structured training, counseling, or technical assistance service that

promotes access to and/or success with an entity’s Financial Products and Financial Services. A

structured Development Service should be offered regularly to eligible clients, have a defined curriculum

or written set of goals and objectives, and the outcome of success may be the completion of a specific

step that prepares current or potential customers to access or increase their knowledge about the

CDFI’s Financial Products and Financial Services.

A Development Service may be delivered in a classroom setting or one-on-one, in person or online, and

with or without a live instructor or facilitator. Development Services delivered without a live instructor

or facilitator must be well-developed online trainings with learning modules that include a method of

requiring the engagement of viewers and measuring their increased knowledge.

CDFI Certification Applicants must

- demonstrate that at least one Development Service is regularly offered to an Applicant’s clients

(or for DIHCs, its Affiliate’s clients) and is provided at least once per year;

- demonstrate that Development Service(s) provided via contract with a third-party entity or

third-party software platform are routinely reviewed and monitored, which may include such

activities as determining appropriateness of topics and outcomes, observing sessions with

borrowers, and/or obtaining customer feedback on the Development Service; and

- clearly identify how the Development Service(s) provided by the Applicant, an Affiliate, a third-

party entity under an agreement, or a third-party software platform prepares or assists current

or potential borrowers or investees to use at least one of the Applicant’s (or, for DIHCs, an

Affiliate’s) Financial Products or Financial Services.

A Development Service is separate and distinct from routine customer service, such as providing a

prospective or existing customer, borrower, or investee information about, or assistance completing, an

application for an Applicant’s Financial Products or Financial Services. 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, financial

or credit counseling; or business planning and management assistance) and Financial Services (e.g.,

financial education that promotes the opening of a depository account or promotes savings).

Per regulation, the Development Service must be directed toward the use of the Applicant’s Financial

Products or Financial Services and not those of another entity. A CDFI does not need to establish that

participants in any Development Service actually secured financing from the CDFI—only that the

12 CFR § 1805.104 – Definitions.

Development Service reasonably prepares them to access a Financial Product or Financial Service that

the CDFI offers at the time that the Development Service is offered.

For example, homebuyer counseling is a Development Service that may occur well in advance of a client

being prepared to access mortgage financing. However, a CDFI could not count housing counseling as a

Development Service if it did not offer a Financial Product or Service related to home purchase.

Depository institution Applicants are allowed to identify financial education as a Development Service if

it promotes opening a depository account or building savings in an account with the Applicant.

The CDFI Fund does not consider the following activities to be Development Services:

- responding to routine questions or providing routine explanation or instruction to prospective

or existing customers, borrowers, or investees on applying for the Applicant’s Financial Products

or Financial Services.

- underwriting completed applications for Financial Products or 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.

- 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, fliers, or online (e.g., the Applicant’s website or blog posts

and distinct from online training described above).

- workshops for youth (other than financial education that promotes opening a depository

account or building savings in an account with the Applicant).

- Conferences/workshops for broad audiences.

- presentations made at one-off events (e.g., annual conferences, fairs, or non-recurring events)

or at events held by other entities.

- marketing events/activities.

- unstructured conversations with consumers on Development Services subject matter. (A series

of one-on-one, goal-oriented conversations with consumers that have measurable outcomes,

however, may count as Development Services.)

As a rule of thumb, if an activity takes less than 30 minutes to deliver, it is very unlikely to meet the

definition of a Development Service, though it may be a segment, component, or module in the delivery

of a Development Service.

For clarity, the CDFI Fund does not prohibit CDFIs from providing services that do not meet the

definition of Development Services. However, those activities cannot be counted as Development

Services.

Applicants participating in the CDFI Fund’s Bond Guarantee 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 to non-Affiliated third-party individuals or entities; and

- provided in connection with Financial Products that the Applicant directly financed 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 to a 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 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 to an

Affiliated Controlling Certified CDFI:

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 provided to the Controlling

Certified CDFI, and provide the

relevant text.

Enter page number(s) and/or

section(s), and provide 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)

it offers on-balance sheet, but to an

Affiliated Controlling Certified CDFI:

Enter page number(s) and/or

section(s), and provide relevant

text.

“Eligible CDFI” means a Certified CDFI that has submitted an application to a Qualified Issuer for a Bond Loan,

has been deemed creditworthy based on the Bond Loan Requirements, and has received a Bond Loan.

Section

Question or purpose of data field

Response

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) for which

training/counseling is being provided

is offered to a Controlling Certified

CDFI, and provide the relevant text.

DS01.3

Attach the Operating Agreement

between the Applicant and a

Controlling Certified CDFI.

Attach Operating Agreement.

DS02

Identify the purpose of the Financial Product(s)

or Financial Service(s) that is offered by the

Applicant and connected to the Development

Service being offered by the Applicant.

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.

- Checking account.

- Savings account.

- Other.

DS02.1

If “Other,” describe the Financial

Product or Financial Service.

Provide narrative.

DS03

Identify the topic of a Development Service

currently offered by the Applicant (directly or

Select all that apply:

- Financial

Section

Question or purpose of data field

Response

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.

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.

- Financial

Management/Budgeting.

- Banking for businesses.

- Other.

DS03.1

If “Other,” describe the topic and

explain how it is relevant as a

Development Service.

Provide narrative.

DS03.2

Provide a description of the

Development Service offered

including format, frequency, and how

it prepares the current or potential

customers, borrowers, or investees to

use at least one of the Applicant’s

Financial Products or Financial

Services.

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).

DS04.2

Does the agreement identify the

Development Service topics?

Yes or No.

If “No,” the related Development

Service cannot be used.

DS04.3

Does the agreement describe how the

contracted third-party entity’s activity

is routinely reviewed and monitored?

Select Yes or No.

If “No,” the related Development

Service cannot be used.

DS04.4

Does the agreement identify the

Development Service outcomes?

Select Yes or No.

If “No,” the related Development

Section

Question or purpose of data field

Response

Service cannot be used.

DS04.5

Does the agreement identify the

number of sessions for the

Development Service?

Select Yes or No

If “No,” the related Development

Service cannot be used.

DS04.6

Does the agreement identify the

mechanism for obtaining customer

feedback on the Development

Service?

Select Yes or No.

If “No,” the Development Service

cannot be used.

A minimum of one Development Service must be offered and presented in the CDFI Certification

Application. However, the Applicant may present up to three Development Service activities offered

by the Applicant, an Affiliate, or a non-Affiliated third party. Repeat the data entry for each relevant

Development Service.

ACCOUNTABILITY

To be a Certified CDFI, an entity must demonstrate accountability to allowed CDFI Certification Target

Markets component(s) for itself and, if applicable, for any entity relevant to its CDFI Certification

collective review process by having a sufficient level of accountable individuals on its relevant governing

board and/or formal advisory board. As an option for credit unions only, demonstrating a sufficient level

of accountable individuals on an advisory board and having a sufficient level of credit union members

that are part of the credit union’s allowed Target Market component(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)

Primary 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 primarily 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

qualified census tracts of an IA.

Status as a staff member of a

non-Affiliated, third-party,

community development

mission-driven organization that

primarily provides services to

Low-Income people.

Status as a staff member of a

Certified CDFI (OTP-CDFI only).

Status as an elected official

primarily representing residents

of qualified census tracts.

Status as a staff member of a

non-Affiliated, third-party,

community development

mission-driven organization that

primarily provides services to

people with disabilities (OTP –

Persons with Disabilities only).

Investment Area (IA)

Low-Income Targeted

Populations (LITP)

Other Targeted Population

(OTP)

Status as a staff member of a

non-Affiliated, third-party,

community development

mission-driven organization that

primarily provides services to

residents of a qualified census

tract(s).

Status as a family member

of a

person with disabilities (OTP –

Persons with Disabilities only).

Enrollment in a federally

recognized tribe (Applicants

serving IAs located in Native

geographies only).

ACCOUNTABILITY METHODS

Applicants must demonstrate individual and, if required, collective accountability to their proposed

Target Market(s) through one of the following options:

Option 1: Governing Board Only

- At least one governing board member is accountable to each proposed Target Market type, 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 the overall proposed Target

Market;

- At least one advisory board member is accountable to each proposed Target Market type;

- At least 60% of the advisory board is accountable to the overall proposed Target Market(s);

- At least one governing board member is also a member of the advisory board; and

- The Applicant has adopted an advisory board policy.

Option 3: Advisory Board Supplemented by Credit Union Membership (Credit Union Applicant Only)

- At least 33% of the credit union’s members are determined to be members of at least one

Target Market type in the overall proposed Target Market, using a CDFI Fund-approved Target

Market assessment methodology;

- At least one advisory board member is accountable to each proposed Target Market type;

- At least 60% of the advisory board is accountable to the overall proposed Target Market(s);

- At least one governing board member is also a member of the advisory board; and

- The Applicant has adopted an advisory board policy.

Option 4: Advisory Board Only (DIHCs, IDIs, and entities without a formal governing board only)

- At least one advisory board member is accountable to each proposed Target Market type;

- At least 80% of the advisory board is accountable to the overall proposed Target Market(s);

Family members include those related by blood (including half-siblings), adoption, or marriage.

- At least one governing leadership member of the Applicant entity is also a member of the

advisory board; and

- The Applicant has adopted an advisory board policy.

BOARD TYPE AND SIZE REQUIREMENTS

For a board to be accepted as a means of CDFI Certification Accountability, it must be a governing board

duly established and operating in accordance with the legal and regulatory requirements that apply to

the entity it serves or an advisory board established by the governing board for the entity the advisory

board serves and operating in accordance with an advisory board policy adopted by that entity and any

legal and regulatory requirements that may exist.

For the purposes of CDFI Certification, the CDFI Fund requires that a governing board consist of no less

than three members and that an advisory board consist of no less than five members.

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 demonstrate

Accountability to its CDFI Certification Target Market, both

- individually to its own Target Market, based on its own Accountability method; and

- collectively, where any entity relevant to the CDFI Certification collective review process must

also demonstrate Accountability to the Applicant’s CDFI Certification Target Market via its own

allowable Accountability method; or, if the related entity does not engage in its own Financial

Product activity, via the Accountability of an entity that Controls it (there must be formally

approved documentation demonstrating a Control relationship), even if it has not adopted the

board(s) used as a means of Accountability by the Controlling entity as its own board(s).

DIHC and IDI Applicants may meet the Accountability requirements through use of an Affiliate’s

governing board as an advisory board if that governing board meets the Accountability requirements

described in Option 1 above.

Assessing an Advisory Board

The CDFI Fund will assess an advisory board to verify that

- the advisory board’s role includes providing input to the governing leadership on strategic and

policy matters;

- the members of the advisory board are appointed by a duly documented action of the governing

board;

- the advisory board is made up of no less than five active members;

- the advisory board meets at least three times per year; and

- the advisory board is established and governed by an advisory board policy that meets the

standards described below.

Assessing an Advisory Board Policy

An organizational advisory board policy can be a stand-alone document or can be incorporated into an

Applicant’s governance or organizing document. At minimum, an advisory board policy must include a

description of the following:

100

- the purpose of the advisory board and the scope of topics or strategic policy matters on which

the advisory board provides input or advice to the governing board or owners;

- how the input that the advisory board provides to the governing board is documented (for

example: regular meetings with the governing leadership, the inclusion of advisory board

meeting minutes in governing leadership meeting packets, written reports providing feedback

on decisions related to strategic policy matters, etc.);

- the process by which individuals are selected and approved as members of the advisory board;

and

- how the advisory board seeks input from, and/or reviews data on the financial needs and

opportunities in, the Target Market(s) for which it provides accountability.

FINANCIAL INTEREST CONFLICTS WITH ACCOUNTABILITY

Board members with certain types of financial interest in an Applicant (either directly or via a family

member) may not be considered accountable to any of the Applicant’s Target Market components, as

the financial interest may conflict with the 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

who owns at least 25% of or Controls an entity, either individually or in combination with other family

members) 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. In addition, to avoid a financial conflict of interest, Applicants with board members who

have active Financial Products from the Applicant, or whose family members or employer have active

Financial Products from the Applicant, should have policies requiring such board members to recuse

themselves from any decision that may affect, directly or indirectly their Financial Product or

relationship.

For purposes of determining a financial Accountability conflict, covered family members include

spouses, children (including step-, in-law, and adopted children), and other members of the board

member’s family (i.e., siblings [including step-, half, and in-law siblings], parents [including step- and in-

law parents], and grandparents related by blood or adoption).

MAPPING REQUIREMENTS

Maps are required where noted to confirm board member accountability.

CIMS provides mapping and geocoding capabilities to support the Application process and to assess the

eligibility of board member source of accountability. Through CIMS, Applicants are able to upload and

process the accurate batch geocoding of addresses to confirm addresses and geographies being served.

ACCOUNTABILITY – GENERAL INFORMATION

The Applicant will enter all relevant board and board member data for questions AC01 through AC05 for

each board presented.

Section

Question or purpose of data field

Response

AC01

Does the Applicant need to demonstrate

Accountability for the CDFI Certification collective

review process?

Yes or No.

101

Section

Question or purpose of data field

Response

AC01.1

If “Yes,” identify the entity being

presented for the collective review.

Select one:

- Applicant.

- CDFI Certification collective

review – related entity

Accountability CDFI

Certification collective

review – Controlling Entity.

AC02

If “related entity” is selected, identify the relevant

Affiliate.

Select name from AMIS board

record.

AC03

If “Controlling Entity”:

AC03.1

Does the Applicant or relevant related

entity engage in the direct provision of

Financial Products or Financial Services?

Yes or No.

If “Yes,” the Applicant’s

Accountability cannot be provided

by the Controlling entity.

AC03.1a

If “No,” identify the

Controlling Entity providing

Accountability.

Select name from AMIS board

record.

AC03.2

Provide document that demonstrates the

entity providing Accountability is a

Controlling Entity.

Attachment.

AC04

Method of Accountability – Applicant.

Select one:

- Governing board only.

- Governing board and

advisory board.

- Advisory board and credit

union membership (credit

union only).

- Advisory board only (DIHCs,

IDIs, and those with no

formal governing board

only).

AC05

Method of Accountability – Affiliate(s).

Select one:

- Governing board.

- Governing board and

advisory board.

- Credit union membership

and advisory board (credit

unions only).

- Advisory board only (DIHCs,

IDIs, and those with no

formal governing board

only).

102

ACCOUNTABILITY – GOVERNING AND/OR ADVISORY BOARD

Section

Question or Purpose of data field

Response

AC-GA01

Will the Applicant or any relevant Affiliate use its

governing board to maintain Accountability to

the Applicant’s proposed Target Market(s)?

Yes or No.

AC-

GA01.1

If “Yes,” identify the governing

board.

Select from AMIS Board Record.

AC-GA02

Will the Applicant or any relevant Affiliate use

credit union membership and an advisory board

to maintain Accountability to the Applicant’s

proposed Target Market(s)?

Yes or No.

If “Yes”:

AC-

GA02.1

Enter the total number of credit union

members active with the entity as of

the end of the most recently

completed Fiscal Year prior to the

submission of the Application.

Enter number.

AC-

GA02.2

Identify the Target Market component

type(s) formally identified for the

entity presenting its accountability

information that will be used to

demonstrate accountability through

credit union membership.

Select one:

- Investment Area – Pre-

qualified.

- Investment Area –

Customized.

- Investment Area – Non-

Metro Customized.

- Investment Area – Non-

Metro counties/parishes.

- Low-Income Targeted

Population.

- Other Targeted Population

– African American.

- Other Targeted Population

– Hispanic.

- Other Targeted Population

– Native American.

- Other Targeted Population

– Native Alaskan.

- Other Targeted Population

– Native Hawaiian.

- Other Targeted Population

– Other Pacific Islander.

- Other Targeted Population

– Filipino.

- Other Targeted Population

– Vietnamese.

- Other Targeted Population

– Persons with Disabilities.

103

Section

Question or Purpose of data field

Response

- Other Targeted Population

– Certified CDFIs.

- New Targeted Population

(Pre-approved by the CDFI

Fund).

AC-

GA02.2a

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.

AC-

GA02.3

Enter the total number of credit union

members who are members of the

Target Market identified in AC-

GA03.2.

Enter the total number of credit

union members who are members

of the Target Market.

AC-

GA02.4

Calculate percentage of credit union

members who are members of the

Target Market identified in AC-

GA03.2.

[Auto-calculated.]

AC-

GA02.5

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.

If “No,” the advisory board and

credit union membership Native

Communities level method of

Accountability cannot be used.

AC-GA03

Will the Applicant or any relevant Affiliate use an

advisory board to maintain accountability to the

proposed Target Markets(s)?

Yes or No.

If “Yes”:

AC-

GA03.1

Identify the advisory board.

Select from AMIS Board Record.

AC-

GA03.2

Does the Applicant have an advisory

board policy that has been board

approved?

Yes or No.

If “No,” the Applicant is unable to

use an advisory board for

Accountability.

If “Yes”:

AC-

GA03.2a

Does the policy describe

the role of the advisory

board?

Yes or No.

If “No,” the Applicant is unable to

use the advisory board for

Accountability.

AC-

GA03.2b

Does the policy require

that the advisory board be

made up of no less than

Yes or No.

If “No,” the Applicant is unable to

104

Section

Question or Purpose of data field

Response

five members that are

appointed through a duly

documented action of the

governing board?

use the advisory board for

Accountability.

AC-

GA03.2c

Does the policy describe

how the input that the

advisory board provides to

the governing board is

documented?

Yes or No.

If “No,” the Applicant is unable to

use the advisory board for

Accountability

AC-

GA03.2d

Does the policy describe

how the advisory board

seeks input from and/or

reviews data on the

financial needs and

opportunities in the Target

Market(s) for which it

provides accountability?

Yes or No.

If “No,” the Applicant is unable to

use the advisory board for

Accountability.

AC-

GA03.2e

Does the policy state the

advisory board meets at

least three times a year?

Yes or No.

If “No,” the Applicant is unable to

use the advisory board as a means

of Accountability.

AC-

GA03.2f

Attach the board-approved

advisory board policy.

Attach.

Applicants will enter all relevant board member data in questions AC-GA04 through AC-GA11 for

each board and for each board member.

AC-GA04

Total number of board members.

Enter number.

AC-GA05

Board member name.

Enter name.

AC-GA06

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.

AC-GA07

Is this board member or any covered 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.

Covered family members include spouses, children (including step-, in-law, and adopted children), or other

family members of the board member’s household (i.e., siblings [including step-, half-, and in-law siblings], parents

[including step- and in-law parents], and grandparents related by blood or adoption).

105

Section

Question or Purpose of data field

Response

AC-GA08

Does the board member or any covered member

of their family, individually or in combination,

own 25% or more of, or Control, the entity for

which they serve as a board member 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.

AC-GA09

Does the board member, the board member’s

employer, or any covered member of the board

member’s family have an active Financial Product

from the Applicant?

Yes or No.

AC-

GA09.1

If “Yes,” does the Applicant have

policies requiring such board members

to recuse themselves from any decision

that may affect, directly or indirectly,

their Financial Product or relationship?

Yes or No.

If “No,” no further information on

this board member is required as

this board member is ineligible to

be presented as accountable.

AC-GA10

Is this board member accountable to a Target

Market type(s) in the overall Target Market?

Yes or No.

If “No,” no further information on

this board member is required.

If “Yes,” continue to the next

question.

AC-GA11

Identify the Target Market types to which the

board member is accountable.

Select all that apply:

[A list of the Applicant’s Target

Market types will be auto-

populated based on information

entered in TM01.]

Source of Accountability – Pre-qualified Investment Area

Questions AC-GA12 through AC-GA17 will be asked only of board members identified as accountable

to a Pre-qualified Investment Area.

AC-GA12

What source(s) of accountability does the board

member use to demonstrate that they are

currently connected to a Pre-qualified Investment

Area?

Select all that apply:

- Primary residence in a

qualified census tract.

- Owner of a small business

primarily located in a

qualified census tract(s).

- Owner of a small business

that principally employs

and/or principally provides

goods or services to

residents of qualified

census tracts.

- Elected official primarily

serving residents of

106

Section

Question or Purpose of data field

Response

qualified census tracts.

- Staff member of a non-

Affiliated, third-party,

mission-driven organization

that primarily provides

services to residents of

qualified census tracts.

- Enrollment in a federally

recognized tribe (for

Applicants serving IAs

located in Native

geographies only).

AC-GA13

If the board member is listed as accountable as a

resident of a qualified census tract, provide the

FIPS

code for the census tract in which the

board member resides.

Enter FIPS code.

(Include leading zeros where

appropriate.)

AC-GA14

If the board member is identified as accountable as the owner of a small business that is

primarily located in a qualified census tract or that principally employs and/or

principally provides goods or services to residents of the qualified census tract(s):

AC-

GA14.1

What percentage of ownership does

the board member have in the

business?

Enter percentage.

AC-

GA14.2

What is the name of the small

business owned by the board

member?

Enter name.

AC-

GA14.3

Does the small business have multiple

locations (e.g., a franchise)?

Yes or No.

If “Yes”:

AC-

GA14.3a

Are at least 51% of the

businesses locations in a

qualified census tract(s)?

Yes or No.

AC-

GA14.3b

Create a map in CIMS to

provide the census tracts

for the business locations,

and enter the name of the

map.

Enter map name.

If “No”:

AC-

GA14.3c

Is the business located in a

qualified census tract?

Yes or No.

AC-

GA14.3d

What is the FIPS code of

the business location?

Enter the business FIPS code.

(Include leading zeros where

The Federal Information Processing Standards (FIPS) code uniquely identifies states, counties, county

equivalents, and census tracts in the United States, certain U.S. possessions, and certain freely associated states.

107

Section

Question or Purpose of data field

Response

appropriate)

AC-

GA14.4

If the small business(es) is not

primarily located in a qualified census

tract(s), does the business principally

employ residents of a qualified census

tract(s).

Yes or No.

If “Yes”:

AC-

GA14.4

Describe how the small

business demonstrates that

it principally employs

residents of a qualified

census tract(s).

Provide narrative.

AC-

GA14.5

If the small business(es) is not

primarily located in a qualified census

tract(s), does the business(es)

principally provide goods or services

to residents of a qualified census

tract(s)?

Yes or No.

If “Yes”:

AC-

GA14.5

Create a map(s) in CIMS of

the geography(ies) served

by the small business, and

enter the name of the

map(s).

Enter map(s) name.

AC-

GA14.5

If the map does not clearly

evidence primarily serving

qualified census tracts,

describe how the business

demonstrates that it

principally provides goods or

services to residents of a

qualified census tract(s).

Provide narrative.

AC-GA15

If the board member is listed as accountable as an elected official primarily serving

residents of qualified census tracts:

AC-

GA15.1

Identify the elected official’s office

and jurisdiction.

Enter the name of the office and

jurisdiction.

AC-

GA15.2

Create a map in CIMS of the

geography served by the elected

official and enter the name of the

map.

Map name.

AC-GA16

If the board member is listed as accountable as a staff member of a non-Affiliated,

third-party, community development mission-driven organization that primarily

provides services to residents of qualified census tracts:

AC-

GA16.1

Provide the name of the non-

Affiliated, third-party, community

development mission-driven

Enter name.

108

Section

Question or Purpose of data field

Response

organization.

AC-

GA16.2

Provide the mission statement of the

organization primarily serving

residents of qualified census tracts.

Enter mission statement.

AC-

GA16.3

Describe how the organization’s

mission statement allows them to

primarily serve qualified census

tract(s) or primarily serve residents of

a qualified census tract(s)?

Provide narrative.

AC-

GA16.4

If the description does not evidence

that the organization primarily serves

qualified census tract(s) or primarily

serve residents of a qualified census

tract(s), create a map(s) in CIMS of

the geography(ies) served by the

organization, and enter the name of

the map(s).

Enter map(s) name.

AC-

GA16.5

Provide the employee’s job title.

Enter job title.

AC-

GA16.6

Describe how the board member’s

role in their place of employment can

demonstrate that it primarily serve

residents of qualified census tract(s).

Provide description.

AC-GA17

If the board member is identified as accountable as an enrolled member of a federally

recognized tribe (for Applicants serving an IA(s) located in a Native Communities

geography[ies] only):

AC-

GA17.1

Identify the federally recognized tribe.

Enter name of the federally

recognized tribe.

Source of Accountability – Customized Investment Area or non-Metro county/parish Investment

Area

Questions AC-GA18 through AC-GA23 will be asked only for board members identified as accountable

to a Customized Investment Area or non-Metro county/parish Investment Area (eligible geography).

AC-GA18

What source(s) of accountability does the board

member use to demonstrate that the board

member is currently connected to the eligible

geography?

Select all that apply:

- Primary residence in a

qualified census tract of

the eligible geography.

- Owner of a small business

primarily located in a

qualified census tract(s) of

the eligible geography.

- Owner of a small business

that principally employs

and/or principally provides

goods or services to

residents of the qualified

census tract(s) of the

109

Section

Question or Purpose of data field

Response

eligible geography.

- Elected official primarily

serving the residents of

qualified census tracts of

the eligible geography.

- Staff member of a non-

Affiliated, third-party,

community development

mission-driven organization

that primarily provides

services to residents of

qualified census tracts of

the eligible geography.

- Enrollment in a federally

recognized tribe (for

Applicants serving qualified

census tracts of the eligible

geography located in a

Native Communities

geography[ies] only).

AC-GA19

If the board member is listed as accountable as a

resident of a qualified census tract of the eligible

geography, provide the FIPS code for the census

tract in which the board member resides.

Enter FIPS code.

(Include leading zeros where

appropriate.)

AC-GA20

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 eligible geography or that principally employs

and/or principally provides goods or services to residents of the qualified census tract(s)

of the eligible geography:

AC-

GA20.1

What percentage of ownership does

the board member have in the

business?

Enter percentage.

AC-

GA20.2

What is the name of the business

owned by the board member?

Enter name.

AC-

GA20.3

Does the business have multiple

locations (e.g., a franchise)?

Yes or No.

If “Yes”:

AC-

GA20.3a

Are at least 51% of the

businesses locations in a

qualified census tract of

the eligible geography?

Yes or No.

AC-

GA20.3b

Create a map in CIMS to

provide the census tracts

for the business locations

and enter the name of

the map.

Enter map name.

If “No”:

110

Section

Question or Purpose of data field

Response

AC-

GA20.3c

Is the business located in

a qualified census tract of

the eligible geography?

Yes or No.

AC-

GA20.3d

What is the FIPS code of

the business location?

Enter the business FIPS code.

(Include leading zeros where

appropriate.)

AC-

GA20.4

If the small business(es) is not

primarily located in a qualified census

tract(s), does the business principally

employ residents of a qualified

census tract(s) of the eligible

geography(ies)?

Yes or No.

If “Yes”:

AC-

GA20.

Describe how the small

business demonstrates that

it principally employs

residents of a qualified

census tract(s) of the eligible

geography.

Provide narrative.

AC-

GA20.5

If the small business(es) is not located

in a qualified census tract(s), does the

business(es) principally provide

goods or services to residents of a

qualified census tract(s) of the

eligible geography(ies)?

Yes or No.

If “Yes”:

AC-

GA20.

Create a map(s) in CIMS of

the geography(ies) served

by the small business in an

eligible geography(ies), and

enter the name of the

map(s).

Enter map(s) name.

AC-

GA20.

If the map does not clearly

evidence primarily serving

eligible census tract(s) in the

eligible geography(ies),

describe how the business

demonstrates that it

principally provides goods or

services to residents of a

qualified census tract(s) of

an eligible geography(ies).

Provide narrative.

AC-GA21

If the board member is listed as accountable as an elected official primarily serving

residents of qualified census tracts of the eligible geography:

AC-

Identify the elected official’s office

Enter the name of the office and

111

Section

Question or Purpose of data field

Response

GA21.1

and jurisdiction.

jurisdiction.

AC-

GA21.2

Create a map in CIMS of the

geography served by the elected

official and enter the name of the

map.

Map name.

AC-GA22

If the board member is listed as accountable as a staff member of a non-Affiliated,

third-party, community development mission-driven organization that primarily

provides services to residents of the qualified census tracts of the eligible geography:

AC-

GA22.1

Provide the name of the non-

Affiliated, third-party, community

development mission-driven

organization.

Enter name.

AC-

GA22.2

Provide the mission statement of the

organization primarily serving

residents of the eligible geography.

Enter mission statement.

AC-

GA22.3

Describe how the organization’s

mission statement allows it to

primarily serve qualified census

tract(s) or primarily serve residents of

a qualified census tract(s) in the

eligible geography.

Provide narrative.

AC-

GA22.4

If the description does not evidence

that the organization primarily serves

qualified census tract(s) or primarily

serve residents of an eligible

geography(ies), create a map(s) in

CIMS of the geography(ies) served by

the organization, and enter the name

of the map(s).

Enter map(s) name.

AC-

GA22.5

Provide the employee’s job title.

Enter job title.

AC-

GA22.6

Describe how the board member’s

employment demonstrates that the

organization primarily serves

residents of qualified census tracts of

the eligible geography.

Provide description.

AC-GA23

If the board member is identified as accountable as an enrolled member of a federally

recognized tribe (for Applicants serving an IA[s] located in a Native Communities

geography[ies] only):

AC-

GA23.1

Identify the federally recognized tribe.

Enter name of the federally

recognized tribe.

Source of Accountability – Low-Income Targeted Population

Questions AC-GA24 through AC-GA26 will be asked only for board members identified as accountable

to a Low-Income Targeted Population.

AC-GA24

What source(s) of accountability does the board

member use to demonstrate that the member is

Select all that apply:

- Low-Income individual.

112

Section

Question or Purpose of data field

Response

currently connected to a Low-Income Targeted

Population?

- Staff member of a non-

Affiliated, third-party,

community development

mission-driven organization

that primarily provides

services to Low-Income

people.

AC-GA25

If the board member is listed as accountable to

the Low-Income Targeted Population as a Low-

Income person, does the Applicant attest that the

board member is Low-Income?

Yes, No, or N/A.

AC-GA26

If the board member is listed as accountable as a

staff member of a non-Affiliated, third-party,

community development mission-driven

organization that primarily provides services to

Low-Income people:

AC-

GA26.1

Provide the name of the third-party

organization.

Enter name.

AC-

GA26.2

Provide the mission statement of the

organization.

Enter mission statement.

AC-

GA26.3

Provide the employee’s job title.

Enter job title.

AC-

GA26.4

Describe how the board member’s

place of employment allows the

board member to primarily serve

Low-Income people.

Provide narrative.

Source of Accountability – Other Targeted Population

Questions AC-GA27 through AC-GA31 will be asked only for board members identified as accountable

to an Other Targeted Population.

AC-GA27

Other Targeted Population.

What source(s) of accountability does the board

member use to demonstrate that the board

member is currently connected to the Other

Targeted Population?

Select all that apply:

- Member of the Other

Targeted Population.

- Staff member of a Certified

CDFI (OTP-CDFI only).

- Staff member of a non-

Affiliated, third-party,

community development

mission-driven organization

that primarily provides

services to people with

disabilities (OTP – Persons

with Disabilities only).

- Family member of a person

with disabilities (OTP –

Persons with Disabilities

only).

113

Section

Question or Purpose of data field

Response

AC-GA28

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/Surname.

- OTP-Hisp.1: Self-Report.

- OTP-Hisp.2:

Visual/Surname.

- OTP-Native American.1:

Self-Report.

- OTP-Native American.2:

Tribal Identification

Verification.

- OTP-Native Alaskan.1: Self-

Report.

- OTP-Native Alaskan.2:

Tribal Identification

Verification.

- OTP-Native Hawaiian.1:

Self-Report.

- OTP-Native Hawaiian.2:

Origins Identification

Verification.

- OTP-Pacific Islander.1: Self-

Report.

- OTP-Filipino.1: Self-Report.

- OTP-Vietnamese.1: Self-

Report.

- OTP-PWD.1: Self-Report.

- OTP-PWD.2:

Visual/Auditory/

Documentation

- OTP-PWD.3: Technology/

Accessibility.

- OTP-Certified CDFI.1:

Certified CDFI.

- LITP.1: Documented Full

Family Income.

- LITP.2: Programmatic

Proxy.

- LITP.3: Self-Reported

Family Income.

- LITP.4: Documented

Underwriting Income and

Default Family Size.

- LITP.5 Organization Proxy.

- IA.1: Residence.

- IA.2: Project/Service.

- Separately approved

114

Section

Question or Purpose of data field

Response

assessment methodology.

If “Separately approved assessment

methodology”:

AC-GA28.1

Identify the assessment

methodology(ies) approved by

the CDFI Fund.

Narrative.

AC-GA29

If the board member is listed as accountable as a staff member of a Certified CDFI:

AC-

GA29.1

Provide the name of the Certified

CDFI.

Enter name.

AC-

GA29.2

Provide the employee’s job title.

Enter job title.

AC-GA30

If the board member is listed as accountable as a staff member of a non-Affiliated,

third-party, community development mission-driven organization that primarily serves

people with disabilities:

AC-

GA30.1

Provide the name of the

organization.

Enter name.

AC-

GA30.2

Provide the mission statement of the

organization.

Enter mission statement.

AC-

GA30.3

Provide the employee’s job title.

Enter job title.

AC-

GA30.4

Describe how the board member’s

place of employment allows him/her

to primarily serve people with

disabilities.

Provide description.

AC-GA31

If the board member is listed as accountable as a

family member

of a person with a disability,

identify the relationship of the board member to

the person with disabilities.

Select one:

- Spouse.

- Parent.

- Child.

- Sibling.

- Aunt or uncle.

- Grandparent.

- Stepparent.

- Stepchild.

- Step-sibling.

- 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.

Family members include those related by blood (including half-siblings), adoption, or marriage.

115

NON-GOVERNMENT ENTITY

To be a Certified CDFI, the Applicant may not be an agency or instrumentality of the United States

government, 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.

An entity that is operated or Controlled by a tribal government is eligible to apply for Certification.

Indian tribes are not agencies or instrumentalities of the United States 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, and so on).

- 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

Was the Applicant previously Controlled by a

government entity or government-Controlled entity?

Yes or No.

NGE01.1

If “Yes,” can the Applicant demonstrate

that it has been more than 12 months

since it transitioned from government

control?

Yes or No.

If “No,” the Applicant is not

eligible for CDFI Certification.

NGE01.2

Attach copy of document(s) that clearly

evidences that the Applicant is no longer

Controlled by a government entity or

government-Controlled entity.

Attach document.

NGE02

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.

NGE02.1

If “Yes,” explain how this circumstance

is not evidence of government Control.

Provide narrative.

NGE03

Does a government or government-Controlled entity

Yes or No.

116

Section

Question or purpose of data field

Response

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?

NGE03.1

If “Yes,” explain how this circumstance

is not evidence of government Control.

Provide explanation.

NGE04

Does the Applicant’s governing board contain

members that are government officials (elected,

appointed, employees, etc.)?

Yes or No.

If “Yes”:

NGE04.1

Identify the governing board members

that are government officials.

Select all that apply:

[Auto-populated list of board

members entered in

Accountability section.]

NGE04.1a

Identify the

government agency.

Enter name of government

agency.

NGE04.1b

Identify the board

member’s title and

role with the

government agency.

Enter title and role.

NGE04.2

Does a majority or substantial minority

of the Applicant’s board of directors

consist of government officials (elected,

appointed, employees, etc.)?

Yes or No.

NGE04.2a

If “Yes,” explain how

this circumstance is not

evidence of

government Control.

Provide explanation.

NGE04.3

Does the Applicant’s

organizing/establishing documents or

bylaws require that a certain number of

the Applicant’s governing board be

government employees or

elected/appointed government

officials?

Yes or No.

NGE04.3a

If “Yes,” explain how

this circumstance does

not constitute

government Control.

Provide explanation.

NGE05

Do 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.

NGE05.1

If “Yes,” explain how this circumstance

does not constitute government

Control.

Provide explanation.

117

Section

Question or purpose of data field

Response

NGE06

Does any government entity provide more than 50%

of the Applicant’s operating and/or capital budget?

Yes or No.

If “Yes”:

NGE06.1

Explain how this circumstance does not

constitute government Control.

Provide explanation.

NGE06.2

Does that government entity have the

ability to control the use of those

funds?

Yes or No.

NGE06.3

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).

NGE06.4

Provide the page number of the

document that provides confirmation.

Enter page number(s).

NGE07

Does any government entity manage any aspect of

the Applicant’s operations?

Yes or No.

NGE07.1

If “Yes,” explain how this circumstance

does not constitute government

Control.

Provide explanation.

NGE08

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.

NGE08.1

If “Yes,” explain how this circumstance

does not constitute government

Control.

Provide explanation.

NGE09

If the Applicant is Controlled by another entity, is that

entity Controlled by one or more government

entities?

Yes or No.

NGE09.1

If “Yes,” explain how this circumstance

does not constitute government Control

of the Applicant.

Provide explanation.

NGE10

Does 50% or more of the Applicant’s funding to

support programs or activities developed by a

government entity and implemented by the Applicant

on behalf of that government entity come from a

single government entity?

Yes or No.

If “Yes”:

NGE10.1

Explain how this funding does not

constitute government Control.

Provide explanation.

NGE10.2

Attach a copy of contract(s).

Attachment(s).

NGE10.3

Provide the page number of the

document that provides confirmation.

Enter Page Number(s).

118

NATIVE AMERICAN CDFI DESIGNATION

To receive the Native American 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;

and

- demonstrate accountability to at least one Native Community through at least one of the

following options:

ACCOUNTABILITY METHODS

Option 1: Governing Board Only

- At least 33% of the governing board is 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: Governing Board Supplemented by Advisory Board

- At least 60% of an advisory board is 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 is accountable to a Native Community population or Native

Community geography;

- At least one governing board member is also a member of the advisory board; and

- The Applicant has adopted an advisory board policy.

Option 3: Advisory Board Supplemented by Credit Union Membership (Credit Union Applicant Only)

- At least 33% of the 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;

To maintain the designation status, Native American CDFIs must demonstrate compliance with the Native

American CDFI Designation financing activity percentage benchmarks each fiscal year. After initial certification

through this Application, a Native American CDFI that fails to meet the Target Market benchmarks, based on its

Financial Products and/or Financial Services activity, over its most recently completed fiscal year may maintain its

Native American CDFI designation by demonstrating that it met the benchmarks over a three-year period through

the last day of its most recently completed fiscal year—as measured by the data submitted in the CDFI’s three

most recent TLRs, including as part of its Certification Application, if necessary. (A Certified CDFI that fails to meet

the Native American CDFI designation benchmarks for the previous fiscal year in its first ACR submission will have

the option to be evaluated over a two-year period through the last day of its most recently completed fiscal year.)

Native CDFIs that still fall below the Native American CDFI designation benchmarks over three full fiscal years of

financing activity in their TLR (or over two full fiscal years for those with less than two years of Certification under

this Application) will lose the Native American CDFI designation, and no additional cure period will be granted.

119

- At least 50% of such representative board members are members of a Native Community

population(s);

- At least one governing board member is also a member of the advisory board; and

- The Applicant has adopted an advisory board policy.

Option 4: Advisory Board Only (DIHCs, IDIs, and entities 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 leader of the Applicant entity is also a member of the advisory board;

and

- The Applicant has adopted an advisory board policy.

BOARD TYPE AND SIZE REQUIREMENTS

For a board to be accepted as a means of CDFI Certification Accountability, it must be a governing board

duly established and operating in accordance with the legal and regulatory requirements that apply to

the Applicant or an advisory board established by the governing board, in operating accordance with the

Applicant’s advisory board policy and any legal and regulatory requirements that may exist.

For the purposes of CDFI Certification, the CDFI Fund requires that a governing board consist of no less

than three members and that an advisory board consist of no less than five members.

Assessing an Advisory Board

The CDFI Fund will assess an advisory board to verify that

- the advisory board’s role includes providing input to the governing board or ownership on

strategic and policy matters;

- the members of the advisory board are appointed by a duly documented action of the governing

board;

- the advisory board is made up of no less than five active members;

- the advisory board meets at least three times per year; and

- the advisory board is established and governed by an advisory board policy that meets the

standards described below.

Assessing an Advisory Board Policy

An organizational advisory board policy can be a stand-alone document or can be incorporated into an

Applicant’s governance or organizing document. At minimum, an advisory board policy must include a

description of the following:

- the purpose of the advisory board and the scope of topics or strategic policy matters on which

the advisory board provides input or advice to the governing board or owners;

- how the input that the advisory board provides to the governing board is documented (for

example: regular meetings with the governing leadership, the inclusion of advisory board

meeting minutes in governing leadership meeting packets, written reports providing feedback

on decisions related to strategic policy matters);

120

- the process by which individuals are selected and approved as members of the advisory board;

and

- how the advisory board seeks input from and/or reviews data on the financial needs and

opportunities in the Target Market(s) for which it provides accountability.

Native Communities include the following populations: Native American/American Indian, Native

Alaskan, and Native Hawaiian; 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.

The individual accountability of board members to a Native Community may be demonstrated through

any of the following means:

- membership in a Native Community population;

- Primary Residence in a Native Community geography;

- status as a small business owner, where the business is located in a Native Community

geography;

- status as a small business owner that principally employs and/or principally provides goods or

services to residents of a Native Community geography;

- status as an elected tribal government official serving a Native Community; or

- status as a staff member of a non-Affiliated, third-party, community development mission-

driven organization that primarily provides services to members of a Native Community and/or

residents of Native Community geography.

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 American 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 American CDFI designation requirement.

NATIVE AMERICAN CDFI DESIGNATION – GENERAL

Section

Question or purpose of data field

Response

NA01

Does the Applicant want to be designated as a

Native American CDFI?

Yes or No.

[If “No,” no further questions in

this section.]

NA02

If the Applicant provided Financial Products 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 received the Financial Products

and/or the depository accounts.

Select all that apply:

- Native American.

- Native Alaskan.

- Native Hawaiian.

- Native American areas

defined as federally

designated

reservation(s).

- Hawaiian homeland(s).

- Alaska Native Village(s).

- U.S. Census Bureau-

designated Tribal

121

Section

Question or purpose of data field

Response

Statistical Area(s).

NATIVE AMERICAN 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 toward the 50% requirement for Native

American CDFI designation.

(Simulated Table – actual display in AMIS may differ)

Native American CDFI Designation Table 1: Native Financing Test

Percentage of Native

Communities Financial

Products – Number.

Native Communities

threshold met?

Percentage of Native

Communities Financial

Products – Dollar

Volume.

Native Communities

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 does not engage in its own

direct Financial Product or Financial Service activity

and 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.

Select relevant Affiliates from

Affiliates record.

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.

NA-NC03

Identify the assessment methodology(ies) used by the

Applicant.

Select all that apply:

- OTP-Native American.1:

Self-Report.

- OTP-Native American. 2:

Tribal Identification

Verification.

- OTP-Native Alaskan.1:

Self-Report.

- OTP-Native Alaskan.2:

Tribal Identification

122

Section

Question or purpose of data field

Response

Verification.

- OTP-Native Hawaiian.1:

Self-Report.

- OTP-Native Hawaiian.2:

Origins Identification

Verification.

- Separately approved

assessment

methodology.

If “Separately approved assessment methodology”:

NA-NC03.1

Identify the assessment

methodology(ies) approved by the CDFI

Fund.

Provide narrative.

NATIVE AMERICAN CDFI DESIGNATION – NATIVE COMMUNITIES ACCOUNTABILITY

Section

Question or purpose of data field

Response

NA-CA01

Identify the Applicant’s Native Communities method

of accountability.

Select one:

- Governing board.

- Governing board and

advisory board.

- Advisory board and

credit union

membership (credit

union only).

- Advisory board only

(DIHCs, IDIs, and

those with no formal

governing board

only).

NA-CA02

Will the Applicant use its governing board to

maintain its Native Communities accountability?

Yes or No.

NA-

CA02.1

If “Yes,” identify the board that will be

used as a means of accountability.

Select board name from

AMIS Board Record.

NA-CA03

Will the Applicant use credit union membership and

an advisory board to maintain Native Communities

accountability?

Yes or No.

If “Yes”:

NA-CA03.1

Enter the total number of credit union

members active with the Applicant as

of the last day of the end of the most

recently completed Fiscal Year prior to

submission of the Application.

Enter number.

NA-CA03.2

Identify the Native Community(ies)

that will be used to demonstrate

Native Community accountability

Select all that apply:

- Native American

areas defined as

123

Section

Question or purpose of data field

Response

through credit union membership.

federally designated

reservation(s).

- Hawaiian

homeland(s).

- Alaska Native

Village(s).

- U.S. Census Bureau-

designated Tribal

Statistical Area(s).

NA-CA03.3

Enter the total number of credit union

members who are members of the

Native Community(ies) identified in

NA-CA03.2.

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 the

Native Community(ies) identified in

NA-CA03.2.

[Auto-calculated.]

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(ies).

Yes or No.

If “No,” the advisory board

and credit union

membership Native

Communities level method

of Accountability cannot be

used.

NA-CA04

Will the Applicant use an advisory board to maintain

its Native Community accountability?

Yes or No.

If “Yes”:

NA-CA04.1

Identify that advisory board.

Select Board Name from

AMIS Board record.

NA-CA04.2

Does the Applicant have an advisory

board policy that has been board

approved?

Yes or No.

If “No,” the Applicant is

unable to use an advisory

board.

If “Yes”:

NA-CA04.2a

Does the policy

describe the role of

the advisory board?

Yes or No.

If “No,” the Applicant is

unable to use an advisory

board for Accountability

NA-CA04.2b

Does the policy

require that the

advisory board be

made up of no less

than five members

Yes or No.

If “No,” the Applicant is

unable to use an advisory

board for Accountability.

124

Section

Question or purpose of data field

Response

that are appointed

through a duly

documented action of

the governing board?

NA-CA04.2c

Does the policy

describe a formal

mechanism for input

from the advisory

board to the

governing leadership?

Yes or No.

If “No,” the Applicant is

unable to use an advisory

board for Accountability.

NA-CA04.2d

Does the policy

describe how the

advisory board seeks

input from, and/or

reviews data on the

financial needs and

opportunities in the

Native

Community(ies) for

which it provides

accountability?

Yes or No.

If “No,” the Applicant is

unable to use the advisory

board as a means of

Accountability.

NA-CA04.2e

Does the policy state

the advisory board

meets at least three

times a year?

Yes or No.

If “No,” the Applicant is

unable to use the advisory

board as a means of

Accountability.

NA-CA04.2f

Attach the board-

approved advisory

board policy.

Attach document(s).

Applicants will enter all relevant board member data in questions NA-CA05 through 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 this person’s

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

125

Section

Question or purpose of data field

Response

accountable.

NA-CA09

Does the board member or any member of this

person’s family, individually or in combination,

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.

NA-CA10

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.

NA-

CA10.1

If “Yes,” does the Applicant have

policies requiring such board members

to recuse themselves from any decision

or meeting that may involve decisions,

directly or indirectly, on their Financial

Product or relationship?

If “No,” 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 all that apply:

- Native Community

Geography.

- Native Community

Population.

Source of Accountability – Native Community Geography

Questions NA-CA12 through NA-CA16 will be asked only for board members identified as accountable

to a Native Community Geography.

NA-CA12

What sources of accountability does the board

member use to demonstrate that they are currently

connected to a Native Community geography?

Select all that apply:

- Primary residence in

a Native Community

geography.

- Owner of a small

business primarily

located in Native

Community

geography.

- Owner of a small

business that

principally employs

and/or principally

provides goods or

services to residents

of a Native

Community

geography.

126

Section

Question or purpose of data field

Response

- Elected tribal

government official

serving the Native

Community.

- Staff member of a

non-Affiliated, third-

party, 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 the board member resides.

Enter FIPS code.

(Include leading zeros where

appropriate.)

NA-CA14

If the board member is identified as accountable as 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

Does the business have multiple

locations (e.g., a franchise)?

Yes or No.

If “Yes”:

NA-CA14.3a

Are at least 51% of the

businesses located in

a qualified Native

Community census

tract?

Yes or No.

NA-CA14.3b

Create a map in CIMS

to provide the census

tracts for the business

locations, and enter

the name of the map.

Enter map name.

If “No”:

NA-CA14.3c

Is the business located

in a qualified Native

Community census

tract?

Yes or No.

NA-CA14.3d

What is the FIPS code

of the business

location?

Enter the business FIPS code.

NA-CA14.4

If the small business(es) is not

Yes or No.

127

Section

Question or purpose of data field

Response

primarily located in a Native

Community, does the business

principally employ residents of a

Native Community geography(ies)?

If “Yes”:

NA-CA14.5

Describe how the small business

demonstrates that it principally

employs residents of a Native

Community(ies).

Provide narrative.

NA-CA14.6

If the small business(es) is not

primarily located in a Native

Community census tract(s), does the

small business(es) principally provide

goods or services to residents of a

Native Community geography(ies)?

Yes or No.

If “Yes”:

NA-CA14.7

Create a map(s) in CIMS of the

geography(ies) served by the small

business(es), and enter the name of

the maps(s).

Enter map(s) name.

NA-CA14.8

If the map does not clearly evidence

primarily serving qualified census

tracts, describe how the business

demonstrates that it provides goods

and services to residents of a Native

Community geography(ies).

Provide narrative.

NA-CA15

If the board member is an elected tribal government official serving the Native

Community geography:

NA-CA15.1

Provide the elected tribal government

official’s office and jurisdiction.

Enter office and jurisdiction.

NA-CA16

If the board member is accountable to a Native Community geography as a staff

member of a non-Affiliated, third-party, community development mission-driven

organization that primarily provides services to residents of the Native Community

geography:

NA-CA16.1

Provide the name of the non-Affiliated

third-party organization.

Enter name.

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 the board

member to be connected to the

Provide description.

128

Section

Question or purpose of data field

Response

Native Community geography that

consists of Native census tracts.

Source of Accountability – Native Community Population

Question NA-CA17 will be asked only for board members identified as accountable to a Native

Community Population.

NA-CA17

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.)

Select all that apply:

- OTP-Native American.1:

Self-Report.

- OTP-Native American.2:

Tribal Identification

Verification.

- OTP-Native Alaskan.1:

Self-Report.

- OTP-Native Alaskan.2:

Tribal Identification

Verification.

- OTP-Native Hawaiian.1:

Self-Report.

- OTP-Native Hawaiian.2:

Origins Identification

Verification.

- Separately approved

assessment

methodology.

NA-NC17.1

If “Separately approved assessment

methodology”: identify the

assessment methodology(ies)

approved by the CDFI Fund.

Enter “Separately approved

methodology.”

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.