Form CDFI Form 0005 CDFI Form 0005 Certification Application

The mission of the CDFI Fund is to expand economic opportunity for underserved people and communities by supporting the growth and capacity of a national network of community development lenders, investors and financial service providers.

COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CERTIFICATION

“CDFI Certification” or “CDFI Certified” is defined as the official U.S. Department of the Treasury designation issued by the CDFI Fund to entities that provide financing activities to underserved people and communities. CDFI Certification does not constitute an opinion by the CDFI Fund as to the effectiveness or financial viability of an entity.

In order to be certified as a CDFI, an entity must meet each of the following criteria¹:

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-length², on-balance sheet³ Financial Products⁴ 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-governmental⁵ entity.

KEY DEFINITIONS

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

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KEY DEFINITIONS FOR IDENTIFYING AFFILIATES/SUBSIDIARIES

Affiliate: a company or entity that Controls, is Controlled by, or operates under common Control with another company.

Subsidiary: a company that is owned or Controlled directly, or indirectly, by another company.

Control, Controlled or Controlling:

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;
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
Power to exercise, directly or indirectly, a controlling influence over the management, credit, or investment decisions or policies of any company.

Spinoff: A newly created entity formed by one or more separate entities that has received the financing assets and activities of the original entity(ies) for the purpose of continuing such financing activities and becoming a Certified CDFI.

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KEY DEFINITIONS OF REGULATED FINANCING ENTITIES

Depository Institution Holding Company (DIHC): a bank holding company or a savings and loan holding company, as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(1)).

Insured Depository Institution (IDI): any bank or thrift with deposits insured by the Federal Deposit Insurance Corporation.

Insured Credit Union: any credit union with member accounts insured by the National Credit Union Share Insurance Fund.

State-Insured Credit Unions: credit unions that are regulated by and/or have insurance for their member accounts from a state agency or instrumentality.

State: refers to any of the 50 U.S. states, the District of Columbia or any territory of the United States, Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and Northern Mariana Islands.

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ELIGIBLE FINANCIAL SERVICES

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

Checking accounts;
Savings and share accounts;
Check cashing;
Money orders;
Certified checks;
Automated teller machines;
Money market accounts;
Safe deposit box services; and
Any similar services not listed above must be specially approved by the CDFI Fund to be recognized as a Financial Service).

The CDFI Fund recognizes all of the above Financial Services for the purpose of the CDFI Certification criterion, except the Target Market test. For the purposes of the Target Market criterion, only the direct holding of depository accounts will be accepted as an eligible Financial Service. Depository accounts include: savings/share accounts, checking accounts, certificates of deposit, and money market accounts.

ELIGIBLE FINANCIAL PRODUCTS

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

Loans;
Equity Investments;
Loan guarantees;
Forgivable loans that require at least one payment within 12 months of the loan closing date;
Purchase of loans originated by Certified CDFIs;
Purchase of loans originated by entities that do not have the CDFI Certification, but were made to members of the Applicant’s Target Market(s);
Credit cards;
Lines of credit; and
Debt with equity features.

Unless otherwise indicated, to be recognized as a Financial Product the related transactions must be arm’s-length and on-balance sheet. Financial Product transactions originated during the reporting fiscal year that may have been sold or paid off by the last day of the reporting fiscal year should be included in the Financial Product activity data, even though they no longer appear on-balance sheet.

Any similar financing activity not listed above must be approved separately by the CDFI Fund to be recognized as a Financial Product. If the Applicant is uncertain the Financial Product it offers aligns with the Financial Product type(s) listed above, the Applicant should obtain clarification. To obtain clarification, the Applicant must submit a Service Request in AMIS in advance of an Application submission for the CDFI Fund’s consideration.

OBTAINING PRE-APPPROVAL TO INCLUDE SIMILAR FINANCIAL PRODUCTS, SIMILAR FINANCIAL SERVICES, NEW TARGETED POPULATIONS, OR DEVELOPMENT SERVICES

Applicants seeking approval to include Financial Products, Financial Services, new Targeted Populations, or Development Services that are not currently recognized or previously approved by the CDFI Fund, must submit a Service Request in AMIS for the CDFI Fund’s consideration in advance of an Application submission. The request must include the name and description of the Financial Product, Financial Service, Targeted Population, and/or Development Service being proposed. Applicants should provide a narrative describing the significant unmet capital, financial services and/or development services needs as rationale for the request. Any supporting evidence (e.g., study, survey) must have been conducted within the past five years, from a third-party source, and pertain specifically to the proposed request.

ADDITIONAL AND ALTERNATIVE REQUIREMENTS AND PROVISIONS BY CDFI TYPE

REQUIREMENTS FOR DEPOSITORY INSTITUTION HOLDING COMPANIES (DIHCs), AFFILIATES OF DIHCs, AND SUBSIDIARIES OF INSURED DEPOSITORY INSTITUTIONS (IDIs)

If the entity seeking CDFI Certification is a Depository Institution Holding Company (DIHC), an Affiliate of a DIHC, or a Subsidiary of an Insured Depository Institution (IDI), it must meet the CDFI Certification requirements based on a review of its compliance with those requirements, as well as a collective review of the following Affiliates:

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

If an Applicant is a DIHC, any Affiliate that the Applicant Controls that directly engages in the provision of Financial Products and/or Financial Services; or

Any Affiliate that is mutually Controlled with the Applicant by a DIHC or an IDI and that directly engages in the provision of Financial Products and/or Financial Services.

DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs may obtain or maintain CDFI Certification only if:

they individually meet each of the CDFI Certification requirements (DIHCs can meet the Target Market requirements based on the activity of an Affiliate(s));

all of their relevant Affiliates individually meet Primary Mission, Accountability, and Development Services requirements; and

they and their relevant Affiliate(s) meet the Target Market Test in the aggregate.

PRIMARY MISSION REQUIREMENTS FOR CERTIFICATION APPLICANTS WITH AFFILIATES

For DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs, including Subsidiaries of a Tribal Government, the CDFI Certification Primary Mission requirements must be met by all relevant Affiliates, as described in the “Requirements for DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs” above, to the collective CDFI certification review.

For all other Applicants, the CDFI Certification Primary Mission requirements must be met by any Affiliate of the Applicant that Controls the Applicant or that directly engages in the provision of Financial Products and/or Financial Services.

For more information, see the Primary Mission section of the Application form and the guidance materials.

ADDITIONAL PROVISIONS FOR MEETING THE CDFI CERTIFICATION REQUIREMENTS

The following policies detail how different types of entities can meet the CDFI Certification requirements in a manner consistent with their structure:

ENTITIES CONTROLLED BY TRIBAL GOVERNMENTS – PRIMARY MISSION REQUIREMENTS

Entities Controlled by a Tribal Government are eligible to apply for CDFI Certification. Indian tribes are not agencies or instrumentalities of the U.S. or any State. An entity’s affiliation with a Tribal Government will not affect its ability to meet the non-governmental entity criteria.

The CDFI Certification Applicant and/or relevant Affiliates that are Controlled by a Tribal Government will need to demonstrate that it meets the Primary Mission requirements; the Tribal Government is not required to meet Primary Mission requirements.

DEPOSITORY INSTITUTION HOLDING COMPANIES (DIHCs), INSURED DEPOSITORY INSTITUTIONS (IDIs), INSURED CREDIT UNIONS, AND STATE-INSURED CREDIT UNIONS – FINANCING ENTITY REQUIREMENTS

As regulated and insured financial institutions, DIHCs, IDIs, Insured Credit Unions, and State-Insured Credit Unions automatically meet the CDFI Certification Financing Entity requirements, provided they have been engaged in eligible financing for at least one full fiscal year prior to submission of the Application.

DIHCs that do not engage in their own Financial Product or Financial Services activity – TARGET MARKET REQUIREMENTS

A DIHC that does not directly provide Financial Products or Financial Services may meet the Target Market requirements by relying on the collective activity of its Affiliates, if:

the DIHC’s legal entity documentation is dated at least 12 months prior to the submission of the CDFI Certification Application; and
at least one Affiliate has been engaged in closing Financial Products transactions or completing Financial Services activities for at least one full fiscal year prior to submission of the Application.

ENTITIES APPLYING FOR CERTIFICATION SOLELY FOR PARTICIPTION AS ELIGIBLE CDFIS IN THE CDFI BOND GUARANTEE (BG) PROGRAM – FINANCING ENTITY AND ARM’S-LENGTH TRANSACTION REQUIREMENTS

Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI Bond Guarantee Program (BG Program) that are unable to meet CDFI Certification Financing Entity requirements based on their own status, will be considered Financing Entities if they are Controlled by a Certified CDFI. Such entities may also need to meet additional parameters and restrictions established via the applicable Notice of Guarantee Availability for the particular CDFI Fund BG Program Application round (see 12 CFR 1805.201(b)(2)(C)(ii)).

Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI BG Program must be Controlled by a Certified CDFI and meet CDFI Certification requirements using on-balance sheet Financial Product activity and Development Services activity that is not arm’s-length, provided that the activity is by and between such entities and their Controlling Certified CDFIs. Such activity must be pursuant to operating agreements that include management and ownership provisions, and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(iii)).

Entities certified under this provision are not eligible for CDFI Fund funding programs other than the BG Program. If such an entity seeks access to other CDFI Fund programs, it must apply for CDFI Certification using the regular Application process and demonstrate it meets all of the regular requirements for CDFI Certification.

SPINOFF ENTITIES – PRIMARY MISSION, FINANCING ENTITY AND TARGET MARKET REQUIREMENTS

An entity spun off from one or more non-CDFI certified entities that offer arm’s-length, on-balance sheet Financial Products is eligible to seek CDFI Certification, even if it has less than one full fiscal year financing activity of its own. Such entities must be able to meet the requirements of the CDFI Certification provision for Spinoff entities outlined in the Financing Entity and Target Market sections.

In addition, if an Applicant seeks to use the CDFI Certification provision for Spinoff entities, it must meet the Primary Mission timeframe requirement by demonstrating that either the Applicant, or an entity from which the Applicant received Financial Products, had an appropriate primary mission of community development in place throughout the six full months completed immediately prior to submission of the CDFI Certification Application.

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

For more detail on these policies, please see the instructions for each relevant CDFI Certification criterion in the CDFI Certification Application form, and in the guidance materials.

OTHER CONDITIONS

ACCOUNTABILITY REQUIREMENTS – FINANCIAL INTEREST POLICY

Governing Board and Advisory Board members who are principals⁶ or staff members of the Applicant organization or its Subsidiaries, Affiliates, or whose family members are principals or staff members, cannot be used to demonstrate Target Market Accountability.

Target market - Transaction Level Report

All Applicants must complete and submit a Transaction Level Report (TLR) before beginning an Application for CDFI Certification. The TLR is a data collection tool that provides a method to evaluate the extent to which an entity serves distressed areas and underserved populations. Data provided through the TLR will be used to determine the share of an entity’s Financial Products and/or Financial Services that are deployed to the entity’s proposed Target Market(s). For additional information on the TLR, review the related CDFI Transaction Level Report documents.

TRANSITION FROM GOVERNMENT CONTROL TO NON-GOVERNMENTAL ENTITY

If an Applicant was previously Controlled by a government or government-Controlled entity, it can demonstrate that it is no longer controlled by a government entity if its governance, organizing documents, and board’s activities demonstrate that it allows for an election or appointment of a non-governmentally controlled board, and such board remains non-governmentally controlled for one year from the date of the change. The date and authorizing signature of approval of the non-governmentally controlled board must be clearly displayed in the organizing documents.

OBTAINING PRE-APPROVAL FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES, TARGET MARKETS AND TARGET MARKET ASSESSMENT METHODS

The CDFI Certification Application identifies the list of Financial Products, Financial Services, Target Market and Target Market assessment methodologies approved by the CDFI Fund. Approved Financial Products, Financial Services, and Target Market assessment methodologies must be used exactly as approved, unless and until modification of the method is authorized by the CDFI Fund.

If an Applicant seeks recognition of an additional Financial Product or Financial Service, or use of an alternative or modified Target Market assessment method, it can submit a service request through AMIS for the CDFI Fund’s consideration. If new Financial Products, Financial Services, or assessment methodologies are approved, the CDFI Fund will update the list of pre-approved Financial Products, Financial Services, or assessment methodologies as appropriate, so that they are made available to other Applicants and Certified CDFIs as well.

APPLICATION PROCESS

Review the “Certification as a Community Development Financial Institution” and “Definitions” sections of the CDFI Program Revised Interim Regulations, 12 CFR Part 1805, available on the CDFI Fund’s public website—www.cdfifund.gov. Note, capitalized words or phrases throughout the CDFI Certification Application are defined terms that can be found in the Interim Regulation or the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4701 et seq.).

Review the Application and supplemental Application guidance documents provided on the CDFI Fund’s CDFI Certification webpage.

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

Create or access an existing account for the Applicant entity in AMIS using the guidance materials located on the CDFI Fund’s webpage.

Review and update the Applicant’s Employer Identification Number (EIN) on the organization detail page in AMIS, if needed. Note: Each CDFI Certification Applicant must have its own valid EIN and be a legal entity at the time it submits the CDFI Certification Application. The EIN documentation provided in the “Legal Entity” section must match the organization’s name and EIN in AMIS.
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.

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.

Applicants must provide additional Basic Information and Legal Entity documentation for relevant Affiliates in the Applicant’s account in AMIS and/or within the CDFI Certification Application. Note: Legal documents not written in English must be translated.

Review and update information on Applicant’s relevant Affiliates in AMIS, as needed.

Applicant must determine if its Financial Products, Financial Services, Target Market and Target Market assessment methods match the CDFI Fund’s pre-approved lists, or request their approval from the CDFI Fund, prior to submitting the Application. If any Financial Product, Financial Service, Target Market, or Target Market assessment methods are not used by the Applicant as approved by the CDFI Fund, the Applicant is prohibited from presenting them in the CDFI Certification Application. See “Obtaining Pre-Approval for Financial Products, Financial Services, Target Markets, and Target Market Assessment Methods” p. 8.

Upload transactional data to the Transaction Level Report (TLR) collection tool that supports the proposed Target Market and Accountability criteria using the eligible American Community Survey (ACS) dataset approved by the CDFI Fund. Note: This step must be completed BEFORE beginning the Application.

Manual TLR data entry – To manually enter transactions, select the “CDFI TLR” tab in AMIS.
File upload of data – To upload a file of transaction records, select “TLR Import/Export/Certify” tab in AMIS.

If required, create a Target Market map(s) using the guidance materials for the CDFI Fund’s Community Impact Mapping System (CIMS). The Applicant will not be able to attach or submit a map that has not been created in AMIS. If an AMIS-created map is not created, or the analysis demonstrates that the geography is not eligible, the respective Target Market will not be approved.

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.

Submit the CDFI Certification Application in AMIS. Upon submission of the CDFI Certification Application, the Applicant’s contacts identified in AMIS will receive notification that the Application has been received.

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

If approved, a CDFI Certification Agreement for approved Applications and a Certified CDFI Logo toolkit will be sent to the Applicant’s Authorized Representative via email. An Authorized Representative must electronically review, sign and return the CDFI Certification Agreement within ten (10) business days via AMIS. A copy of the executed Agreement will be available in their AMIS account for future reference. Note: Upon Certification, certain organizational information about the Applicant and its activities may be posted on the CDFI Fund’s public website for the purpose of creating a public list and description of Certified CDFIs. A copy of the CDFI Certification Agreement can be found on the CDFI Fund website.

If declined, a determination letter will be sent to the Applicant’s Authorized Representative via email. Applicants that receive denials can request a debriefing through the submission of a Service Request via AMIS. New CDFI Certification Applications can be submitted with or without a debriefing.

Upon Certification, the CDFI shall comply with all record retention and access requirements set forth in the Uniform Requirements at 2 C.F.R. 200.334-338. Public access to Recipient records shall be maintained in accordance with the Uniform Requirements at 2 C.F.R. 200.337, including access applicable under the Freedom of Information Act (5 U.S.C. § 552) (FOIA). The CDFI shall maintain all CDFI Certification-related records for a minimum of ten years after submission of the document(s) or record(s) to the CDFI Fund. The CDFI shall maintain documentation supporting the data reported to the CDFI Fund.

Upon Certification, the CDFI will be required to meet annual reporting requirements through the submission of an Annual Certification and Data Collection Report and Transaction Level Report, no later than 180 days after its fiscal year end or as requested by the CDFI Fund.

In addition to the above, all Applicants should note the following:

Applications may be rejected if they contain inconsistencies in the Applicant’s name and in related or required documents.

Applications that contain incomplete or inaccurate information may be declined for CDFI Certification without a full review.

Upon designation as a Certified CDFI, entities must continue to meet all Certification requirements. The CDFI Certification can be revoked if the entity fails to provide documentation demonstrating it meets the Certification requirements.

In addition, upon Certification, certain organizational information about the Applicant and its activities may be posted on the CDFI Fund’s public website for the purpose of creating a public list and description of Certified CDFIs.

The CDFI Certification status cannot be transferred to another entity. Applicants that are acquired or merge with another entity while the Certification Application review is in progress will not be reviewed, regardless of whether the Applicant is the surviving entity; the merger or acquisition is considered a material event. In such cases, the surviving entity must submit a new Certification Application after the merger or acquisition is consummated.

Additional Questions and Resources

If you have questions regarding the CDFI Certification Application process, you may contact the CDFI Fund Office of Certification Policy and Evaluation team by submitting a Service Request in AMIS.

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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.

Information regarding the CDFI Certification Application and the Application process can also be obtained by visiting the CDFI Fund’s CDFI Certification webpage.

APPLICANT BASIC INFORMATION

The Basic Information section of the CDFI Certification Application collects general information about the CDFI Certification Applicant and its Affiliates that must be reviewed in connection with CDFI Certification requirements. Certain information in this section will be auto-populated based on data from the Applicant’s AMIS account.

To ensure accurate data is auto-populated into the Application’s Basic Information section, Applicant and Affiliate AMIS accounts must be up to date.

To complete the Basic Information section, the Applicant should:

Review auto-populated information in the Basic Information fields for accuracy. If information is missing or inaccurate, submit all updates and make corrections in the Organization Detail Page in AMIS. For assistance with technical issues, submit a Service Request in AMIS.

Complete the unpopulated Basic Information fields.

Attach copies of all required documentation in the Basic Information section of the Application.

The Applicant and/or Affiliate names listed in the Application and in AMIS should match those listed in any uploaded documentation. The Application will be rejected if the names differ, unless sufficient documentation or explanation can be provided.

Section	Question or purpose of data field			Response
	Applicant - Entity Name			[Auto-populated from the Applicant’s AMIS account.]
	Applicant - Financial Institution Type			[Auto-populated from the Applicant’s AMIS account.]
	Applicant – Depository Institution Holding Company			Select Yes or No.
	Applicant – Minority Depository Institution as designated by the FDIC or NCUA			Select Yes or No.
	Applicant – Employer Identification Number (EIN)			[Auto-populated from the Applicant’s AMIS account.]
	Applicant – Unique Entity Identifier			[Auto-populated from Applicant’s AMIS account.]
	Applicant – Date of Incorporation/Organization/Establishment			[Auto-populated from the Applicant’s AMIS account.]
	Applicant – Fiscal Year End Month			[Auto-populated from the Applicant’s AMIS account.]
	Applicant – Fiscal Year End Day			[Auto-populated from the Applicant’s AMIS account.]
	Does the Applicant engage in its own arm’s-length, on-balance sheet Financial Product or Financial Services activity and can it meet the CDFI Certification requirements based on its own Financial Product and/or Financial Services activity?			Select Yes or No.
	BI10.1	If No, identify the CDFI Certification provision(s) the Applicant seeks to use that enables it to use the Financial Product or Financial Services activity of an Affiliate(s) or to use on-balance sheet Financial Product activity that is not arm’s-length to meet the CDFI Certification requirements.		Select one: Applicant is applying for Certification solely to participate in the BG Program and is an Affiliate of a Controlling Certified CDFI. Applicant is a DIHC relying on the activity of an Affiliate(s) to meet the CDFI Certification requirements.
	Have at least 12 full months passed since the date the Applicant’s incorporation/organization/ establishment documentation was filed with or approved by the appropriate authorizing agency?			Yes or No.
	BI11.1	If Yes, what is the earliest date that the Applicant can demonstrate that it closed an arm’s-length, on-balance sheet Financial Product or completed a Financial Services transaction?		Enter date.
	BI11.2	If No, identify the exception(s) to the CDFI Certification requirement that 12 full months must have passed since an entity began its financing activity that the Applicant seeks to use.		Select all that apply: Applicant is participating in the BG Program and is an Affiliate of a Controlling Certified CDFI. Applicant seeks to use the CDFI Certification provision for Spinoff entities. Applicant is a DIHC relying on the activity of an Affiliate(s) to meet the CDFI Certification requirements.
	If the Applicant seeks to use a CDFI Certification provision for entities seeking Certification solely for participating in the CDFI Fund’s Bond Guarantee Program (BG Program): Identify a Certified CDFI that Controls the Applicant.			Select the Certified CDFI Affiliate from Picklist.
	If the Applicant is a DIHC that does not engage directly in the provision of Financial Products and/or Financial Services: Does the Applicant have at least one Affiliate(s) that has engaged in the provision of arm’s-length, on-balance sheet Financial Products or Financial Services for at least one full fiscal year prior to submission of the CDFI Certification Application?			Yes or No.
	Is the CDFI Certification Applicant an Affiliate of a Depository Institution Holding Company (DIHC)?			Yes or No.
	Is the CDFI Certification Applicant a Subsidiary of an Insured Depository Institution (IDI)?			Yes or No.
	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).
	If the Applicant seeks to use the CDFI Certification provision for Spinoff entities:
	BI17.1		Can the Applicant demonstrate that at least one Financial Product it currently offers was transferred to the Applicant by at least one Affiliate?	Yes or No. If No, the Applicant is not eligible to use the CDFI Certification provision for Spinoff entities.
	BI17.2		Can the Applicant demonstrate that at least one of its currently-offered, transferred Financial Products has been offered by the Applicant and/or an original entity from which it received the Financial Product activity for at least one full fiscal year prior to submission of this Application?	Yes or No. If No, the Applicant is not eligible to use the CDFI Certification provision for Spinoff entities.
	BI17.2		Subsequent to the receipt of any transferred Financial Products, can the Applicant demonstrate that it has closed at least one such Financial Product using its own capital?	Yes or No. If No, the Applicant is not eligible to use the CDFI Certification provision for Spinoff entities.
	BI17.3		Can the Applicant demonstrate that for either the Applicant or an Affiliate from which it received Financial Product activity, an acceptable primary mission has been in place for at least the 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.
	Does the Applicant have a parent/controlling entity, or any Affiliates that engage in the provision of Financial Products or Financial Services?			Select Yes or No.
	Applicant bylaws or similar documentation: Attach a copy of the Applicant’s governing or managing board-approved or owner-approved bylaws, partnership agreement, or similar documentation.			Attach documentation.
	Applicant bylaws or similar documentation: Indicate how governing or managing board/owner-approval of the Applicant’s bylaws, partnership agreement, or similar document and the date of approval is evidenced in the attached documentation.			Select all that apply: Documentation indicates the date approved by the governing or managing board or the owner and is signed by an officer(s) of the governing/managing board, owner, or authorized representative. A statement attached to the documentation indicates the date approved by the governing or managing board or owner and is signed by an officer(s) of the governing/managing board, owner, or authorized representative. Official governing/managing board meeting minutes signed by an officer(s) of the governing/managing board show the date of the governing/managing board meeting at which the documentation was approved and clearly indicate governing/ managing board approval of the documentation at that meeting. Other.
	B120.1		If “Other,” explain.	Provide explanation.
	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.
	Designate an Authorized Representative for the CDFI Certification Application.			Select Authorized Representative.
	Designate a Point of Contact for the CDFI Certification Application.			Select Point of Contact.

BASIC INFORMATION – BOARD AND EXECUTIVE STAFF DEMOGRAPHIC INFORMATION

Provide the following information about the members of the Applicant’s Governing Board and Executive Staff.⁷ If a Governing Board or Executive Staff members race and ethnicity are not known, that individual should be counted as “Non-Hispanic White/Non-Minority.”

Section	Question or purpose of data field			Response
BI-DI1		Indicate the total number of Governing Board members.		Enter number.
BI-DI2		Indicate the total number of Governing Board members who identify as a member of a minority population.		Enter number.
BI-DI3		Percentage of Governing Board members who identify as a member of a minority⁸ population.		[Auto-calculated].
		BI-DI3.1	Indicate the number of Governing Board members who identify as Black.	Enter number.
		BI-DI3.2	Percentage of Governing Board members who identify as Black.	[Auto-calculated].
		BI-DI3.3	Indicate the number of Governing Board members who identify as Asian.	Enter number.
		BI-DI3.4	Percentage of Governing Board members who identify as Asian.	[Auto-calculated].
		BI-DI3.5	Indicate the number of Governing Board members who identify as Native American.	Enter number.
		BI-DI3.6	Percentage of Governing Board members who identify as Native American.	[Auto-calculated].
		BI-DI3.7	Indicate the number of Governing Board members who identify as Native Alaskan.	Enter number.
		BI-DI3.8	Percentage of Governing Board members who identify as Native Alaskan.	[Auto-calculated].
		BI-DI3.9	Indicate the number of Governing Board members who identify as Native Hawaiian.	Enter number.
		BI-DI3.10	Percentage of Governing Board members who identify as Native Hawaiian.	[Auto-calculated].
		BI-DI3.11	Indicate the number of Governing Board members who identify as Pacific Islander.	Enter number.
		BI-DI3.12	Percentage of Governing Board members who identify as Pacific Islander.	[Auto-calculated].
		BI-DI3.13	Indicate the number of Governing Board members who identify as Hispanic.	Enter number.
		BI-DI3.14	Percentage of Governing Board members who identify as Hispanic.	[Auto-calculated].
		BI-DI3.15	Indicate the number of Governing Board members who identify as Non-Hispanic White/Non-Minority.	Enter number.
		BI-DI3.16	Percentage of Governing Board members who identify as Non-Hispanic White/Non-Minority.	[Auto-calculated].
BI-DI4		Indicate the number of Governing Board members who identify as female.		Enter number.
BI-DI5		Percentage of Governing Board members who identify as female.		[Auto-calculated].
BI-DI6		Indicate the number of Governing Board members who identify as male.		Enter number.
BI-DI7		Percentage of Governing Board members who identify as male.		[Auto-calculated].
BI-DI8		Indicate the number of Governing Board members who identify as non-binary.		Enter number.
BI-DI9		Percentage of Governing Board members who identify as non-binary.		[Auto-calculated].
BI-DI10		Indicate the total number of Executive Staff.		Enter number.
BI-DI11		Indicate the total number of Executive Staff who identify as a member of a minority population.		Enter number.
BI-DI12		Percentage of Executive Staff who identify as a member of a minority population.		[Auto-calculated].
			Indicate the number of Executive Staff who identify as Black.	Enter number.
			Percentage of Executive Staff who identify as Black.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Asian.	Enter number.
			Percentage of Executive Staff who identify as Asian.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Native American.	Enter number.
			Percentage of Executive Staff who identify as Native American.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Native Alaskan.	Enter number.
			Percentage of Executive Staff who identify as Native Alaskan.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Native Hawaiian.	Enter number.
			Percentage of Executive Staff who identify as Native Hawaiian.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Pacific Islander.	Enter number.
			Percentage of Executive Staff who identify as Pacific Islander.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Hispanic.	Enter number.
			Percentage of Executive Staff who identify as Hispanic.	[Auto-calculated].
			Indicate the number of Executive Staff who identify as Non-Hispanic White/Non-Minority.	Enter number.
			Percentage of Executive Staff who identify as Non-Hispanic White/Non-Minority.	[Auto-calculated].
BI-DI13		Indicate the number of Executive Staff who identify as female.		Enter number.
BI-DI14		Percentage of Executive Staff who identify as female.		[Auto-calculated].
BI-DI15		Indicate the number of Executive Staff who identify as male.		Enter number.
BI-DI16		Percentage of Executive Staff who identify as male.		[Auto-calculated].
BI-DI17		Indicate the number of Executive Staff who identify as non-binary.		Enter number.
BI-DI18		Percentage of Executive Staff who identify as non-binary.		[Auto-calculated].
BI-DI19		Indicate the race/ethnicity of the Applicant’s Chief Executive Officer/Executive Director.		Select all that apply: White Black Asian Native American Native Alaskan Native Hawaiian Pacific Islander Hispanic
BI-DI20		Indicate the gender of the Applicant’s Chief Executive Officer/Executive Director.		Select one: Female Male Non-Binary

BASIC INFORMATION – AFFILIATES

CDFI Certification Applicants that have Affiliates relevant to the CDFI Certification review, as indicated below, must identify those Affiliates and present information regarding them in the Affiliates section of the Application, and elsewhere, as noted in the different section instructions.

In order for Affiliate information to auto-populate the CDFI Certification Application, where indicated, an Affiliate record must be created on the Applicant’s AMIS Organization Profile page.

DIHCs or Affiliates of DIHCs

If the Applicant is a DIHC or an Affiliate of a DIHC, it must identify any Affiliate in its family of entities that meets any of the following criteria:

The Affiliate directly engages in Financial Product and/or Financial Services activity and the Applicant is a DIHC that Controls the Affiliate;

The Affiliate is a DIHC that Controls the Applicant; or

The Affiliate directly engages in Financial Product and/or Financial Services activity and the Affiliate and the Applicant are under the mutual Control of a DIHC.

Subsidiaries of IDIs

If the Applicant is the Subsidiary of an IDI, it must identify any Affiliate in its family of entities that meets any of the following criteria:

The Affiliate is an IDI that Controls the Applicant; or

The Affiliate directly engages in Financial Product and/or Financial Services activity and the Affiliate and the Applicant are under the mutual Control of an IDI.

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

In addition to presenting Affiliates relevant to any alternative CDFI Certification provision, a CDFI Certification Applicant that is not a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, must identify any Affiliate in its family of entities that meets any of the following criteria for consideration in connection with the Primary Mission requirements:

The Affiliate Controls the Applicant, except if the Controlling entity is a Tribal Government;

The Affiliate directly engages in Financial Product and/or Financial Services activity and the Applicant and the Affiliate are under the mutual Control of another entity; or

The Affiliate directly engages in Financial Product and/or Financial Services activity and the Applicant Controls the Affiliate.

Applicants seeking Certification solely for participating in the CDFI Fund’s Bond Guarantee Program (BG Program)

Applicants seeking to use the CDFI Certification provision for entities seeking Certification solely for participating in the CDFI Fund’s BG Program must, in addition to presenting Affiliates relevant to other CDFI Certification requirements, present information on their Controlling Certified CDFI(s).

Spinoff Entities

Applicants seeking to use the CDFI Certification provision for Spinoff entities, must identify and present for review the original entity(ies) from which they received spun-off Financial Product or Financial Services activity.

Section	Question or purpose of data field		Response
BI-A01	Affiliate – Entity Name		Identify Affiliate.
BI-A02	Affiliate – Employer Identification Number (EIN)		[Auto-populated from the Applicant’s AMIS account.]
BI-A03	Affiliate – Unique Entity Identifier		[Auto-populated from the Applicant’s AMIS account.]
BI-A04	Affiliate – Date of Incorporation/Organization/Establishment		[Auto-populated from the Applicant’s AMIS account.]
BI-A05	Is the Affiliate a Certified CDFI?		Yes or No.
	If Yes:
	BI-A05.1	Does the Applicant seek to use the CDFI Certification provision for BG Program participation, solely to participate in the CDFI Fund’s BG Program?	Yes or No.
	BI-A05.2	Does the Affiliate Control the Applicant?	Yes or No.
BI-A06	Is the Affiliate a Certified Community Development Entity (CDE)?		Yes or No.
BI-A07	Is the Affiliate’s sole line of business the administration of another federal financing program(s)?		Yes or No.
	If Yes:
	BI-A07.1	Identify the other federal financing program(s).	Enter name(s).
BI-A08	If the Applicant is a DIHC or an Affiliate of a DIHC: Identify the relationship between the Applicant and the Affiliate.		Select one: The Affiliate is a DIHC that Controls the Applicant. The Affiliate directly engages in Financial Product and/or Financial Services activity and it and the Applicant are under the mutual Control of a DIHC. The Affiliate directly engages in Financial Product and/or Financial Services activity and the Applicant is a DIHC that controls the Affiliate.
BI-A09	If the Applicant is a Subsidiary of an IDI: Identify the relationship between the Applicant and the Affiliate.		Select one: The Affiliate is an IDI that Controls the Applicant. The Affiliate directly engages in Financial Product and/or Financial Services activity and it and the Applicant are under the mutual Control of an IDI.
BI-A10	If the Applicant is not a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI: Identify the relationship between the Applicant and the Affiliate.		Select one: The Affiliate Controls the Applicant (do not include Tribal Governments). The Affiliate is Controlled by the Applicant and directly engages in the provision of Financial Products and/or Financial Services. The Affiliate and Applicant are mutually Controlled by another entity and the Affiliate directly engages in the provision of Financial Products and/or Financial Services.
BI-A11	If the Applicant seeks to use the CDFI Certification provision for Spinoffs in order to meet the Financing Entity and Target Market criteria: Identify the relationship between the Applicant and the original entity from which it received Spinoff Financial Product activity.		Select one: The entity Controlled the Applicant at the time it transferred Financial Product activity to the Applicant. The entity was Controlled by the Applicant at the time it transferred Financial Product activity to the Applicant. The entity and Applicant were mutually Controlled by another entity at the time it transferred Financial Product activity to the Applicant.
BI-A12	If the Applicant relies on the Affiliate to provide Development Services and the Affiliate 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-A13	If the Applicant seeks to use the CDFI Certification provision for BG Program participation, solely to participate in the CDFI Fund’s BG Program and such Affiliate is a Certified CDFI that Controls the Applicant: What is the earliest date that the Affiliate can demonstrate that it closed an arm’s-length, on-balance sheet Financial Product or completed a Financial Services transaction?		Enter date.
BI-A14	If the Applicant is a DIHC that is relying on the activity of its Affiliate(s) to meet the Target Market requirements: Is this Affiliate a depository institution that currently provides Financial Services?		Yes or No.
BI-A15	If the Applicant seeks to use the CDFI Certification provision for Spinoff entities and the Applicant received spin-off Financial Product activity from this entity: Is the Applicant currently offering at least one arm’s-length, on-balance sheet Financial Product that was spun off t by the original entity?		Yes or No. If No, the Applicant is not eligible to use the special CDFI Certification provision for Spinoff entities.
	If Yes:
	BI-A15.1	Identify at least one Financial Product that was spun off to the Applicant by the original entity.	Enter name.
	BI-A15.2	Provide the earliest date the original entity can demonstrate it closed a spin off Financial Product currently offered by the Applicant.	Enter date.
If the Applicant has multiple Affiliates that need to be reviewed in connection with one or more of the CDFI Certification requirements, repeat the “Affiliate – Basic Information” data entry for each applicable Affiliate.

APPLICANT – FINANCIAL PRODUCTS AND FINANCIAL SERVICES BASIC INFORMATION

To be eligible for CDFI Certification, an entity must provide at least one Financial Product or be eligible to rely on the Financial Product activity of an Affiliate(s).

Financial Services can be used to meet the CDFI Certification requirements by depository institutions (i.e., bank/thrifts, credit unions, or bank/thrift holding companies) only.

BASIC INFORMATION - FINANCIAL PRODUCT INFORMATION – APPLICANT

Section	Question or purpose of data field	Response
BI-FP01	Is the Applicant a DIHC that does not directly offer any arm’s-length, on-balance sheet Financial Products?	Yes or No.
BI-FP02	Is the Applicant a participant in the CDFI Fund’s BG Program and seeks to use the CDFI Certification provision for such entities that allows on-balance sheet Financial Product activity that is not arm’s-length to meet the CDFI Certification requirements solely for the purposes of participating in the BG Program?	Yes or No.

Section

Question or purpose of data field

Response

BI-FP01

Is the Applicant a DIHC that does not directly offer any arm’s-length, on-balance sheet Financial Products?

Yes or No.

BI-FP02

Is the Applicant a participant in the CDFI Fund’s BG Program and seeks to use the CDFI Certification provision for such entities that allows on-balance sheet Financial Product activity that is not arm’s-length to meet the CDFI Certification requirements solely for the purposes of participating in the BG Program?

Yes or No.

For each of the Applicant’s Financial Product purposes, complete “Basic Information – Financial Product Information – Table 1” with information on all of the Applicant’s arms-length Financial Products.

(Simulated Table – Actual display may differ)

Basic Information Table 1: Financial Product Information
Financial Product Purpose	Financial Product Transaction Type (Select all that apply)	Financial Product Names	Enter Financing Amount Offered (Minimum)	Enter Financing Amount Offered (Maximum)	Enter Minimum Interest Rate at Origination	Enter Maximum Interest Rate at Origination	Enter Weighted Average Interest Rate	Enter Repayment Period (Minimum)	Enter Repayment Period (Maximum)
Home Purchase Home Improvement Real Estate–Construction/ Permanent/ Acquisition w/o Rehabilitation–Commercial Real Estate–Construction—Housing-Multi Family Real Estate—Construction–Housing–Single Family Real Estate—Rehabilitation–Commercial Real Estate—Rehabilitation—Housing—Multi Family Real Estate—Rehabilitation—Housing—Single Family Consumer Non-Real Estate Business Non-Real Estate Microenterprise Climate-Centered Finance Other	-Loans -Lines of credit -Credit Card -Equity Investments -Debt with Equity features -Loan guarantees -Loans purchased from Certified CDFIs -Loans directed to the Applicant’s proposed Target Market purchased from entities without CDFI Certification -Other similar financing (pre-approved by the CDFI Fund)

Basic Information Table 1: Financial Product Information

Financial Product Purpose

Financial Product Transaction Type (Select all that apply)

Financial Product Names

Enter Financing Amount Offered (Minimum)

Enter Financing Amount Offered (Maximum)

Enter Minimum Interest Rate at Origination

Enter Maximum Interest Rate at Origination

Enter Weighted Average Interest Rate

Enter Repayment Period (Minimum)

Enter Repayment Period (Maximum)

Home Purchase

Home Improvement
Real Estate–Construction/ Permanent/ Acquisition w/o Rehabilitation–Commercial
Real Estate–Construction—Housing-Multi Family
Real Estate—Construction–Housing–Single Family
Real Estate—Rehabilitation–Commercial
Real Estate—Rehabilitation—Housing—Multi Family

Real Estate—Rehabilitation—Housing—Single Family
Consumer
Non-Real Estate Business
Non-Real Estate Microenterprise
Climate-Centered Finance
Other

-Loans

-Lines of credit

-Credit Card

-Equity Investments

-Debt with Equity features

-Loan guarantees

-Loans purchased from Certified CDFIs

-Loans directed to the Applicant’s proposed Target Market purchased from entities without CDFI Certification

-Other similar financing (pre-approved by the CDFI Fund)

BI-FP03	If “Other” was selected for Financial Product Purpose describe the purpose.		Provide description.
BI-FP04	If “Other similar financing” was selected as a Financial Product transaction type: Has the “Other similar financing” been pre-approved as an eligible new Financial Product category by the CDFI Fund?		Yes or No. If No, the Applicant cannot include the financing as an eligible Financial Product.
	If Yes:
	BI-FP04.1	Provide the name of the new Financial Product category exactly as it appears in the approval letter from the CDFI Fund.	Enter name.
	BI-FP04.2	Attach approval letter evidencing the CDFI Fund’s approval of the “other similar financing” product.	Attach documentation.
BI-FP05	Are the listed Financial Products offered directly by the Applicant?		Yes or No. If No, only a DIHC Applicant may include the Financial Products as eligible Financial Products.
BI-FP06	Are the listed Financial Products on-balance sheet for the Applicant?		Yes or No. If No, only a DIHC Applicant may include the Financial Products as eligible Financial Products.
BI-FP07	Are the listed Financial Product(s) offered by the Applicant at arm’s-length?		Yes or No. If No, the Applicant cannot include the Financial Products as eligible Financial Products.
BI-FP08	What is the earliest date that the Applicant can demonstrate that it closed an arm’s-length, on-balance sheet transaction with its Financial Product?		Enter date.

BASIC INFORMATION – FINANCIAL SERVICES INFORMATION – APPLICANT

Section	Question or purpose of data field	Response
BI-FS01	Does the Applicant offer Financial Services?	Yes or No.
BI-FS02	If the Applicant is a DIHC, does it directly offer any Financial Services?	Yes or No.

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.

If the Applicant engages in the direct provision of Financial Services Complete “Basic Information – Financial Services Information – Table 1” with information on all of the listed Financial Services offered directly by the Applicant:

(Simulated Table – Actual display may differ)

Basic Information Table 2: Financial Services Information
Financial Services Category (Select all that apply)	Financial Services Names
-Savings and Share Accounts -Checking Accounts -Certificates of Deposit -Money Market Accounts -Check Cashing

Basic Information Table 2: Financial Services Information

Financial Services Category (Select all that apply)

Financial Services Names

-Savings and Share Accounts

-Checking Accounts

-Certificates of Deposit

-Money Market Accounts

-Check Cashing

BI-FS03	Are the selected Financial Service categories ones that the Applicant offers directly?	Yes or No.
BI-FS04	Provide the earliest date a Financial Services transaction was completed.	Enter date.

BI-FS03

Are the selected Financial Service categories ones that the Applicant offers directly?

Yes or No.

BI-FS04

Provide the earliest date a Financial Services transaction was completed.

Enter date.

BASIC FINANCIAL PRODUCT INFORMATION – AFFILIATE

The Applicant must enter Financial Product information for any Affiliate subject to review in connection with any of the CDFI Certification requirements.

Note: AMIS may allow Affiliates that are Certified CDFIs, certified CDEs or have the sole activity of offering other federal financial products, to omit certain Basic Financial Product Information for Affiliates questions.

BASIC FINANCIAL SERVICES INFORMATION – AFFILIATE

The Applicant must enter Financial Services information for any Affiliate that is subject to review in connection with any of the CDFI Certification requirements.

LEGAL ENTITY

To be a Certified CDFI, the Applicant must be duly organized and validly exist under the laws of the

State or jurisdiction in which it is incorporated or established as of the date the Application is submitted. The Applicant must also have a valid EIN.

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

Review and confirm the information included in the auto-populated Legal Entity fields is correct. If information is missing or inaccurate, submit all updates and make corrections on the Organization Detail Page in AMIS. For assistance with technical issues, submit a Service Request in AMIS.

Provide information, as requested, in any of the Legal Entity fields that are not auto-populated.

Attach original copies of all required Legal Entity documents, including any amendments.

Include evidence that the Legal Entity documentation was filed and approved by the appropriate government agency and of the date the documentation was filed or approved. A letter from a government agency that is signed and dated by the appropriate official stipulating when the Applicant’s legal documents were filed and signed, or a stamped document from the government agency containing the date the documents were filed and initialed by the appropriate government official may be submitted to meet this requirement.

The Applicant and/or Affiliate names should match those listed in the Basic Information section or, if sufficient documentation or explanation cannot be provided, the Application may be rejected.

A regulated financial institution that does not have a charter issued by the appropriate Federal Banking Agency or State Agency cannot apply for CDFI Certification. Regulated credit unions and banks/thrifts or bank/thrift holding companies must include a copy of their charter.

Section	Question or purpose of data field		Response
	Applicant EIN.		[Auto-populated].
	Applicant EIN documentation Indicate the type of documentation the Applicant is providing as evidence of its EIN.		Select all that apply: Official letter from IRS providing EIN. Confirmation fax from local IRS office with the organization’s name and EIN. A printout of completed and submitted online SS-4 (with organization’s EIN in upper right hand corner) from IRS website, accompanied by a printout of the online confirmation of receipt of EIN from IRS website.
	Applicant’s EIN documentation Attach a copy of each EIN documentation selected in question LE02.		Attach documentation.
	Date of Incorporation/Organization/Establishment		[Auto-populated].
	Applicant Institution Type.		[Auto-populated ].
	Applicant Federal Regulator.		[Auto-populated ].
	Applicant Charter Number.		[Auto-populated ].
	Applicant FDIC Insurance Certificate Number.		[Auto-populated ].
	Applicant RSSID Number.		[Auto-populated].
	Applicant State or Other Regulator.		[Auto-populated].
	If the Applicant is a depository institution, identify the Applicant’s insurer.		FDIC NCUA State Regulator Other None N/A Applicants other than those insured by the FDIC, NCUA or a State Regulator must complete the Financing Entity section of the Application.
	Applicant Legal Entity document(s).		Select all that apply: Articles of Incorporation Articles of Organization Certificate of Incorporation Organization Certificate Certificate of Formation Certificate of Existence Other Legal Entity documentation (please describe)
	Applicant Legal Entity documentation: Attach documentation selected in question LE12 that evidences the Applicant’s Legal Entity status.		Attach documentation.
	Applicant Legal Entity documentation: Indicate how governing or managing board/owner-approval of the Applicant’s Legal Entity documentation and the date of approval is evidenced in the related documentation attached to the Application.		Select one: Legal Entity documentation indicating date approved by the governing or managing board or the owner, and signed by an officer(s) of the governing/managing board, owner, or authorized representative. A statement attached to the Legal Entity documentation indicating date document(s) was approved by the governing or managing board or owner and signed by an officer(s) of the governing/managing board, owner, or authorized representative. Official governing/managing board meeting minutes signed by an officer(s) of the governing/managing board show the date of the governing/managing board meeting at which the Legal Entity document(s) was approved and clearly indicate governing/managing board approval of the document(s) at that meeting. Other.
	LE14.1	If “Other,” explain.	Provide explanation.
	If governing or managing board or owner-approval and/or the date of approval of the Applicant’s Legal Entity documentation is not evidenced within the relevant document itself: Attach additional documentation that evidences approval of the Applicant’s Legal Entity documentation by the Applicant’s governing/managing board or owner and the date approved that is signed by an officer(s) of the governing/managing board, a managing/general partner, or a managing member (or an authorized representative of a general partner or managing member).		Attach documentation.
	Have there been any amendments to the Applicant’s Legal Entity documentation?		Yes or No.
	LE16.1	If yes, attach all amendments.	Attach amendments.
	If the Applicant seeks to use the CDFI Certification provision for BG Program participation, solely to participate in the CDFI BG Program: Attach the operating agreement between the Applicant and a Controlling Certified CDFI that includes management and ownership provisions. The operating agreement will be evaluated to ensure it is in a form and substance acceptable to the CDFI Fund per 12 CFR 1805.201(b)(2)(C)(ii-iii).		Attach operating agreement.

PRIMARY MISSION

A Certified CDFI shall have a primary mission of promoting community development.

In determining whether an entity has a primary mission of promoting community development, the CDFI Fund will consider whether the activities of the Applicant (and of certain Affiliates) are purposefully directed toward improving the social and/or economic conditions of underserved people⁹ and/or residents of economically distressed communities. As part of its assessment, the CDFI Fund will consider whether the entity has a reasonable community development strategy and whether the entity meets the CDFI Fund’s standards for responsible financing practices.

All Applicants with Affiliates must meet the Primary Mission requirements based on a review of their own status and that of certain members in their family of affiliated entities.

DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs

An Applicant that is a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI, including Subsidiaries of a Tribal Government, is required by statute to meet the CDFI Certification requirements based on a collective review of its family of entities. Such entities must demonstrate that any Affiliate in its family of entities that meets any of the following criteria each individually meets the Primary Mission requirements:

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

The Affiliate is Controlled by the Applicant and the Applicant is a DIHC; or

The Applicant and the Affiliate are mutually Controlled by a DIHC or an IDI and the Affiliate directly engages in the provision of Financial Products and/or Financial Services.

Applicants other than DIHCs, Affiliates of DIHCs, and Subsidiaries of IDIs

Applicants (except a DIHC, Affiliate of a DIHC, or Subsidiary of an IDI) must demonstrate that any Affiliate in its family of entities that meets any of the following criteria each individually meet the Primary Mission requirements:

The Affiliate Controls the Applicant, except if the Controlling entity is a Tribal Government; or

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

Affiliates listed in the Basic Information section that are separately-Certified CDFIs or Community Development Entities (CDEs), as well as entities whose sole activity is the participation in other federal financing programs, are presumed to meet the CDFI Certification Primary Mission requirements and are exempt from completing this section of the Application.

Spinoffs

Any Applicant that seeks to use the CDFI Certification provision for Spinoff entities must demonstrate that the Applicant and/or original entity has had an acceptable primary mission of community development in place for at least the full six months completed immediately prior to submission of the CDFI Certification Application. Spinoffs also must demonstrate that all relevant Affiliates each individually meets all of the Primary Mission criteria.

DOCUMENTING MISSION

The Applicant must be able to demonstrate that it has had an acceptable primary mission of community development in place for at least the six full completed months immediately prior to submission of the Application. Applicants also must demonstrate that any relevant Affiliate has a mission currently in place that supports and/or is consistent with that of the Applicant’s.

To demonstrate that it has an acceptable primary mission, an entity must present documentation specified by the CDFI Fund that clearly articulates that the entity’s primary purpose is to promote community development and that demonstrates board or owner approval of that mission. Examples of promoting community development include the provision of Financial Products/Services or other efforts to promote affordable or Low-Income housing, public facilities, infrastructure or economic development and/or the provision of community services such as childcare, education, healthcare, social services, workforce development, etc.

COMMUNITY DEVELOPMENT STRATEGY

The Applicant must be able to demonstrate that it has an acceptable community development strategy such that the Financial Products and/or Financial Services it offers support a community development objective(s) for underserved populations and/or residents of economically distressed communities. To demonstrate that it has an acceptable community development strategy, the Applicant must submit a board -approved (or, for institutions without a board of directors, owner-approved) strategic plan that shows evidence of such a community development strategy. (Affiliates are not required to demonstrate a community development strategy, but must describe how their activities support and/or are consistent with the community development mission of the Applicant.)

RESPONSIBLE FINANCING PRACTICES

To meet the CDFI Certification requirements for responsible financing practices, an entity should provide Financial Products and Financial Services in a way that does not harm consumers. Financial Products should be affordable and based upon a borrower’s ability to repay. CDFIs should practice transparency, fair collections, and be in compliance with federal, state, and local laws.

To measure compliance with these principles, the Application asks a series of questions related to the Applicant’s Financial Products and Financial Services, some of which may be disqualifying, while others may be used holistically, to evaluate the Applicant’s practices as a whole.

Any Applicant that engages in the following practices is ineligible for CDFI Certification:

Originates or otherwise offers loans that exceed the interest limits that apply to non-depository institutions in the state where the borrower resides;
Offers mortgage loan products that include negative amortization, interest-only payments, or balloon payments; carry an original maximum term longer than 30 years; charge upfront points and fees in excess of the Qualified Mortgage limits; fail to verify the income of the borrower; or are underwritten at less than the maximum rate in the first five years;
Offers small business loan products that do not disclose, in writing, the periodic payment due, the total amount to be repaid over the life of the loan, the total finance charges over the life of the loan, or the annual percentage rate (APR) of the loan;
Sells its charged off debt to debt buyers;
Has a current Community Reinvestment Act rating below Satisfactory;
Uses its Equity Investment Financial Products to gain Control over an investee (except if the Applicant must save a business through ownership as a last resort for a limited period of time); or
Leverages, for its own benefit, the assets of any of its active equity investees.

Furthermore, Applicants that do not evaluate the ability of its consumer or small business borrowers to repay a loan, or that offer such loans that allow for an APR in excess of 36%, may also be determined to be ineligible for CDFI Certification, unless certain other conditions are met.

For purposes of calculating the APR for consumer loans, the CDFI Fund requires Applicants use the methodology prescribed in 32 CFR § 232.4 of the Military Lending Act (referred to as the Military Annual Percentage Rate (MAPR)), regardless of borrower status. This methodology captures interest and other charges, including application fees and participation fees, sets a single standard for all Applicants, and ensures that Applicants do not have incentives to disguise their rates by not including certain fees in calculating the Annual Percentage Rate.¹⁰ For purposes of calculating the APR for small business loans, Applicants may use the standard Truth in Lending Act (TILA) methodology.

Depository institution Applicants must also provide information on checking or share account features they offer, as well as information on any overdraft or nonsufficient funds (NSF) fees they charge. The CDFI Fund considers the safety and affordability of an Applicant’s Financial Services to be an important aspect of the Applicant’s commitment to a community development mission, and any Applicant offering products that lack reasonable protections or that charge excessive fees, inconsistent with regulatory guidance or a community development mission, may be determined ineligible for CDFI Certification.

PRIMARY MISSION - APPLICANT

Section	Question or purpose of data field		Response
	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
	Attach all document(s) needed to evidence the Applicant’s: Current primary mission of promoting community development (or, for Affiliates, a mission that supports and/or is consistent with the community development mission of the Applicant); Governing or managing board or owner approval of the current mission; and Date the current mission went into effect.		Attach all documents.
	Indicate how the document(s) demonstrate governing or managing board or owner approval of the Applicant’s current mission documentation.		Select all that apply: The document(s) is signed by an officer(s) of the governing or managing board or the owner. The document(s) is supplemented by official governing/managing board meeting minutes. The document(s) is supplemented by a statement that confirms approval of the document(s) by the governing or managing board or owner, and is signed by an officer(s) of the governing or managing board, owner, or authorized representative.
	Indicate how the document(s) demonstrates the date the current mission went into effect.		Select all that apply: The document(s) shows the date it was adopted via the date it was signed. The document(s) is supplemented by official governing/managing board meeting minutes that clearly indicate the date of the 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.
	Applicant’s current mission as stated in the attached mission documentation.		Enter current mission.
	Page number(s) in the attached mission documentation where the Applicant’s current mission is articulated.		Enter Page Number(s).
	Enter the date that the Applicant’s current mission was formally approved.		Enter date.
	Date by which an appropriate primary mission must have been in place.		[Auto-populated].
	If the date the Applicant’s current mission was formally approved is less than six full months prior to the submission of the CDFI Certification Application:
	PM08.1	Indicate the type(s) of document(s) presented as evidence that the Applicant had an immediate prior primary mission of promoting community development.	Select all that apply: Legal Entity documents Bylaws Governing or managing board resolution Owner resolution/directive
	PM08.2	Attach all document(s) needed to evidence the Applicant’s: Immediate prior primary mission of promoting community development; Governing or managing board or owner approval of the immediate prior mission; and Date when the immediate prior mission went into effect.	Attach document(s).
	PM08.3	Indicate how the document(s) demonstrates governing or managing board or owner approval of the Applicant’s immediate prior mission documentation.	Select all that apply: The document(s) is signed by an officer(s) of the governing or managing board or the owner. The document(s) is supplemented by official governing/managing board meeting minutes for the meeting at which the document(s) was adopted, are signed by an officer(s) of the governing/managing board, and clearly indicate approval of the document(s) by the board. The document(s) is supplemented by a statement that confirms approval of the document(s) by the governing or managing board or owner and is signed by an officer(s) of the governing or managing board, owner, or authorized representative.
	PM08.4	Indicate how the document(s) demonstrates the date the immediate prior mission went into effect.	Select all that apply: The document(s) shows the date it was adopted via the date it was signed. The document(s) is supplemented by official governing/managing board meeting minutes that clearly indicate the date of the meeting at which the document(s) was adopted. The document(s) is supplemented by a statement that clearly indicates the date the document(s) was approved by the governing or managing board or owner.
	PM08.5	Enter the Applicant’s immediate prior mission exactly as stated in the attached mission documentation.	Enter mission statement(s).
	PM08.6	For each type of document presented as evidence of the 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 PM08.1] Enter page number.
	PM08.7	Enter the date that the Applicant’s immediate prior mission was formally approved by its governing or managing board or owner.	Enter date.
	If the date the Applicant’s most recent prior mission is still less than six complete, full months prior to the submission of the CDFI Certification Application, repeat the prior mission documentation questions, as needed, until a full six-month’s timeframe has been provided.
	PRIMARY MISSION – APPLICANT – COMMUNITY DEVELOPMENT STRATEGY
	What are the Applicant’s community development objective(s) that address the social and/or economic conditions of underserved people and/or residents of economically distressed communities?		Select all that apply: Promote housing opportunity. Promote financial access (e.g. access to capital in persistent poverty communities). Promote economic development. Promote the development of community facilities. Promote infrastructure development. Promote the availability of community services (such as child care, education, healthcare, social services, workforce development, etc.). Promote community revitalization. Promote the availability of consumer products/services. Promote the closure of the racial wealth gap. Promote the creation of quality jobs. Promote business development. Promote increased energy, water, and/or location efficiency. Promote financial inclusion and access to affordable Financial Services, particularly for the un- and under-banked and/or in banking deserts (depository institutions only). Other.
	PM09.1	If “Other,” describe the objective and explain why it can be considered a community development objective	Provide explanation.
	For each community development objective selected in question PM09, identify the type of goal(s) supported by the Financial Product(s) in which the Applicant engages.		[A list of the Applicant’s community development objectives will be auto-populated based on information entered in PM09.] Select all that apply: Business development. Asset/wealth building. Homeless/transitional housing/services. Senior housing/services Community facilities development/ improvements. Special needs housing/services. Accessibility modifications. Affordable housing. Job creation/retention. Charter school development. Community healthcare centers development. Commercial real estate development. Climate resilience Reduced poverty and/or inequality. Credit building. Financial stability. Other.
	PM10.1	If “Other,” describe.	Provide description.
	Does the Applicant have a board- or owner-approved strategic plan that provides evidence of a community development strategy?		Yes or No If No, the Applicant is not eligible for Certification.
	If Yes:
	PM11.1	Attach board- or owner-approved strategic plan that provides evidence of a community development strategy.	Attach document(s).
	PM11.2	Identify the page number(s) from the attached document(s) where the community development strategy is articulated.	Enter page number(s).
	PM11.3	Provide a brief narrative that describes the Applicant’s theory of change, i.e., the community development outcomes that the Applicant believes will result from the provision of its Financial Products and Financial Services, and how those Financial Products and Financial Services lead to those outcomes.	Provide narrative.
	PRIMARY MISSION – APPLICANT - Responsible Financing Practices
Questions PM12-PM21 will be asked of Applicants that offer loan products (including credit cards or purchased loans) only.
	Beginning, at a minimum, 12 full months immediately prior to submission of the Application, do the Applicant’s underwriting standards for each of its consumer, mortgage, and/or small business loan products include measures to ensure the borrower has an ability to repay the loan according to the terms of the loan, meet any of the borrower’s other major financial obligations, and still pay basic expenses, without having to reborrow or refinance?		Select Yes or No or N/A (i.e. does not offer consumer, mortgage, or small business loan products).
	If No, please explain.		Provide narrative. An Applicant that does not consider a borrower’s ability to repay a loan may be determined ineligible for CDFI Certification.
	Beginning, at a minimum, 12 full months immediately prior to submission of the CDFI Certification Application, does the Applicant originate, purchase interests in, offer, market, or service any consumer loan products (including credit cards and purchased loans) that allow for an annual percentage rate in excess of 36% when that rate is calculated using the Military Annual Percentage Rate (MAPR) standard¹¹?		Yes or 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, market, or service any consumer loan products (including credit cards or purchased loans) that allow for an annual percentage rate in excess of 36% when that rate is calculated using the MAPR standard.
	PM13.1	What is the current highest allowable MAPR charged on any of the Applicant’s consumer loans (including credit cards and purchased loans)?	For each consumer loan product with an allowable MAPR above 36%, enter loan product name and highest allowable MAPR.
	Questions PM13.2-PM13.7 - For any consumer loan product with a MAPR in excess of 36%, beginning, at a minimum, 12 full months immediately prior to submission of the Application:
	PM13.2	Did any of the loan products in question have an annual default rate over five percent?¹²	Yes or No. If Yes, the Applicant is not eligible for CDFI Certification.
	PM13.3	Do any of the loans in question include a leveraged payment mechanism?¹³	Yes or No. If Yes, the Applicant is not eligible for CDFI Certification.
	PM13.4	If the product in question includes loans of $1,000 or less, have the repayment timeframes been limited to no more than 12 months?	Yes or No or N/A (i.e. does not offer loans of $1000 or less). If No, the Applicant is not eligible for CDFI Certification.
	PM13.5	For a period of 12 full months after the issuance of such a loan, does the 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.
	PM13.6	Are all fees spread evenly over the life of the loan and pro rata refundable in the event of early repayment (including through a refinance) for each of the Applicant’s installment loan products in question?	Yes or No. If No, the Applicant is not eligible for CDFI Certification.
	PM13.7	Are all loan payments substantially equal and do they amortize smoothly to a zero balance by the end of the loan term for each of the Applicant’s installment loan products in question?	Yes or No. If No, the Applicant is not eligible for CDFI Certification.
	Beginning, at a minimum, 12 full months immediately prior to submission of the CDFI Certification Application, does the Applicant originate, purchase interests in, offer, market, or service small business loan products (including credit cards and purchased loans) that allow for an annual percentage rate in excess of 36%?		Yes or No or N/A (i.e. does not offer small business loan products). If Yes, the Applicant will be required to respond to additional financing-practices questions about the small business loan products that allow for an annual percentage rate in excess of 36%.
	If Yes:		Only for Applicants that originate, purchase interests in, offer, market, or service any small business loan products (including credit cards or purchased loans) that allow for an annual percentage rate in excess of 36%.
	PM14.1	What is the current highest allowable APR charged on any of the Applicant’s small business loans (including credit cards and purchased loans)?	For each small business loan product with an allowable APR above 36%, enter loan product name and highest allowable APR.
	Questions PM14.2-PM14.5 - For any small business loan product with an APR in excess of 36%, beginning, at a minimum, 12 full months immediately prior to submission of the Application:
	PM14.2	Did any of the loan products in question have an annual default rate over five percent?¹⁴	Yes or No. If Yes, the Applicant is not eligible for CDFI Certification.
	PM14.3	Do any of the loans in question include a leveraged payment mechanism?¹⁵	Yes or No. If Yes, the Applicant is not eligible for CDFI Certification.
	PM14.4	Are all fees spread evenly over the life of the loan and pro rata refundable in the event of early repayment (including through a refinance) for each of the Applicant’s installment loan products in question?	Yes or No. If No, the Applicant is not eligible for CDFI Certification.
	PM14.5	Are all installment loan payments substantially equal and do they amortize smoothly to a zero balance by the end of the loan term for each of the Applicant’s installment loan products in question?	Yes or No. If No, the Applicant is not eligible for CDFI Certification.
	If the Applicant is a non-depository institution, beginning, at a minimum, 12 full months immediately prior to submission of the CDFI Certification Application, does the Applicant originate, purchase interests in, offer, market, or service loans that exceed the interest limits that apply to non-depository institutions in the state where the borrower resides?		Yes or No or N/A (i.e., Applicant is a depository institution). If Yes, the Applicant is not eligible for CDFI Certification.
	Beginning, at a minimum, 12 full months immediately prior to submission of the CDFI Certification Application, for each of the Applicant’s mortgage loan products, does the Applicant:
	PM16.1	Offer loans that include negative amortization, interest-only payments, or balloon payments?	Yes or No or N/A (i.e. does not offer mortgage loan products). If Yes, the Applicant is not eligible for CDFI Certification.
	PM16.2	Underwrite adjustable rate mortgages at less than the maximum rate in the first five years?	Yes or No or N/A (i.e. does not offer mortgage loan products). If Yes, the Applicant is not eligible for CDFI Certification.
	PM16.3	Offer loans with an original maximum term longer than 30 years?	Yes or No or N/A (i.e. does not offer mortgage loan products). If Yes, the Applicant is not eligible for CDFI Certification.
	PM16.4	Verify the income of the borrower?	Yes or No or N/A (i.e. does not offer mortgage loan products). If No, the Applicant is not eligible for CDFI Certification.
	PM16.5	Charge upfront points and fees in excess of the Qualified Mortgage limits¹⁶?	Yes or No or N/A (i.e. does not offer mortgage loan products). If Yes, the Applicant is not eligible for CDFI Certification.
	Beginning, at a minimum, 12 full months immediately prior to submission of the CDFI Certification Application, for each of the Applicant’s small business loan products, does the Applicant disclose in writing:
	PM17.1	The periodic payment due?	Yes or No or N/A (i.e. does not offer small business loan products). If No, the Applicant is not eligible for CDFI Certification.
	PM17.2	The total amount to be repaid over the life of the loan?	Yes or No or N/A (i.e. does not offer small business loan products). If No, the Applicant is not eligible for CDFI Certification.
	PM17.3	The total finance charges over the life of the loan?	Yes or No or N/A (i.e. does not offer small business loan products). If No, the Applicant is not eligible for CDFI Certification.
	PM17.4	The annual percentage rate (APR) of the loan?	Yes or No or N/A (i.e. does not offer small business loan products). If No, the Applicant is not eligible for CDFI Certification.
	Select the tools the Applicant uses to assist struggling borrowers.		Select all that apply: Fees or interest waivers Interest rate reductions Loan term extensions Principal forgiveness Other None
	PM18.1	If “Other,” please describe.	Provide description.
	Does the Applicant sell its charged off debt to debt buyers?		Yes or No. If Yes, the Applicant is not eligible for CDFI Certification.
	Does the Applicant report some or all consumer Financial Product transactions to a major credit bureau?		Yes or No or N/A (i.e. does not offer consumer loan products).
	If the Applicant is an FDIC-insured depository institution or state-chartered commercial or savings bank, does the Applicant have a current Community Reinvestment Act rating of Satisfactory or higher?		Yes, No, or N/A (i.e., not an FDIC-insured depository institution. If No, the Applicant is not eligible for CDFI Certification.
Questions PM22-PM23 will be asked only of Applicants that offer Equity Investment Financial Products
	Has the Applicant had a policy or practice in place for its Equity Investment Financial Products for, at a minimum, the 12 full months immediately prior to submission of the Application that prevents the Applicant from gaining Control over an investee except if the Applicant must save a business through ownership as a last resort for a limited period of time?		Yes or No or N/A (i.e. does not offer equity products). If No, the Applicant is not eligible for CDFI Certification.
	During the 12 full months completed immediately prior to submission of the Application, did the Applicant leverage, for its own benefit, the assets of any of its active investees?		Select Yes or No or N/A (i.e. does not offer equity products). If Yes, the Applicant is not eligible for CDFI Certification.
RESPONSIBLE FINANCING PRACTICES – FINANCIAL SERVICES
Questions PM24-PM26 will be asked of depository institution Applicants only
	Select each of the listed features associated with a single checking or share account (including checkless checking) offered by the Applicant.		Select all that apply: Free access to debit card network for point of sale and bill payment. Minimum opening deposit of $25 or less. Monthly maintenance fee of $5 or less if not waivable, or $10 or less if waivable.¹⁷ No overdraft or nonsufficient funds fees.¹⁸ No account activation, closure, dormancy, inactivity, or low balance fees. Free and unrestricted branch access or (for Applicants without branches) access to free ATM network and free remote deposits. Free and unrestricted telephone banking (including live support). Free and unrestricted in-network ATM access. Out-of-network ATM fee of $2.50 or less; or up to $3.00 if free access to a partner ATM network is also provided. Free deposit capability for cash and checks in-branch and at ATM (when available), and direct deposit. Free bill pay if available, or at least four free money orders and/or cashier checks per month. Free check cashing for checks issued by the Applicant. Free online banking, mobile banking, and banking alerts (if offered). Free electronic monthly statements; or $2 or less for mailed paper statements (if offered). Account screening – only deny new customers for past incidences of actual fraud. Alternative IDs (e.g., municipal, consular, etc.) accepted. Free linked savings accounts and account transfers. Money orders priced at the U.S. Postal Service rate or less. Competitively priced remittances (international wire). Credit building product offerings such as secured credit card or secured personal loan available.
	PM24.1	Identify the checking or share account that includes each of the selected features.	Name account.
	For any of the Applicant’s depository accounts, is the account holder subject to any potential overdraft fees?		Select Yes or No.
	If Yes:
	PM25.1	Specify the highest dollar amount charged for such a fee.	Enter number.
	PM25.2	Specify any daily limits on the number and frequency of such fees that can be charged to an account holder.	Enter number.
	PM25.3	Specify any annual limits on the number and frequency of such fees that can be charged to an account holder.	Enter number.
	PM25.4	Select each of the listed features included in the Applicant’s overdraft program.	Select all that apply: No overdraft fees on debit card purchases. No overdraft fees on ATM withdrawals. No extended/sustained overdraft fees. Grace period provided before charging an overdraft fee. Negative balances allowed without triggering an overdraft fee. Balance-related alerts offered. Access to real-time balance information. Consumer’s checking account linked to another account for overdraft protection. Overdraft fees collected from a consumer’s next deposit only after other items have been posted or cleared. No additional fees charged when an item is re-presented.
	For any of the Applicant’s depository accounts, is the account holder subject to any potential nonsufficient funds (NSF) fees?		Select Yes or No.
	If Yes:
	PM26.1	Specify the highest dollar amount charged for such a fee.	Enter number.
	PM26.2	Specify any daily limits on the number and frequency of such fees that can be charged to an account holder.	Enter number.
	PM26.3	Specify any annual limits on the number and frequency of such fees that can be charged to an account holder.	Enter number.
	PM26.4	Select each of the listed features included in the Applicant’s NSF policies.	Select all that apply: Balance-related alerts offered. Access to real-time balance information provided. NSF fees collected from a consumer’s next deposit only after other items have been posted or cleared. No additional fees charged when an item is re-presented.
PRIMARY MISSION – AFFILIATES
For each Affiliate subject to review in connection with any of the CDFI Certification requirements, the Applicant must provide the following Primary Mission information, as well as respond to relevant Documentation and Responsible Financing Practices questions.
PM27	Describe the activities of the Affiliate and how the Affiliate’s mission and activities support and/or are consistent with the community development mission of the Applicant.		Provide description.

FINANCING ENTITY

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

Its predominant business activity is the provision of Financial Products and/or Financial Services¹⁹ and that it has been engaged in such activity for at least one full fiscal year. Unless otherwise indicated, the provision of Financial Products must be arm’s-length and on-balance sheet.

It dedicates a predominance of both its assets and its staff time to the provision of Financial Products and/or Financial Services. (Predominance does not require a majority, but occurs when an amount is the greatest as compared to all other amounts.)

It maintains sufficient capital to continue closing Financial Products for at least three months from the date the CDFI Certification Application is submitted.

Entities participating in the CDFI Fund’s Bond Guarantee Program (BG Program)

BG Program participants that are unable to meet CDFI Certification Financing Entity requirements will, for the purpose of participating in the BG Program only, be deemed as meeting the Financing Entity requirements if they are Controlled by a Certified CDFI.

Entities seeking to obtain or maintain CDFI Certification solely for participation in the CDFI Fund’s BG Program and that are Controlled by a Certified CDFI are allowed to meet CDFI Certification requirements using on-balance sheet Financial Product activity that is not arm’s-length, provided that the activity is by and between such entities and a Controlling Certified CDFI. Such activity must be pursuant to operating agreements that include management and ownership provisions and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(iii)).

Certain Regulated Financial Institutions

The following entities are presumed to meet the CDFI Certification Financing Entity requirements and are exempt from completing this section of the Application, as long as their dates of incorporation, organization, or establishment occurred at least one full fiscal year prior to submission of a CDFI Certification Application:

Depository Institution Holding Companies (DIHCs)
Depository institutions with Federal Deposit Insurance Corporation (FDIC) insurance
State-Insured Credit Unions (includes state-regulated credit unions)

CDFI Certification Provision for Spinoff Entities

To meet the Financing Entity requirements, in lieu of a history of closing Financial Product transactions over the 12 months of the most recently completed full fiscal year, a Spinoff entity must demonstrate that it closed at least one Financial Product within the 12 months prior to submission of this Application and must meet the following conditions:

Be a separate legal entity.

Have received a transferred Financial Product from at least one original 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 completed immediately prior to submission of this Application.

Demonstrate that at least one original entity from which it received any Financial Products had an acceptable primary mission in place for at least the six full months immediately prior to submission of this Application.

Demonstrate that it closed at least one Financial Product of the type transferred at any time during the 12 full months immediately prior to submission of this Application, using its own capital.

For the purposes of the Financing Entity test, the Spinoff should include any transferred Financial Products and Financial Services assets that appear on its balance sheet as part of its own overall Financial Product and Financial Services asset amounts.

ELIGIBLE FINANCIAL PRODUCTS/FINANCIAL SERVICES²⁰

Financial Products

Financial Products include loans, Equity Investments and other similar financing activities approved by the CDFI Fund. Other similar financing activities currently pre-approved by the CDFI Fund as Financial Products include:

The provision of loan guarantees;
Forgivable loans that require at least one payment within 12 months of the loan closing date;
The purchase of loans originated by a Certified CDFI;
The purchase of loans originated by entities that do not have CDFI Certification but were made to members of the Applicant’s Target Market(s); and
Credit cards.

If an entity wants to include any financing other than the pre-approved similar financing activities as Financial Products for the purpose of meeting any CDFI Certification requirements, it must obtain prior approval from the CDFI Fund to do so.

Financial Services

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

Financial Services include the provision of checking and savings accounts, check cashing, money orders, money market accounts, certified checks, automated teller machines, safe deposit box services, and other similar services.

If a depository institution wants to include any similar financial service as an eligible Financial Service for the purposes of meeting any of the CDFI Certification requirements, it must obtain prior approval from the CDFI Fund.

ASSETS DEDICATED TO, DERIVED FROM, OR AVAILABLE FOR THE DIRECT PROVISION OF FINANCIAL PRODUCTS AND/OR FINANCIAL SERVICES

Unless otherwise directed, information on assets dedicated to or derived from the provision of Financial Products and/or Financial Services, or available within three months of submission of the Application to finance Financial Product closings, should be based on assets held directly by the Applicant. If consolidated statements that do not show the Applicant’s assets separately from other affiliated entities are presented, the Application will be rejected.

Furthermore, Applicants must base all assets dedicated to or derived from the provision of Financial Products and/or Financial Services, or available within three months of submission of the Application to finance Financial Product closings, on assets held directly by the Applicant. Such assets must be reflected in the Applicant’s current, non-consolidated, fiscal year-to-date balance sheet with an “as of” date no more than 45 days prior to the CDFI Certification Application submission date. Examples of assets dedicated to or derived from the provision of Financial Products and/or Financial Services include cash/cash equivalents, loans receivable, Equity Investments, pre-paid expenses, equipment, and buildings/real estate. Assets available within the next three months to finance Financial Product closings include cash/cash equivalents, Financial Product receivables, accounts receivable, etc.

Assets dedicated to or derived from the provision of Financial Products and/or Financial Services include:

The portion of any assets reflected in the Applicant’s current fiscal year-to-date balance sheet that are derived from or currently available to be used as capital to finance its Financial Product closings.

The portion of any assets reflected in the Applicant’s current fiscal year-to-date balance sheet used to support staffing costs and other operating needs related to its direct provision of Financial Products.

For depository institutions that do not automatically qualify as Financing Entities (e.g., banks/thrifts that do not have federal deposit insurance or holding companies that do not meet the CDFI Fund’s definition of a DIHC), the portion of any assets held by an Applicant directly, as reflected in its current, non-consolidated, fiscal year-to-date balance sheet, that are derived from or are currently available to support the direct provision of Financial Services.

The CDFI Fund does not consider the following types of activities as assets that support the direct provision of Financial Products and/or Financial Services:

Real estate development
Property management
Financing for affiliated individuals or entities (unless the Applicant is using the CDFI Certification provision for participants in the CDFI Fund’s Bond Guarantee Program)
Financing products or services not approved by the CDFI Fund as eligible Financial Products or Financial Services
Loan originating, servicing, or packaging for financing provided by other entities
Grant-making
Development Services
Other non-financing activities

STAFF TIME DEDICATED TO THE DIRECT PROVISION OF FINANCIAL PRODUCTS AND/OR FINANCIAL SERVICES

Unless otherwise directed, the staffing information provided in the Financing Entity section of the Application should be based on the Applicant’s staffing levels and activity only.

Staffing allocations for the Financing Entity predominance test must be based on the manner an Applicant used its staff time during the 12 full months just prior to the submission of this Application. The Applicant should calculate the average FTE staff time available to it during the last 12 full months and identify how that time was allocated to its different activities. If an Applicant relies on staffing provided by another entity, only the portion of the other entity’s FTE staff time that is spent directly on the activities undertaken on behalf of the Applicant should be included.

PREDOMINANCE AS A FINANCING ENTITY

The Applicant’s assets and staffing information must demonstrate that the direct provision of Financial Products and/or Financial Services is the Applicant’s predominant business activity.

To be predominant, the provision of Financial Products and/or Financial Services does not have to be the majority of the Applicant’s overall activity, but must be the activity that reflects the greatest use of the Applicant’s assets and staff time when compared to any other separate and distinct type of activity in which the Applicant engages. No other single activity type should claim more of an Applicant’s assets and staff time.

All assets held by an Applicant and all available staff time, including those that do not support the direct provision of Financial Products and/or Financial Services, must be presented in connection with the Financing Entity predominance test. However, Applicants that engage in significant Financial Product and/or Financial Services business activity but who also have major assets that skew their asset or staffing data such that the direct provision of Financial Products and/or Financial Services does not appear to be the predominant activity, may request that certain assets and/or staff time be excluded from consideration. When requesting that asset or staff time be excluded from consideration for the Financing Entity predominance test, the Applicant must provide an explanation of why such assets incorrectly appear to indicate that it is not predominantly a Financing Entity, or why the assets are essential for it to conduct its Financial Product and/or Financial Services activity. The CDFI Fund maintains sole discretion to determine the applicability of such assets and/or staff time in meeting the Financing Entity test.

Types of major assets that may be disregarded as counting towards the predominance test include:

Large endowments held by entities that have acted as traditional foundations but that have shifted their activities and staff time to provide more Financial Products than grants and are community development focused (as per business strategy).
Real property held by entities because they own their own building where a percentage of the building supports the provision of Financial Products and/or Financial Services.
Real property held by entities because it was donated and the entities intends to sell it within the next fiscal year and some or all of the revenue raised will be used to support the provision of Financial Products and/or Financial Services.
Real estate to be sold or transferred to non-Affiliated third parties in order to support real estate development financing activity (Financial Products for real estate development must be offered).

The Applicant must obtain prior approval to exclude any major assets and/or staff time for any related financing activity not included above.

SUFFICIENT CAPITAL TO CONTINUE CLOSING FINANCIAL PRODUCT TRANSACTIONS

The Applicant must possess sufficient capital to sustain its Financial Product activity. Generally, the CDFI Fund deems that an entity has sufficient capital to continue its eligible Financial Product activity if it has enough capital available to close at least one Financial Product transaction within the next three months, with a dollar volume that is typical for the Applicant based on its Financial Product offerings.

The Applicant must provide information on liquid assets as identified in the Applicant’s current year-to-date balance sheet and off-balance sheet capital sources. Types of capital that should not be included as available to finance Financial Product closings include, but are not limited to, cash needed for operations and cash or other liquid assets that have been earmarked, set aside, or board- or funder-designated for activity other than eligible financing. This may include, but is not limited to, capital designated for financing products or services not approved by the CDFI Fund as eligible Financial Products or Financial Services by the CDFI Fund; grant making; real estate development; property management; and land acquisition.

FINANCING ENTITY – APPLICANT ONLY – GENERAL INFORMATION

Section	Question or purpose of data field		Response
	If the Applicant has indicated that it is seeking to use the CDFI Certification BG Program provision:
	FE-1.1	Is the Applicant Controlled by a Certified CDFI that has a date of incorporation/organization/ establishment at least 12 full months prior to submission of the Affiliate’s CDFI Certification Application?	Yes or No.
	FE-01.2	Will the Applicant use Financial Product activity that is not arm’s-length to meet any of the Financing Entity requirements?	Yes or No.
	Do the Applicant’s financial statements and balance sheets show assets held by the Applicant separately and independently from all other entities (i.e., in a non-consolidated manner)?		Yes or No. If No, the Applicant is not eligible for Certification.
	Attach Applicant’s financial statements for its most recently completed fiscal year with non-consolidated balance sheet information.		Attach document(s).
	Attach Applicant’s current fiscal year-to-date financial statements with non-consolidated balance sheet information.		Attach document(s).
	Identify “As of” date for the Applicant’s current fiscal year-to-date balance sheet. (Must be no more than 45 days prior to the date of submission of the CDFI Certification Application.)		Enter Month/Date/Year.

FINANCING ENTITY – APPLICANT ONLY – ASSET PREDOMINANCE – NON-CONSOLIDATED CURRENT FISCAL YEAR-TO-DATE DATA

Section	Question or purpose of data field			Response
	Applicant’s Total Assets Provide the total assets from current fiscal year-to-date balance sheet held by the Applicant only.			Enter Applicant only total assets.
	Does the Applicant request that any of its assets (as listed in the Applicant’s current fiscal year-to-date, non-consolidated balance sheet) be disregarded for the purposes of the Financing Entity predominance test?			Yes or No.
	If Yes:
	FE-A2.1	Identify the line item in the current fiscal year-to-date, non-consolidated balance sheet for which the Applicant requests that some or all of the related asset be disregarded.		Enter balance sheet line item name.
	FE-A2.2	Indicate how the asset is used that qualifies it to be disregarded.		Select one: Endowment Portion of owned building used to support the direct provision of Financial Products and/or Financial Services Donated real property to be sold within the next fiscal year to raise funds to support the direct provision of Financial Products and/or Financial Services Real estate to be sold/transferred to non-Affiliated third parties in order to support real estate development financing activity (Financial Products for real estate development must be offered) Other
		FE-A2.2a	If “Other,” identify the other asset use.	Enter use.
		FE-A2.2b	Has this asset use been pre-approved by the CDFI Fund as one for which some or all of the assets used in that manner can be disregarded for the purposes of the CDFI Certification Financing Entity predominance test?	Yes or No. If No, the asset will not be disregarded towards meeting the predominance test.
		FE-A2.2c	Attach approval letter.	Attach relevant disregarded asset approval letter from the CDFI Fund.
	FE-A2.3	Indicate the dollar amount for the portion of the line item in the current fiscal year-to-date balance sheet to be disregarded.		Enter dollar amount.
	FE-A2.4	Explain how the amount of the asset that the Applicant seeks to be disregarded was determined.		Enter explanation.
	If the Applicant has more than one balance sheet line item and/or asset use for which it requests that some or all of the relevant assets be disregarded for the purposes of the Financing Entity predominance test, repeat the data entry for each such item.
	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, derived from, or related to the direct provision of Financial Products and/or Financial Services:
	FE-A3.1	Identify the line item.		Enter balance sheet line item name.
	FE-A3.2	Indicate how the asset qualifies as being dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services.		Select one: Capital dedicated to or derived from the direct provision of Financial Products and/or Financial Services. Portion of owned building from which revenue is generated that supports the direct provision of Financial Products and/or Financial Services. Portion of owned equipment used for the direct provision of Financial Products and/or Financial Services. Loans receivables dedicated to or derived from the direct provision of Financial Products and/or Financial Services. Other.
		If ”Other”:
		FE-A3.2a	Identify the asset for which some or all of the assets qualifies as being dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services.	Enter activity.
		FE-A3.2b	Has this asset been pre-approved by the CDFI Fund as qualifying as being dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services?	Yes or No. If No, the asset will not qualify towards meeting the predominance test.
		FE-A3.2c	Attach approval letter.	Attach document.
	FE-A3.3	Indicate the dollar amount for the portion of the line item that is dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services.		Enter dollar amount.
	FE-A3.4	Explain how the amount was determined.		Enter explanation.
	If the Applicant has more than one balance sheet line item for which some or all of the related assets are dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services, repeat data entry for each such item.
	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: Financing to affiliated individuals or entities Financing products/services not approved by the CDFI Fund as eligible Financial Products or Financial Services Loan packaging/origination/servicing for financing provided by another entity(ies) Grant-making Development Services Training, Counseling and/or technical assistance that does not qualify as Development Services Other
	FE-A4.2	FE-A4.2a	If “Other,” describe.	Enter description.
	FE-A4.3	Indicate the dollar amount for the portion of the line item that is dedicated to the selected activity.		Enter dollar amount.
	FE-A4.4	Explain how the amount was determined.		Enter explanation.
	If the Applicant has more than one balance sheet line item for which some or all of the related assets are dedicated to an activity other than the direct provision of Financial Products and/or Financial Services, repeat data entry for each such item.
	Summary of total assets by activity:
		Disregarded Assets.		[Auto calculated]. (Based on entries in FE-A2)
		Assets dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services.		[Auto calculated]. (Based on entries in FE-A3)
		Real estate development.		[Auto calculated]. (Based on entries in FE-A4)
		Property management.		[Auto calculated]. (Based on entries in FE-A4)
		Ineligible Financing to affiliated individuals or entities.		[Auto calculated]. (Based on entries in FE-A4)
		Financing products/services not approved by the CDFI Fund as eligible Financial Products or Financial Services.		[Auto calculated]. (Based on entries in FE-A4)
		Loan packaging/origination/ servicing for financing provided by another entity(ies).		[Auto calculated]. (Based on entries in FE-A4)
		Grant-making.		[Auto calculated]. (Based on entries in FE-A4)
		Development Services.		[Auto calculated]. (Based on entries in FE-A4)
		Training, counseling and/or technical assistance that does not qualify as Development Services.		[Auto calculated]. (Based on entries in FE-A4)
		Other		[Auto calculated]. (Based on entries in FE-A4)
		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, derived from, or related to the direct provision of Financial Products and/or Financial Services, explain why the Applicant should nevertheless be considered predominantly a Financing Entity.			Provide explanation.

FINANCING ENTITY – APPLICANT ONLY - STAFFING ALLOCATIONS

Section	Question or purpose of data field			Response
	Applicant’s Average Total Full Time Equivalent (FTE) Staff for the 12 months immediately prior to the submission of the CDFI Certification Application.
	Does the Applicant request that any of its FTE staff be disregarded for the purposes of the Financing Entity predominance test?			Yes or No.
	If “Yes”:
	FE-AS2.1	Indicate the use of FTE staff that qualifies it to be disregarded for the purposes of the Financing Entity predominance test.		Select all that apply: Endowment management Management of portion of owned building used to support the direct provision of Financial Products and/or Financial Services Management of donated Real Property to be sold to raise funds to support the direct provision of Financial Products and/or Financial Management of real estate to be sold/transferred to non-Affiliated third parties in order to support real estate development financing activity (Financial Products for real estate development must be offered) Other
		If “Other:”
		FE-AS2.1a	Identify the other FTE staff use.	Enter use.
		FE-AS2.1b	Has this FTE staff use been pre-approved by the CDFI Fund as one for which some or all of the FTE staff used in that manner can be disregarded for the purposes of the CDFI Certification Financing Entity predominance test?	Yes or No.
		FE-AS2.1c	Attach approval letter.	Attach relevant disregarded staff time approval letter from the CDFI Fund.
	FE-AS2.2	Indicate the amount of the Applicant’s average FTE staff to be disregarded.		Enter FTE staff number.
	FE-AS2.3	Explain how the amount of FTE staff to be disregarded was determined.		Enter explanation.
	For FTE staff dedicated or related to the provision of Financial Products and/or Financial Services:
	FE-AS3.1	Indicate the use of FTE staff that qualifies it as being dedicated or related to the provision of Financial Products and/or Financial Services.		Select all that apply: General entity administration that supports the provision of Financial Products and/or Financial Services Direct staffing for the provision of Financial Products and/or Financial Services Marketing and outreach for the provision of Financial Products and/or Financial Services Fundraising/raising capital for the provision of Financial Products and/or Financial Services Other (explain)
		If “Other:”
		FE-AS3.1a	Identify the other FTE staff use.	Enter use.
		FE-AS3.1b	Has this FTE staff use been pre-approved by the CDFI Fund as one for which some or all of the staff time used in that manner qualifies as being dedicated or related to the provision of Financial Products and/or Financial Services for the purposes of the CDFI Certification Financing Entity predominance test?	Yes or No
		FE-AS3.1c	Attach approval letter.	Attach financing-related activity approval letter(s) from the CDFI Fund.
	FE-AS3.2	Indicate the average amount of overall FTE staff dedicated or related to the provision of Financial Products and/or Financial Services.		Enter Average FTE staff number.
	FE-AS3.3	Explain how the amount was determined.		Enter explanation.
	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 Financing to affiliated individuals or entities Financing products/services not approved by the CDFI Fund as eligible Financial Products or Financial Services Loan packaging/origination/ servicing for financing provided by another entity(ies) Grant-making Development Services Training, counseling and technical assistance that does not qualify as Development Services Other
	FE-AS4.1	FE-AS4.1a	If “Other,” describe.
	FE-AS4.2	Indicate the amount of the Applicant’s average FTE staff dedicated to the selected activity.		Enter FTE staff number.
	FE-AS4.3	Explain how the amount was determined.		Enter explanation.
	If the Applicant has more than one type of activity for which related staff time are dedicated to an activity other than the direct provision of Financial Products and/or Financial Services, repeat the data entry for each relevant activity type.
	Summary of total staff time by activity:
		Disregarded FTE staff.		[Auto calculated]. (Based on entries in FE-AS2)
		FTE staff dedicated to, derived from, or related to the direct provision of Financial Products and/or Financial Services.		[Auto calculated]. (Based on entries in FE-AS3)
		Real estate development.		[Auto calculated]. (Based on entries in FE-AS4)
		Property management.		[Auto calculated]. (Based on entries in FE-AS4)
		Ineligible financing to affiliated individuals or entities.		[Auto calculated]. (Based on entries in FE-AS4)
		Financing products/services not approved by the CDFI Fund as eligible Financial Products or Financial Services.		[Auto calculated]. (Based on entries in FE-AS4)
		Loan packaging/origination/ servicing for financing provided by another entity(ies).		[Auto calculated]. (Based on entries in FE-AS4)
		Grant-making.		[Auto calculated]. (Based on entries in FE-AS4)
		Development Services.		[Auto calculated]. (Based on entries in FE-AS4)
		Training, counseling and technical assistance that does not qualify as Development Services.		[Auto calculated]. (Based on entries in FE-AS4)
		Other.		[Auto calculated]. (Based on entries in FE-AS4)
		Total.		[Auto calculated]. (Should match entry in FE-AS1)
	If the share of any of the Applicant’s average FTE staff (other than disregarded staff time) that has been dedicated to an activity other than eligible financing activity is greater than the share of the Applicant’s average FTE staff dedicated to the provision of Financial Products and/or Financial Services, explain why the Applicant should still be considered predominantly a Financing Entity.			Provide explanation.

FINANCING ENTITY – APPLICANT ONLY – CAPITAL TO FINANCE FINANCIAL PRODUCT CLOSING OVER NEXT THREE MONTHS

Section	Question or purpose of data field			Response
	Average dollar amount of a Financial Product transaction financed by the Applicant over the 12 months immediately prior to the submission of the Application.			Enter dollar amount.
	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-AC2.2	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.
	Does the Applicant have any off-balance sheet capital that will be available to it during the next three months to finance its eligible Financial Product closings?			Yes or No.
	If Yes:
	FE-AC3.1	Indicate the type of off-balance sheet capital available.		Select type. Line of credit Grant or loan funds formally committed Capital held by an Affiliate formally committed Other (explain)
	FE-AC3.1	FE-AC3.1a	If “Other,” explain.	Provide explanation
	FE-AC3.2	Provide the dollar amount available.		Enter dollar amount.
	FE-AC3.3	Explain why the off-balance sheet capital is considered to be formally committed.		Narrative.
	FE-AC3.4	Provide documentation evidencing that the off-balance sheet capital is formally available and that includes amount available.		Attach document(s).
	If the Applicant has multiple off-balance sheet capital sources available, repeat data entry for each source.
	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)
	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 entity must demonstrate that it serves at least one eligible Target Market (either an Investment Area or a Targeted Population). In addition, it must direct at least 60% of both the number and dollar volume of arm’s-length, on-balance sheet Financial Products to one or more eligible Target Market(s).

Financial Services Option

A Depository Institution that has directed less than 60% but at least 50% of the dollar volume of its Financial Products, and at least 60% of the total number of its Financial Products to one or more eligible Target Market(s), also has the option of meeting the Target Market test by demonstrating that at least 60% of its total unique depository account holders are members of one or more eligible Target Market(s).

New CDFI Applicants must meet the applicable Target Market percentage benchmarks over its most recently completed fiscal year prior to submission of the Application. To maintain Certification, Certified CDFIs must demonstrate compliance with the Target Market percentage benchmarks based on a three-year average through the last day of their most recently completed fiscal year.²¹ To confirm activity to the Target Market, transaction level data will be submitted annually through the TLR.

All Applicants must meet the applicable Target Market percentage benchmarks as stated. If an Applicant falls below the required level for any of the applicable Target Market percentage benchmarks, it will not be eligible for CDFI Certification.

As a means of meeting the Target Market requirements, an entity may serve a combination of eligible Target Markets. However, for the purposes of calculating the overall Target Market percentage of an entity’s activity, each Financial Product transaction or Financial Service item may be counted towards only one Target Market component (even if the transaction or account qualifies as having been directed to more than one Target Market component).

Collective review for DIHCs, Affiliates of DIHCs, or Subsidiaries of IDIs

For a DIHC, an Affiliate of a DIHC, or a Subsidiary of an IDI to be certified as a CDFI, it must meet the Target Market requirements both:

Individually, based on the Applicant’s own Financial Product and, if elected, Financial Services activity; and
Collectively, based on the aggregate Financial Product and, if elected, Financial Services activity of the Applicant and any Affiliate in its family of entities.

ALTERNATIVE PROVISIONS BY ENTITY TYPE

The following entities may meet the CDFI Certification Target Market requirements through the provisions described.

Depository Institution Holding Companies (DIHCs)

DIHCs that do not directly provide Financial Products or Financial Services, may rely on the activity of all relevant Affiliates subject to the statutory CDFI Certification collective review process. If a DIHC Applicant’s Affiliates have also applied for CDFI Certification, the DIHC will present only the aggregate Financial Product and, if elected, Financial Services activity of all relevant Affiliates for review.

Entities participating in the CDFI Fund’s Bond Guarantee Program (BG Program)

Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s BG Program may meet CDFI Certification Target Market requirements using Financial Product activity that is not arm’s-length, provided that the activity is by and between such entities and their Controlling Certified CDFIs. Such activity must be pursuant to operating agreements that include management and ownership provisions and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(iii)).

Spinoffs

If an entity is eligible for the CDFI Certification provision for Spinoffs (as described in the Financing Entity section of the Application), it must include the following Financial Product and Financial Services activity data for review in connection with the Target Market requirements:

Any Financial Product transactions it closed during the most recently completed full fiscal year, including any Financial Product transactions received as part of a spun-off Financial Product portfolio that were closed by the original entity during the most recently completed fiscal year and that remain on the Spinoff’s balance sheet as of the end of that fiscal year; and
Any depository accounts held by the Spinoff entity that were still open as of the end of the entity’s most recently completed fiscal year.

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

ELIGIBLE TARGET MARKETs

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

Investment Area

An Investment Area meets at least one of the following economic distress criteria and has significant unmet needs for Financial Products and Services, or are wholly located within an Empowerment Zone or Enterprise Community (as designated under section 1391 of the Internal Revenue Code of 1986 (26 U.S.C 1391)).

Economic Distress Criteria:

Poverty rate greater than 20%;
Median family income (MFI) at 80% or below specific MFI benchmarks; or
Unemployment rate 1.5 times the national average.

There are two types of Investment Areas (IAs):

Pre-qualified Investment Area – Qualified Census Tracts Only

A pre-qualified Investment Area consists only of individual census tracts that the CDFI Fund has determined meet one or more of the statutory economic distress criteria. If an Applicant elects to serve an Investment Area comprised of qualified census tracts only, the Financial Product and/or Financial Services activity that falls within qualified census tracts anywhere within the United States and its territories, as demonstrated by using the CDFI Fund’s approved assessment methodologies, is counted as being within the entity’s Target Market.

Customized Investment Areas

Applicants also may establish a customized Investment Area consisting of specially designated geographic areas that:

Include a contiguous mix of both qualified and non-qualified geographic units of a single type, which may be census tracts, non-Metro counties, or parishes; and
validate as a distressed community per the CDFI Fund’s mapping system by meeting the following criteria:
- More than 85% of the population must be in qualified geographic units.
- The geographic units must be contiguous.

If an Applicant designates a customized Investment Area as a Target Market component, only the Financial Products and/or Financial services activity that falls within the boundaries of the mix of tracts is counted as being within a Target Market.

Although financing activity can occur and be counted in individually non-qualifying census tracts within a customized Investment Area, the Applicant must direct at least 85% of its customized Investment Area financing activity within the individually qualified census tracts of that customized Investment Area for activity in the non-qualifying tracts to count toward the 60% Target Market benchmark. Likewise, Applicants must direct at least 85% of eligible financing activity that occurs within non-Metro counties or parishes that qualify as an Investment Area wholly within the individually qualified census tracts of a non-Metro county. The Applicant must use the CDFI Fund’s approved assessment methodologies to demonstrate that it is serving the customized Investment Areas.

Targeted Population

A Targeted Population is defined as individuals, or an identifiable group of individuals who are Low-Income or lack adequate access to Financial Products or Financial Services. The Targeted Population is specific to the individual borrowers whose socio-economic characteristics are used to determine inclusion in the Target Market. The Applicant must use the CDFI Fund’s approved assessment methodologies to demonstrate that it serves the Targeted Population.

Targeted Populations include:

Low-Income Targeted Population (LITP)

Individuals qualify as members of the Low-Income Targeted Population (LITP) if their family income is:

For Metropolitan Areas:

80% of the area median family income (adjusted for family size); or

For non-Metropolitan Areas, the greater of:

80% of the area median family income (adjusted for family size); or

80% of the statewide non-Metropolitan Area median family income (adjusted for family size).

Other Targeted Populations (OTP)

Other Targeted Populations currently recognized by the CDFI Fund are:

Other Targeted Population – African American
Other Targeted Population – Hispanic
Other Targeted Population – Native American (with maintained tribal affiliation or community connection)
Other Targeted Population – Native Alaskan residing in Alaska (with maintained tribal affiliation or community connection)
Other Targeted Population – Native Hawaiian residing in Hawaii
Other Targeted Population – Other Pacific Islander residing in Other Pacific Islands
Other Targeted Population – Persons with Disabilities
Other Targeted Population – Certified CDFIs

Targeted Populations that are not already recognized by the CDFI Fund must be approved by the CDFI Fund before they can be included as part of an entity’s Target Market for CDFI Certification purposes.

To request such approval, Applicants must submit a Service Request in AMIS for the CDFI Fund’s consideration in advance of an Application submission that includes the following information:

A name and description of the Other Targeted Population;
A narrative that demonstrates that the specific Other Targeted Population(s) has significant unmet capital or financial services needs; and
Specific studies or surveys (published by credible independent third party sources within five years prior to the submission of the Certification Application) for the immediate (not national) geographic population service area.

MAPPING REQUIREMENTS

Target Market maps are required for Customized Investment Area Target Market Components and certain Other Targeted Populations.

The CDFI Information Mapping System (CIMS) provides mapping and geocoding capabilities to support the Application process and to assess the eligibility of investments, lending, and Financial and Development Services activities in specific geographic areas. Applicants are able to upload and process accurate batch geo-coding of addresses, whether these be prospective locations for individual projects or actual transactions funded, and to confirm addresses of relevant board members.

Maps must be created for each proposed Customized Investment Area Target Market and for any newly requested Other Targeted Populations not already on the CDFI Fund’s list of currently recognized Other Targeted Populations. Applicants creating maps for a new Application or modifying an existing Customized Investment Area Target Market must utilize the most recent set of eligible census tracts deployed for use by the CDFI Fund. Refer to the CIMS user guidance for further information on creating Target Market maps.

COMPILING TARGET MARKET DATA

Data on Financial Product activity presented for review in connection with the Target Market requirements must be submitted in the TLR based on the date the Financial Product transactions were closed or, in the case of active, outstanding Loan Purchases, on the date the bundle of loans were purchased.

Even if related funds were not disbursed on that date or were not eventually fully disbursed, the transaction amounts must be the total amount of financing approved.

The CDFI Fund counts credit card products and lines of credit as Financial Products. Credit card and lines of credit product activity should be presented for review in connection with the Target Market requirements as follows:

Each new account opened and issued will count as one Financial Product transaction.
The date an account was opened and issued will be considered the date the Financial Product transaction was closed; not each time the credit is used, nor each year the credit is used.
The credit limit approved when the account was first opened will constitute the transaction amount, not individual charges or draws or the outstanding balance.

The CDFI Fund counts loan purchases from CDFIs and Target Market loans purchased from non-CDFIs as Financial Products. Loan Purchases should be presented for review in connection with the Target Market requirements as follows:

Loan Purchases from CDFIs, whether purchased individually or in bundle, are recognized as Financial Products directed to an “OTP – Certified CDFIs” Target Market. Each bundled Loan Purchase from a CDFI will count as a single Financial Product transaction.
Target Market loans purchased from non-CDFIs are recognized as Financial Products directed to the Target Market(s) of the original borrowers. Applicants that purchase Target Market loans from non-CDFIs in bundle may count each of the purchased loans as a single Financial Product transaction.

Note: Upon Certification, certain organizational information about the Applicant and its activities may be posted on the CDFI Fund’s public website for the purpose of creating a public list and description of Certified CDFIs.

Target Market Assessment Methodologies

A Target Market assessment methodology or combination of such methodologies must be used to verify whether or not Financial Products, depository accounts, board members, and/or credit union members meet the Target Market criteria.

Only those methodologies approved by the CDFI Fund may be used when compiling Target Market data. A list of pre-approved Target Market assessment methodologies can be found on the CDFI Fund website.

Applicants may request separate approval of a methodology not previously approved by the CDFI Fund. Applicants that seek to use a Target Market assessment methodology other than one that appears on the list of pre-approved methodologies, including the use of programmatic proxy assessments, must submit a Service Request in AMIS for the CDFI Fund to consider in advance of an Application submission. For each proposed methodology, the Applicant should include the following information in its AMIS Service Request:

The applicable Target Market (IA/LITP/OTP)
Data Collected (e.g. data fields, time period, reporting level)
Model/Method design (e.g. mathematical equations, relationship between data fields, etc.)
Documents reviewed (e.g. contracts, agreements, white paper, etc.)
The step by step process used to collect the data and review any documents or run the model and process its results
If proposing a programmatic proxy, the step by step process used to compare programmatic data to CDFI Fund definitions (e.g. income sources, income thresholds, etc.)
Any record keeping process
The process for updating any methodology dependent on underlying data changes

All Target Market assessment methodologies – whether from the list of pre-approved methodologies or approved separately – must be used exactly as approved, unless and until modification of the process is authorized by the CDFI Fund.

Section	Question or purpose of data field			Response
TM01	Identify a proposed Target Market.			Select at least one: Investment Area – Pre-qualified. Investment Area – Customized. Low-Income Targeted Population. Other Targeted Population – African American. Other Targeted Population – Hispanic. Other Targeted Population – Native American. Other Targeted Population – Native Alaskan residing in Alaska. Other Targeted Population – Native Hawaiian residing in Hawaii. Other Targeted Population – Other Pacific Islander residing in Other Pacific Islands. Other Targeted Population – Persons with Disabilities. Other Targeted Population – Certified CDFIs. New Targeted Population (Pre-approved by the CDFI Fund).
TM02	If the proposed Target Market is a Customized Investment Area: Identify the map that represents the Customized Investment Area, including both qualified and non-qualified census tracts.			Enter map name.
TM03	If the proposed Target Market is an Investment Area:
	TM03.1	What type(s) of Financial Product(s) and/or Financial Service(s) is needed within the Investment Area, but is not currently available at a level sufficient to meet the need?		Select all that apply: Small dollar loans Small business loans Microenterprise loans Equity Investments Mortgage loans Down payment and closing cost assistance loans with deferred repayment Community facility loans Affordable housing development loans Access to affordable Financial Services (depository institutions only) Other
		TM03.1a	If Other, explain.	Provide explanation.
	TM03.2	Indicate the basis for the Applicant’s determination both that there exists a need for the Financial Products and/or 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.
	TM04.2	Attach a letter from the CDFI Fund approving the new Targeted Population.		Attach letter.
TM05	Is the Applicant proposing multiple Target Markets?			Yes or No. If yes, the Applicant will need to repeat the Target Market data entry for each proposed Target Market component.
TM06	Target Market assessment methodology attestation – Financial Product(s) and/or Financial Service(s): Applicant attests that only a CDFI Fund-approved Target Market assessment methodology(ies) was and will continue to be used to determine whether or not Financial Product transactions and/or depository accounts have been directed to an eligible Target Market.			Yes or No.
TM07	Identify the Target Market assessment methodology(ies) used by the Applicant.			Select all that apply. OTP-AA.1: Self Report. OTP-AA.2: Visual & ID. OTP-Hisp.1: Self Report. OTP-Hisp.2: Visual & ID. OTP-Hisp.3: Surname. OTP-Native American.1: Tribal Document. OTP-Native Alaskan.1: Tribal Document. OTP-Native Hawaiian.1: Registry Card. OTP-Pacific Islander.1: Self Report. OTP-Pacific Islander.2: Visual & ID. OTP-PWD.1: Self Report. OTP-PWD.2: Visual & ID. OTP-PWD.3: Technology/ Accessibility. OTP-Certified CDFI.1: Certified CDFI. LITP.1: Full Family Income Data. LITP.2: Programmatic Proxy. IA.1: Residence. IA.2: Project/Service. Separately approved assessment methodology.
	TM07.1	If LITP.2 (programmatic proxy), identify the programmatic proxy.		Select all that apply. HOME. SSDI and/or SSI. Housing Choice Voucher/Section 8. CDBG Program. WIC. SNAP/Food Stamps. NSLP. Separately approved programmatic proxy.
		If “Separately approved programmatic proxy:”
		TM07.1a	Identify the LITP programmatic proxy(ies) the Applicant used and separately approved by the CDFI Fund.	Provide narrative.
		TM07.1b	Attach approval letter(s) from the CDFI Fund for any Financial Product activity-related LITP programmatic proxy used by the Applicant.	Attachment(s).
	TM07.2	If “Separately approved assessment methodology:”
		TM07.2a	Identify the Target Market assessment methodology(ies) used by the Applicant and separately approved by CDFI Fund.	Provide narrative.
		TM07.2b	Attach approval letter(s) from the CDFI Fund for the assessment methodology(ies).	Attachment(s).

TARGET MARKET – GENERAL FINANCIAL PRODUCTS AND FINANCIAL SERVICES ACTIVITY INFORMATION

Section	Question or purpose of data field		Response
TM-G01	Financial Product transaction types closed by the Applicant during its most recently completed fiscal year.		[The Financial Product types will auto-populate based on information provided in “Basic Information – Table 1: Financial Product Information.”]
TM-G02	Does the Financial Product activity data include any Other similar financing that does not appear on the approved list of Financial Products?		Yes or No.
	If Yes:
	TM-G02.1	Enter the product name of the Other similar financing.	Enter names(s).
	TM-G02.2	Attach a letter from the CDFI Fund approving the Other similar financing.	Attach documentation.
Question TM-G03 will be asked only of depository institution Applicants that have selected to use Financial Services to meet the Target Market test
TM-G03	Identify all of the Financial Services account types for which the Applicant’s depository account holders had open as of the last day of last full month completed just prior to submission of the CDFI Certification Application.		Select all that apply: Savings/Share Accounts Checking Accounts Certificates of Deposit Money Market Accounts Specialized Savings Accounts Specialized Checking Accounts

TARGET MARKET ACTIVITY – APPLICANT AND RELEVANT AFFILIATE(S) – FINANCIAL PRODUCT AND FINANCIAL SERVICES ACTIVITY BY FINANCIAL PRODUCT/FINANCIAL SERVICES CATEGORY AND TARGET MARKET COMPONENT (MOST RECENTLY COMPLETED FISCAL YEAR)

Applicant and relevant Affiliate(s) data, presented by Financial Product category, will be collected in the TLR. The data must include all Financial Product transactions, by number and dollar, that were closed during the Applicant’s most recently completed fiscal year. Transactions provided to the proposed Target Market components must be identified in the TLR in order to count towards the 60% requirement. In order to be approved for each Target Market component identified in the TLR, the Applicant will need to demonstrate the appropriate level of accountable board members using appropriate sources of accountability.

(Simulated Table – actual display in AMIS may differ)

Target Market Table 1: Financial Products Test
Proposed Target Market Components	Percent of Target Market Financial Products – Number	Percent of Target Market Financial Products – Dollar Volume
[Auto display each TM component]	[Auto calculated]	[Auto calculated]
Total Target Market	[Auto calculated]	[Auto calculated]
Target Market threshold met?	[Auto display – Yes or No]	[Auto display – Yes or No]

Depository Institutions selecting the option to use Financial Services to meet the Target Market test because their Target Market Financial Product dollar volume is between 50% - 59%, must also enter the data for all relevant, unique depository account holders as of the fiscal year end in the TLR.

(Simulated Table – actual display in AMIS may differ)

Target Market Table 2: Financial Services Test
Proposed Target Market Components	Percent of Target Market Financial Products – Number	Percent of Target Market Financial Products – Dollar Volume	Percent Target Market unique depository account holders
[Auto display each TM component]	[Auto calculated]	[Auto calculated]	[Auto calculated]
Total Target Market	[Auto calculated]	[Auto calculated]	[Auto calculated]
Target Market threshold met?	[Auto display – Yes or No]	[Auto display – Yes or No]	[Auto display – Yes or No]

Development Services

To be a Certified CDFI, the Applicant shall provide Development Services in conjunction with its Financial Products either directly, through an Affiliate, or through a contract with another provider.

A Development Service is a formal, structured, stand-alone training, counseling, or technical assistance service that promotes access to and/or success with an entity’s Financial Products, and that the entity offers separately and distinctly from its other products/services.

CDFI Certification Applicants must:

Offer at least one Development Service;
Demonstrate that they maintain control over the content and delivery parameters of their Development Service(s);
Clearly link the Development Service(s) provided by the Applicant, a relevant Affiliate or third party entity under an agreement, to at least one of the Applicant’s Financial Products;
Make at least one Development Service available on an ongoing basis at least four times per year;

Development Services should address subject matter that prepares consumers to access and be successful in using an entity’s Financial Products (e.g., first-time homebuyer counseling for prospective mortgage borrowers).

Publically-available online training can be considered a Development Service only if the Applicant can demonstrate that it has a relationship with the developer of the training, either because the Applicant is the developer, an Affiliate is the developer, or the Applicant has a service agreement in place with the developer.

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

Training, counseling, or technical assistance not clearly intended to prepare consumers to access and/or be successful with a Financial Product offered by the Applicant. Examples of such services include workforce development, parenting training/support groups, and training/counseling intended solely to enable consumers to access financing provided by other entities.

The process of making referrals, whether it be to training, counseling, or technical assistance available to services provided at the discretion of other entities.

Information presented in newsletters, flyers, or online.

Workshops for children or conferences/workshops for broad audiences.

Presentations made at one-off events (e.g. annual conferences, fairs), or at events held by other entities.

Marketing events/activities.

Services provided at the will and discretion of other entities (e.g., publically-available online training).

Unstructured conversations with consumers on Development Services subject matter.

Applicants participating in the CDFI Fund’s BG Program

Entities applying for Certification solely for participation as Eligible CDFIs in the CDFI Fund’s CDFI BG Program may be exempt from the following Development Services requirements that require training/counseling to be:

Offered at arm’s-length; and/or

Provided in connection with financing products or services that the Applicant offers on-balance sheet, but not at arm’s length.

To qualify for this exemption, the training/counseling and/or the related non-arm’s-length financing products or services must be provided by and between such entities and their Controlling Certified CDFI. Such activities must be pursuant to operating agreements that include management and ownership provisions and that are in a form and substance acceptable to the CDFI Fund (see 12 CFR 1805.201(b)(2)(C)(ii-iii)) and the relevant training/counseling must meet all other Development Services requirements.

Section	Question or purpose of data field			Response
DS01	Does the Applicant seek to use the CDFI Certification provision for BG Program participation, solely to participate in the CDFI Fund’s BG Program, to meet the CDFI Certification Development Services requirements?			Yes or No.
		If Yes:
	DS01.1	If the Applicant seeks to meet the CDFI Certification Development Services requirements using training/counseling it offers, but not at arm’s length: Identify the page number(s) and/or section(s) of the operating agreement between the Applicant and a Controlling Certified CDFI that indicates that the training/counseling activity is by and between the Applicant and the 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) or service(s) it offers on-balance sheet, but not at arm’s length: Identify the page number(s) and/or section(s) of the operating agreement between the Applicant and a Controlling Certified CDFI, indicating such financing product(s) or service(s) for which training/counseling is being provided, is offered by and between the Applicant and its Controlling Certified CDFI, and provide the relevant text.		Enter page number(s) and/or section(s) and provide relevant text.
DS02	Identify the topic of a Development Service currently offered by the Applicant (directly or through another provider/resource) to un-Affiliated third parties that promotes success with at least one of the Applicant’s Financial Products or Financial Services?			Select topic: Financial Education/Financial Literacy. Credit Building. Financial Management. Small Business Development. Homeownership Counseling/Foreclosure Prevention. Nonprofit Capacity Building. Affordable Housing/Commercial Real Estate Development. Basic Banking Skills. Introduction to retirement saving. Financial Management/Budgeting. Banking for businesses. Other.
DS02	DS02.1	If “Other,” describe the topic and explain how it is relevant as a Development Service.		Provide narrative.
DS03	Is this Development Service being offered by the Applicant in connection with one of its Financial Product(s)?			Yes or No.
	DS03.1	If yes, identify at least one Financial Product purpose that is offered by the Applicant that is directly related to the Development Service topic.		Select all that apply: Home Purchase. Home Improvement. Real Estate–Construction/ Permanent/Acquisition without Rehabilitation–Commercial. Real Estate–Construction–Housing–Multi Family. Real Estate–Construction–Housing–Single Family. Real Estate–Rehabilitation–Commercial. Real Estate–Rehabilitation–Housing–Multi Family. Real Estate–Rehabilitation–Housing–Single Family. Consumer. Non-Real Estate Business. Non-Real Estate Microenterprise. Climate-Centered Finance. Other.
	DS03.1	DS03.1a	If “Other,” describe.	Provide narrative.
DS04	Identify the entity that provides one or more Development Services.			Select all that apply: Applicant. Affiliate(s). Non-Affiliate(s) (e.g., contractor).
	DS04.1	If “Non-Affiliate,” provide agreement.		Attach Agreement(s).

ACCOUNTABILITY

To be a CDFI, an entity must maintain accountability to residents of its Investment Area or Targeted Population, through representation by individuals on its governing board and/or Advisory Board(s). Individual accountability to a Target Market may be demonstrated through any of the following means:

Investment Area (IA)	Low-Income Targeted Populations (LITP)	Other Targeted Population (OTP)
Residence in a qualified census tract	Status as a Low-Income individual	Status as a member of the Targeted Population
Status as an owner of a small business located in a qualified census tract(s) or owner of a small business that principally employs and/or principally provides goods or services to residents of the IA	Status as an executive staff member of a third party, mission-driven organization that primarily provides services to Low-Income people	Status as an executive staff member of a Certified CDFI (OTP-CDFI only)
Status as an elected official primarily representing residents of qualified census tracts		Status as an executive staff member of a third party, mission-driven organization that primarily provides services to the Other Targeted Population (OTP – Persons with Disability only)
Status as an executive staff²² member of a third party, mission-driven organization that primarily provides services to residents of a qualified census tract(s)		Status as a family member of a person with disability (OTP – Persons with Disability only)

The CDFI Fund requires that a governing board consist of no less than three (3) members and that an Advisory Board consist of no less than five (5) members.

In determining whether an Applicant maintains accountability to its proposed Target Market(s), Applicants must demonstrate accountability to a proposed Target Market(s) through at least one of the following options:

Option 1: Governing Board Only

At least one governing board member is accountable to each proposed Target Market, and
At least 33% of the governing board is accountable to the overall proposed Target Market(s);

Option 2: Governing Board Supplemented by Advisory Board

At least 20% of the governing board members are accountable to at least one proposed Target Market;
At least one Advisory Board member is accountable to each proposed Target Market;
At least 60% of the Advisory Board is accountable to the overall proposed Target Market(s);
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.

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

At least 33% of a credit union’s members are determined to be members of an individual Target Market, using a CDFI Fund-approved Target Market assessment methodology;
At least one Advisory Board member is accountable to each proposed Target Market;
At least 60% of the Advisory Board is accountable to the overall proposed Target Market(s);

At least one governing board member has a seat on the Advisory Board; and

The Applicant has adopted an organizational accountability policy.

Option 4: Advisory Board Only (DIHC and IDI Applicants, and Applicants without a formal governing board only):

At least one Advisory Board member is accountable to each proposed Target Market;
At least 80% of the Advisory Board is accountable to the overall proposed Target Market(s);
At least one governing board member or partner/owner of the Applicant entity has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.

Assessing an Advisory Board

In addition to the review of each board member, the CDFI Fund also will assess an Advisory Board to verify:

It is governed by an organizational accountability policy.
It meets a minimum of three (3) times a year.
How the board members were selected.
It uses its connection with the Target Market to obtain input that informs the recommendations to the governing board.
The activities/policies on which it provides input to the governing leadership.

Assessing an Organizational Accountability Policy

At minimum, an organizational accountability policy must include a description of the following:

The role of the Advisory Board, including methods by which the Advisory Board has the opportunity to provide advice to the governing board and other decision-makers (e.g. regular meetings, written feedback on strategic decisions, etc.)
How the Applicant informs itself about the Target Market(s) (e.g. gathers data, engages in outreach to community members, etc.)

FINANCIAL INTEREST POLICY

The CDFI Fund's financial interest policy for CDFI Certification Accountability is intended to prevent board members with certain types of financial interest in an organization (either directly or via a family member) from being considered accountable to any Target Market component, as the financial interest may conflict with a board member's ability to effectively represent the interests of the Target Market. Governing Board and Advisory Board members who are principals (i.e., individuals owning or controlling at least 25% of an entity) or staff members of the Applicant organization or its Subsidiaries or Affiliates, or whose family members are principals or staff members, cannot be used to demonstrate Target Market Accountability. A financial conflict of interest also includes board members who have active loan products from the Applicant or that receive financial compensation for their board service above and beyond any reasonable cost reimbursement for travel or expenses incurred.

For purposes of the financial conflict policy, relevant family members include spouses; children (including step-, in-law, and adopted children); or other family members of the board member’s household (e.g., siblings (including step-, half, and in-law siblings; parents (including step- and in law parents); and grandparents related by blood or adoption).

ACCOUNTABILITY – GENERAL INFORMATION

Section	Question or purpose of data field	Response
AC01	Source of Accountability – Applicant	Select one: Governing board only. Governing board and Advisory Board. Credit union membership and Advisory Board (credit union only). Advisory Board only (DIHCs, IDIs, and those with no formal governing board only).
AC02	Source of Accountability – Affiliate(s)	Select one: Governing board. Governing board and Advisory Board. Credit union membership and Advisory Board (credit unions only). Advisory Board only (DIHCs, IDIs, and those with no formal governing board only).

Section

Question or purpose of data field

Response

AC01

Source of Accountability – Applicant

Select one:

Governing board only.
Governing board and Advisory Board.
Credit union membership and Advisory Board (credit union only).
Advisory Board only (DIHCs, IDIs, and those with no formal governing board only).

AC02

Source of Accountability – Affiliate(s)

Select one:

Governing board.
Governing board and Advisory Board.
Credit union membership and Advisory Board (credit unions only).
Advisory Board only (DIHCs, IDIs, and those with no formal governing board only).

ACCOUNTABILITY – GOVERNING AND/OR ADVISORY BOARD (IF APPLICABLE)

Section	Question or Purpose of data field								Response
AC03	If the Applicant or any relevant Affiliate will use its governing board to maintain Accountability to the Applicant’s proposed Target Market(s), identify that board.								Enter board name.
	If the Applicant or any relevant Affiliate will use credit union membership and an Advisory Board to maintain Accountability to the Applicant’s proposed Target Market(s):
	AC03.1		Total number of credit union members active with the Applicant as of the last day of the last month of the 12 full months completed immediately prior to submission of the Application.						Enter number.
	AC03.2		Identify Target Market that will be used to demonstrate accountability through credit union membership.						Select one: Investment Area – Pre-qualified. Investment Area – Customized. Low-Income Targeted Population. Other Targeted Population – African American. Other Targeted Population – Hispanic. Other Targeted Population – Native American. Other Targeted Population – Native Alaskan residing in Alaska. Other Targeted Population – Native Hawaiian residing in Hawaii. Other Targeted Population – Other Pacific Islander residing in Other Pacific Islands. Other Targeted Population – Persons with Disabilities. Other Targeted Population – Certified CDFIs. New Targeted Population (Pre-approved by the CDFI Fund).
			AC03.2a			If “New Targeted Population,” enter the name of the Targeted Population exactly as it appears in the approval letter from the CDFI Fund.			Enter name.
	AC03.3		What is the total number of credit union members who are members of this Target Market?						Enter the total number of credit union member who are members of the Target Market.
	AC03.4		Calculate percentage of credit union members who are members of this Target Market.						[May auto-calculate] Enter percentage of credit union members who are members of the Target Market.
	AC03.5		Applicant attests that only a CDFI Fund-approved Target Market assessment methodology(ies) has been and will continue to be used to determine whether credit union members are of an eligible Target Market.						Yes or No.
AC04	If the Applicant or any relevant Affiliate will use an Advisory Board to maintain Accountability to the Applicant’s proposed Target Market(s), identify that Advisory Board.								Enter board name.
	AC04.1		Does the Applicant have an organizational accountability policy that has been board approved?						Yes or No. If No, the Applicant is unable to use an Advisory Board.
			If Yes:
			AC04.1a			Does the policy describe the role of the Advisory Board?			Yes or No.
			AC04.1b			Does the policy detail how the Advisory Board informs itself about the Target Market?			Yes or No.
			AC04.1c			Does the policy describe the Advisory Board method for providing advice to the governing board?			Yes or No.
			AC04.1d			Attach the board approved organizational accountability policy.			Attach.
	AC04.2		Does the board meet at least three (3) times a year? The CDFI Fund requires the Advisory Board to meet at least three (3) times a year.						Yes or No. If no, the Applicant is not eligible for Certification.
	AC04.3		Basis upon which members of the Advisory Board are selected.						Select one or more: For ability to solicit feedback from the Target Market. For knowledge of the needs and condition of the Target Market. For knowledge of Financial Products and/or Financial Services. For knowledge of strategic planning and/or policies and procedures for financial institutions. Other.
	AC04.3		AC04.3a			If “Other,” describe the other basis upon which Advisory Board members are selected.			Provide description.
	AC04.4		How do Advisory Board members obtain their input from the proposed Target Market?						Selection one or more: Direct involvement with the Target Market. Focus groups. Participation in community meetings. Survey. Review of research reports. Other.
	AC04.4		AC04.4a			If “Other,” describe the other ways in which Advisory Board members obtain their input from the proposed Target Market.			Provide description.
	AC04.5		On what activities/policies does the Advisory Board provide input to the governing leadership?						Select one or more: Loan Product/Financial Services development. Organizational Policy development. Strategic planning. Marketing strategies. Development Services. Other.
	AC04.5		AC04.5a			If “Other,” describe the other activities/policies for which the Advisory Board provides input to the governing leadership.			Provide description.
Applicants will enter all relevant board member data in questions AC05-AC13 for each board and for each board member.
AC05	Total number of board members.								Enter number.
AC06	Board member name.								Enter name.
AC07	If the Applicant is using an Advisory Board to meet the Accountability test, does the member of the Advisory Board also serve on the Applicant’s governing board or is the member also a partner/owner?								Yes or No.
AC08	Is this board member or any member of their family an employee of the Applicant or any of its Affiliates?								Yes or No. If Yes, no further information on this board member is required as this board member is ineligible to be presented as accountable. If No, continue to the next question.
AC09	Does the board member or any member of their family, individually or in combination, own or control 25% or more of the Applicant or any of its Affiliates?								Yes or No. If Yes, no further information on this board member is required as this board member is ineligible to be presented as accountable.
AC10	Does the board member, the board member’s employer, or any member of the board member’s family have an active Financial Product from the Applicant?								Yes or No. If Yes, no further information on this board member is required as this board member is ineligible to be presented as accountable. If No, continue to the next question.
AC11	Does the board member receive financial compensation for their service on the board other than reimbursement for travel or other expenses incurred as a result of their service as a board member?								Yes or No. If Yes, no further information on this board member is required as this board member is ineligible to be presented as accountable.
AC12	Is this board member accountable to a Target Market?								Yes or No. If No, no further information on this board member is required. If Yes, continue to the next question.
AC13	Identify the Target Market to which the board member is accountable.								Select all that apply [A list of the Applicant’s Target Markets will be auto-populated based on information entered in TM01.]
Questions AC14-AC18 will be asked only of board members identified as accountable to a Pre-qualified Investment Area
Means of Accountability – Pre-qualified Investment Area
AC14	What means of accountability does the board member use to demonstrate that they are currently connected to a Pre-qualified Investment Area?								Select all that apply: Resides in a qualified census tract. Small business owner of a business located in a qualified census tract(s). An elected official serving qualified census tracts. Executive staff member of a mission-driven organization that primarily provides services to residents of qualified census tracts.
AC15	If the board member is listed as accountable as a resident of a qualified census tract, provide the FIPS²³ code for the census tract in which the board member resides.								Enter FIPs code.
AC16	If the board member is listed as accountable as the owner of a small business that is located in a qualified census tract:
	AC16.1		What percentage of ownership does the board member have in the business?						Enter percentage.
	AC16.2		What is the name of the business owned by the board member?						Enter name.
	AC16.3		Does the business have multiple locations (e.g., a franchise)?						Yes or No.
			If Yes:
			AC16.3a				Are at least 51% of the businesses located in a qualified census tract?		Yes or No.
			AC16.3b				What are the FIPs codes of the business locations?		Enter the business FIPs code. Enter the FIPs code for each business location.
			If No:
			AC16.3c				Is the business located in a qualified census tract?		Yes or No.
			AC16.3d				What is the FIPs code of the business location?		Enter the business FIPs code.
	AC16.4		If the small business is not located in a qualified census tract, the Applicant must demonstrate that the business principally employs residents of qualified census tracts.						Provide narrative.
AC17	If the board member is listed as accountable as an elected official serving qualified census tracts:
	AC17.1			Provide the total number of census tracts under the elected official’s jurisdiction.					Enter number.
	AC17.2			Provide the total number of qualified census tracts under the elected official’s jurisdiction.					Enter number.
	AC17.3			Percentage of qualified census tracts under the elected official’s jurisdiction. Percentage of qualified census tracts must be greater than 50% for the board member to be considered accountable.					Auto calculated.
AC18	If the board member is listed as accountable as an executive staff member of a third party, mission-driven organization that primarily provides services to residents of qualified census tracts:
	AC18.1			Provide the name of the third party organization.					Enter name.
	AC18.2			Provide the mission statement of the organization.					Enter mission statement.
	AC18.3			Identify, in terms of county(ies) or state(s), the geography of the market served by the organization.					Enter market.
	AC18.4			Provide the employee’s job title.					Enter job title.
	AC18.5			Describe how the board member’s employment allows them to connect to qualified census tracts.					Provide description.
Questions AC19-AC23 will be asked only for board members identified as accountable to a Customized Investment Area
		Means of Accountability – Customized Investment Area
AC19		What means of accountability does the board member use to demonstrate that they are currently connected to the customized Investment Area?							Select all that apply: Resides in a qualified census tract of the customized Investment Area. Small business owner where the business is located in a qualified census tract(s). An elected official serving the customized Investment Area. Executive staff member of a mission-driven organization that primarily provides services to residents of the customized Investment Area.
AC20		If the board member is listed as accountable as a resident of a qualified census tract of the customized Investment Area, provide the FIPS code for the census tract in which the board member resides.							Enter FIPs code.
AC21		If the board member is listed as accountable as the owner of a small business that is located in a qualified census tract of the customized Investment Area:
		AC21.1		What percentage of ownership does the board member have in the business?					Enter percentage.
		AC21.2		What is the name of the business owned by the board member?					Enter name.
		AC21.3		Does the business have multiple locations (e.g., a franchise)?					Yes or No.
				If Yes:
				AC21.3a				Are at least 51% of the businesses located in a qualified census tract of the customized Investment Area?	Yes or No.
				AC21.3b				What are the FIPs codes of the business locations?	Enter the business FIPs code. Enter the FIPs code for each business location.
								If No:
				AC21.3c				Is the business located in a qualified census tract of the customized Investment Area?	Yes or No.
				AC21.3d				What is the FIPs code of the business location?	Enter FIPs code.
		AC21.4		If the small business is located in the customized Investment Area but not in a qualified census tract, the Applicant must demonstrate that the business principally employs residents of the Investment Area.					Provide narrative.
AC22		If the board member is listed as accountable as an elected official serving the customized Investment Area:
		AC22.1		Provide the total number of census tracts under the elected official’s jurisdiction.					Enter number.
		AC22.2		Provide the total number of qualified census tracts under the elected official’s jurisdiction.					Enter number.
		AC22.3		Percentage of qualified census tracts under the elected official’s jurisdiction. Percentage of qualified census tracts must be greater than 50% for the board member to be considered accountable.					Auto calculated
AC23		If the board member is listed as accountable as an executive staff member of a third party, mission-driven organization that primarily provides services to residents of the customized Investment Area:
		AC23.1		Provide the name of the third party organization.					Enter name.
		AC23.2		Provide the mission statement of the organization.					Enter mission statement.
		AC23.3		Identify, in terms of county(ies) or state(s), the geography of the market served by the organization.					Enter market.
		AC23.4		Provide the employee’s job title.					Enter job title.
		AC23.5		Describe how the board member’s employment allows them to be connected to the customized Investment Area.					Provide narrative.
Questions AC24-AC26 will be asked only for board members identified as accountable to a Low-Income Targeted Population
Means of Accountability – Low-Income Targeted Population
AC24		What means of accountability does the board member use to demonstrate that they are currently connected to a Low-Income Targeted Population?							Select all that apply: Low-Income individual Executive staff member of a mission-driven organization that primarily provides services to Low-Income people
AC25		If the board member is listed as accountable to the Low-Income Targeted Population as a Low-Income person, has the Applicant verified the board member’s income?							Yes or No or N/A.
AC26		If the board member is listed as accountable as an executive staff member of a third party, mission-driven organization that primarily provides services to Low-Income people:
		AC26.1		Provide the name of the third party organization.					Enter name.
		AC26.2		Provide the mission statement of the organization.					Enter mission statement.
		AC26.3		Provide the employee’s job title.					Enter job title.
		AC26.4		Describe how the board member’s employment allows them to be connected to qualified census tracts.					Provide narrative.
Questions AC27-AC31 will be asked only for board members identified as accountable to an Other Targeted Population
		Means of Accountability – Other Targeted Population
AC27		Other Targeted Population What means of accountability does the board member use to demonstrate that they are currently connected to the Other Targeted Population?							Select all that apply: Member of the Other Targeted Population. Executive staff member of a Certified CDFI (OTP-CDFI only). Executive staff member of a mission-driven organization that primarily provides services to the Other Targeted Population (OTP – Persons with Disability only). Family member of a person with disability (OTP – Persons with Disability only).
AC28		If the board member is listed as accountable as a member of the Other Targeted Population, identify the assessment methodology used to confirm. (See guidance for acceptable means of assessment by OTP.) Identify each method used if the board member is listed as accountable to more than one Other Targeted Population.							Select all that apply: OTP-AA.1: Self Report. OTP-AA.2: Visual & ID. OTP-Hisp.1: Self Report. OTP-Hisp.2: Visual & ID. OTP-Hisp.3: Surname. OTP-Native American.1: Tribal Document. OTP-Native Alaskan.1: Tribal Document. OTP-Native Hawaiian.1: Registry Card. OTP-Pacific Islander.1: Self Report. OTP-Pacific Islander.2: Visual & ID. OTP-PWD.1: Self Report. OTP-PWD.2: Visual & ID. OTP-PWD.3: Technology/ Accessibility. OTP-Certified CDFI.1: Certified CDFI. Separately approved assessment methodology.
		If “Separately approved assessment methodology:”
		AC28.1			Identify the assessment methodology(ies) approved by the CDFI Fund.				Narrative.
		AC28.2			Attach a letter(s) from the CDFI Fund approving the assessment methodology(ies).				Attachment(s).
AC29		If the board member is listed as accountable to the Other Targeted Population – CDFI:
		AC28.1		Provide the name of the Certified CDFI.					Enter name.
		AC28.2		Provide the employee’s job title.					Enter job title.
AC30		If the board member is listed as accountable as an executive staff member of a third-party, mission-driven organization that primarily serves persons with disabilities:
		AC30.1		Provide the name of the organization.					Enter name.
		AC30.2		Provide the mission statement of the organization.					Enter mission statement.
		AC30.3		Provide the employee’s job title.					Enter job title.
		AC30.4		Describe how the board member’s employment allows him/her to be connected to Persons with Disability.					Provide description.
AC31		If the board member is listed as accountable as a family member²⁴ of a person with disability, identify the relationship of the board member to the person with disability.							Select all that apply: Spouse Parent. Child. Sibling. Aunt or Uncle. Grandparent. Stepparent. Stepchild. Stepsibling. In-law parent. In-law sibling.
Repeat board member data entry for each board member.
Repeat board and board member data entry for each board if multiple boards are being used to demonstrate accountability.
If there are multiple entities that must demonstrate accountability to the Applicant’s proposed Target Market, repeat board and all board member data entry for each such entity.

Non-Governmental Entity

To be a Certified CDFI, the Applicant may not be an agency or instrumentality of the United States, or of any State or political subdivision therein. An entity that is created by, or formed in partnership with a government or government Controlled entity, or receives substantial assistance from a government entity may be a CDFI, provided it is not Controlled by such entities and maintains independent decision-making authority over its activities.

A CDFI that is operated or Controlled by a Tribal Government is eligible to apply for Certification. Indian tribes are not agencies or instrumentalities of the U.S. or any state.

Transition Away from Government Control

No government or government-Controlled entity has a Controlling ownership interest in the Applicant by being one of its owners, members or partners or, if the Applicant issues stock, by owning or having the power to vote 25% or more of the voting stock shares.
No government or government-Controlled entity and no officials or employees of any such entity have the authority to occupy or select who will occupy either the majority or a substantial minority of the Applicant’s governing leadership positions (e.g., governing/managing board members, managing member, managing partner, etc.).
The Applicant’s governing leadership has not consisted of a majority or substantial minority of officials or employees of a particular government or government-Controlled entity.

Section	Question or purpose of data field			Response
NGE01	Do one or more government entities or officials Control the election or appointment of a majority of the members of the Applicant's governing board or Control a substantial minority of such members?			Yes or No.
NGE01	NGE01.1	If yes, explain how this circumstance is not evidence of government Control.		Provide narrative.
NGE02	Does a government or government-Controlled entity have a Controlling ownership interest in the Applicant as one of its owners, members, or partners or, if the Applicant issues stock, by owning or having the power to vote 25% or more of the voting stock shares?			Yes or No.
NGE02	NGE02.1	If yes, explain how this circumstance is not evidence of government Control.		Provide explanation.
NGE03	Does the Applicant’s governing board contain members that are government officials (elected, appointed, employees, etc.)?			Yes or No.
	If Yes:
	NGE03.1	Identify the governing board members that are government officials including the relevant government entity and the board member’s role with that entity.		Select all that apply [Auto-populated list of board members entered in Accountability section.]
	NGE03.2	Does a majority or substantial minority of the Applicant’s board of directors consist of government officials (elected, appointed, employees, etc.)?		Yes or No.
	NGE03.2	NGE03.2a	If yes, explain how this circumstance is not evidence of government Control.	Provide explanation.
	NGE03.3	Does the Applicant’s organizing/establishing documents or by-laws require that a certain number of the Applicant’s governing board be government employees or elected/appointed government officials?		Yes or No.
	NGE03.3	NGE03.3a	If yes, explain how this circumstance does not constitute government Control.	Provide explanation.
NGE04	Does one or more government entities have veto power over the selection of the Applicant’s executive director, CEO, or comparable officer, or over specific investment decisions?			Yes or No.
NGE04	NGE04.1	If yes, explain how this circumstance does not constitute government Control.		Provide explanation.
NGE05	Does any government entity provide more than 50% of the Applicant’s operating and/or capital budget?			Yes or No.
	If Yes:
	NGE05.1	Explain how this circumstance does not constitute government Control.		Provide explanation.
	NGE05.2	Does that government entity have the ability to control the use of those funds?		Yes or No.
	NGE05.3	Attach a copy of the contract or grant agreement(s) for any government entity that provides operating and/or capital funds to the Applicant.		Attachment(s).
	NGE05.4	Provide the page number of the document that provides confirmation.		Enter page number(s).
NGE06	Does any government entity manage any aspect of the Applicant’s operations?			Yes or No.
NGE06	NGE06.1	If yes, explain how this circumstance does not constitute government Control.		Provide explanation.
NGE07	Are any of the employees of the Applicant government employees or employees of an organization Controlled by one or more government entities?			Yes or No.
NGE07	NGE07.1	If yes, explain how this circumstance does not constitute government Control.		Provide.
NGE08	If the Applicant is Controlled by another entity, is that entity Controlled by one or more government entities?			Yes or No.
	NGE08.1	If yes, explain how this circumstance does not constitute government Control of the Applicant.		Provide explanation.
NGE09	Does 50% or more of the Applicant’s funding to support programs or activities developed by that government entity and implemented by the Applicant on behalf of that government entity come from a single government entity?			Yes or No.
	If Yes:
	NGE09.1	Explain how this funding does not constitute government Control.		Provide explanation.
	NGE09.2	Attach a copy of contract(s).		Attachment(s).
	NGE09.3	Provide the page number of the document that provides confirmation		Enter page number(s).

Native CDFI Designation

To receive the Native CDFI designation, an entity must:

meet all other CDFI Certification requirements;

primarily serve Native Communities, as evidenced by at least 50% of its Financial Product activity (both number and dollar volume) having been directed to one or more Native Communities during the Applicant’s most recently completed full fiscal year prior to the submission of the CDFI Certification Application;²⁵ and

demonstrate accountability to a Native Community through at least one of the following options:

Option 1: Governing Board Only

At least 33% of the governing board are accountable to a Native Community population or Native Community geography; and
At least 50% of such representative board members are members of a Native Community population(s).

Option 2: Advisory Board and Governing Board

At least 60% of an Advisory Board are accountable to a Native Community population or Native Community geography;
At least 50% of such representative board members are members of a Native Community population(s);
At least 20% of the governing board members are accountable to a Native Community population or Native Community geography;
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.

Option 3: Credit Union Membership Supplemented by Advisory Board (credit union Applicant only)

At least 33% of a credit union’s members are determined to be either members of a Native Community population or residents of a Native Community geography, using a CDFI Fund-approved Target Market assessment methodology;

At least 60% of the Advisory Board are accountable to a Native Community population or Native Community geography;
At least 50% of such representative board members are members of a Native Community population(s);
At least one governing board member has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.

Option 4: Advisory Board Only (DIHC and IDI Applicants and Applicants without a formal governing board only)

At least 80% of the Advisory Board are accountable to a Native Community population or Native Community geography;
At least 50% of such representative board members are members of a Native Community population(s);
At least one governing board member or partner/owner of the Applicant entity has a seat on the Advisory Board; and
The Applicant has adopted an organizational accountability policy.

* Native Communities include the following populations: Native American/American Indian with maintained tribal affiliation or community attachment, Native Alaskan residing in Alaska with maintained tribal affiliation or community attachment, and Native Hawaiian residing in Hawaii; and the following geographies: Native American areas defined as Federally-designated reservations, Hawaiian homelands, Alaska Native Villages and/or U.S. Census Bureau designated Tribal Statistical Areas.

Individual accountability to a Native Community may be demonstrated through any of the following means:

Membership in a Native Community population
Residence in a Native Community geography
Status as a small business owner, where the business is located in a Native Community geography
Status as an elected Tribal Government official serving the Native Community
Status as an executive staff member of a mission-driven organization that primarily provides services to residents of the Native Community

Note: the statutorily required collective review process for DIHCs, affiliates of DIHCs, and Subsidiaries of IDIs, required for the general CDFI Certification, does not apply to the Native CDFI designation. However, DIHCs that do not directly provide Financial Products or Financial Services may rely on the activity of an Affiliate to meet the Native CDFI designation requirement.

NATIVE CDFI DESIGNATION – GENERAL

Section	Question or purpose of data field	Response
NA01	Does the Applicant want to be designated as a Native CDFI?	Yes or No. [If no, no further questions in this section.]
NA02	If the Applicant provided Financial Products and/or depository accounts to any Native Community(ies) during the immediate 12 full months completed prior to submission of the CDFI Certification Application, identify the Native Community(ies) that 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 Statistical Area(s).

Section

Question or purpose of data field

Response

NA01

Does the Applicant want to be designated as a Native CDFI?

Yes or No.

[If no, no further questions in this section.]

NA02

If the Applicant provided Financial Products and/or depository accounts to any Native Community(ies) during the immediate 12 full months completed prior to submission of the CDFI Certification Application, identify the Native Community(ies) that 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 Statistical Area(s).

NATIVE CDFI DESIGNATION – ACTIVITY DIRECTED TO NATIVE COMMUNITIES

Applicant and relevant Affiliate(s) data presented by Financial Product category will be collected in the TLR. The data must include all Financial Product transactions, by number and dollar, that were closed during the Applicant’s most recently completed fiscal year. Transactions provided to Native Communities must be identified in the TLR in order to count towards the 50% requirement for Native Designation.

(Simulated Table – actual display in AMIS may differ)

Native CDFI Designation Table 1: Native Financing Test
Percent of Native Community Financial Products – Number	Native Community threshold met?	Percent of Native Community Financial Products – Dollar Volume	Native Community threshold met?
[Auto calculated]	[Auto display – Yes or No]	[Auto calculated]	[Auto display – Yes or No]

Section	Question or purpose of data field		Response
NA-NC01	Is the Applicant a DIHC that is relying on its Affiliates to meet the CDFI Certification Financing Entity or Target Market requirements?		Yes or No.
	NA-NC01.1	If yes, identify all Affiliate(s) that are required to be presented for review in connection with the CDFI Certification collective review.	Identify the relevant Affiliate(s).
NA-NC02	Native Communities assessment methodology attestation – Financial Products: Applicant attests that Financial Product transactions counted have and will continue to be directed to Native Communities using the assessment methodology(ies) that was pre-approved by the CDFI Fund.		Yes or No.
NA-NC03	Identify the assessment methodology(ies) used by the Applicant.		Select all that apply. OTP-Native American.1: Tribal Doc OTP-Native Alaskan.1: Tribal Doc OTP-Native Hawaiian.1: Registry Card Separately approved assessment methodology
	If “Separately approved assessment methodology:”
	NA-NC03.1	Identify the assessment methodology(ies) approved by the CDFI Fund.	Provide narrative.
	NA-NC03.2	Attach a letter(s) from the CDFI Fund approving the assessment methodology(ies).	Attachment(s).

NATIVE CDFI DESIGNATION – NATIVE COMMUNITY ACCOUNTABILITY

Section	Question or purpose of data field			Response
NA-CA01	What type of board is being used to maintain the Applicant’s Native Community accountability?			Select one: Governing board Governing and Advisory Boards Credit union membership and Advisory Board (credit union only) Advisory Board only (DIHCs, IDIs, and those with no formal governing board only)
NA-CA02	If the Applicant will use its governing board to maintain its Native Community accountability, identify that board.			Enter Board Name.
NA-CA03	If the Applicant will use credit union membership and an Advisory Board to maintain Native Community accountability:
	NA-CA03.1	Total number of credit union members active with the Applicant as of the last day of the last month of the immediate 12 full months completed prior to submission of the Application.		Enter number.
	NA-CA03.2	Identify the Native Community that will be used to demonstrate Native Community accountability through credit union membership.		Select one: Native Community Geography Investment Area – Pre-qualified Other Targeted Population – Native American Other Targeted Population – Native Alaskan residing in Alaska Other Targeted Population – Native Hawaiian residing in Hawaii
	NA-CA03.3	What is the total number of credit union members who are members of this Native Community?		Enter the total number of credit union members who are members of the Native Community.
	NA-CA03.4	Calculate percentage of credit union members who are members of this Native Community.		[May auto-calculate] Enter percentage of credit union members who are members of the Native Community.
	NA-CA03.5	Applicant attests that only a CDFI Fund-approved Target Market assessment methodology(ies) has been and will continue to be used to determine whether credit union members are of a Native Community.		Yes or No.
NA-CA04	If the Applicant will use an Advisory Board to maintain its Native Community accountability, identify that Advisory Board.			Enter board name.
	NA-CA04.1	Does the Applicant have an organizational accountability policy that has been board approved?		Yes or No. If No, the Applicant is unable to use an Advisory Board.
		If Yes:
		NA-CA04.1a	Does the policy describe the role of the Advisory Board?	Yes or No.
		NA-CA04.1b	Does the policy detail how the Advisory Board informs itself about the Native Community?	Yes or No.
		NA-CA04.1c	Does the policy describe the Advisory Board method for providing advice to the governing board?	Yes or No.
		NA-CA04.1d	Attach the board approved organizational accountability policy.	Attach.
	NA-CA04.2	Does the board meet at least three (3) times a year? The CDFI Fund requires that the Advisory Board meet at least three (3) times a year.		Yes or No. If No, the Applicant is not eligible for Certification.
	NA-CA04.3	Basis upon which members of the Advisory Board selected?		Select one or more: For ability to solicit feedback from the Native Community For knowledge of the needs and condition of the Native Community For knowledge of Financial Products and/or Financial Services For knowledge of strategic planning and/or policies and procedures for financial institutions Other
	NA-CA04.3	NA-CA04.3a	If “Other,” describe the other basis upon which Advisory Board members are selected.	Narrative.
	NA-CA04.4	How do Advisory Board members obtain their input from the Native Community?		Selection one or more: Direct involvement with the Native Community. Focus groups. Participation in community meetings. Survey. Review of research reports. Other.
	NA-CA04.4	NA-CA04.4a	If “Other,” describe the other way in which the Advisory Board member obtain input from the Native Community.	Narrative.
	NA-CA04.5	On what activities/policies does the Advisory Board provide input to the governing leadership?		Select one or more: Loan Product/Financial Services development Organizational Policy development Strategic planning Marketing strategies Development Services Other
	NA-CA04.5	NA-CA04.5a	If “Other,” describe the other activities/policies on which the Advisory Board provides input to the governing leadership.	Narrative.
Applicants will enter all relevant board member data in questions NA-CA05 – NA-CA11 for each board and for each representative board member accountable to a Native Community.
NA-CA05	Total number of board members.			Enter number.
NA-CA06	Representative Board member name.			Enter name.
NA-CA07	If the Applicant is using an advisory board to meet the Native Community accountability test, does this member of the advisory board also serve on the Applicant’s governing board or is the member also a partner/owner?			Yes or No.
NA-CA08	Is this board member or any member of their family an employee of the Applicant or any of its Affiliates?			Yes or No. If Yes, no further information on this board member is required, as this board member is ineligible to be presented as accountable.
NA-CA09	Does the board member or any member of their family, individually or in combination, own or control 25% or more of the Applicant or any of its Affiliates?			Yes or No. If Yes, no further information on this board member is required, as this board member is ineligible to be presented as accountable.
NA-CA10	Does the board member have an active Financial Product from the Applicant?			Yes or No. If Yes, no further information on this board member is required, as this board member is ineligible to be presented as accountable.
NA-CA11	Identify the Native Community type to which the board member is accountable.			Select at least one. Native Community Geography Native Community Population
Means of Accountability – Native Community Geography
Questions NA-CA12 – NA-CA16 will be asked only for board members identified as accountable to a Native Community Geography
NA-CA12	Identify the means of accountability the board member uses to demonstrate that they are currently connected to a Native Community geography?			Select all that apply: Resides in a Native Community geography Small business owner where the business is located in a qualified census tract of a Native Community geography Elected Tribal Government official serving the Native Community Executive staff member of a mission-driven organization that primarily provides services to residents of a Native Community geography
NA-CA13	If the board member is a resident of a qualified census tract of a Native Community geography, provide the FIPS code for the census tract within which they reside.			Enter FIPs code.
NA-CA14	If the board member is the owner of a small business that is located in a Native Community geography:
	NA-CA14.1	What percentage of ownership does the board member have in the business?		Enter Percentage.
	NA-CA14.2	What is the name of the business owned by the board member?		Enter Name.
	NA-CA14.3	Is the business located in a Native Community geography?		Yes or No
	NA-CA14.4	What is the business address and FIPs code of the business location?		Enter FIPs code.
	Does the business have multiple locations (e.g., a franchise)?			Yes or No.
		If Yes:
		NA-CA14.4a	Are at least 51% of the businesses located in a qualified Native Community census tract?	Yes or No.
		NA-CA14.4b	What are the FIPs codes of the business locations?	Enter the business FIPs code. Enter the FIPs code for each business location.
		If No:
		NA-CA14.4c	Is the business located in a Native Community qualified census tract?	Yes or No.
		NA-CA14.4d	What is the FIPs code of the business location?	Enter the business FIPs code.
NA-CA15	If the board member is an elected Tribal Government official serving the Native Community geography:
	NA-CA15.1	Provide the total number of tracts under the elected official’s jurisdiction.		Enter number.
	NA-CA15.2	Provide the total number of Native Community census tracts under the elected official’s jurisdiction.		Enter number.
	NA-CA15.3	Percentage of qualified Native Community census tracts under the elected official’s jurisdiction. Percentage of qualified census tracts must be greater than 50% for the board member to be considered accountable.		[May auto-calculate].
NA-CA16	If the board member is accountable to a Native Community geography as an executive staff member of a third party, mission-driven organization that primarily provides services to residents of the Native Community geography:
	NA-CA16.1	Provide the name of the third party organization.		Enter Name.
	NA-CA16.2	Provide the mission statement of the organization.		Enter mission statement.
	NA-CA16.3	Identify, in terms of county(ies) or state(s), the Native Community geography of the market served by the organization.		Enter market.
	NA-CA16.4	Provide the employee’s job title.		Enter job title
	NA-CA16.5	Describe how the board member’s employment allows them to be connected to the Native Community geography that consists of Native census tracts.		Provide description.
	Means of Accountability – Native Community Population
Questions NA-CA17 – NA-CA18 will be asked only for board members identified as accountable to a Native Community Population
NA-CA17	Is the board member a member of a Native Community Population?			Yes or No.
NA-CA18	If the board member is a member of a Native Community Population, identify the assessment methodology used to confirm. (See guidance for acceptable means of assessment by OTP.) Identify each method used if the board member is listed as accountable to more than one Other Targeted Population.			Select all that apply: OTP-Native American.1: Tribal Document OTP-Native Alaskan.1: Tribal Document OTP-Native Hawaiian.1: Registry Card
Repeat board member data entry for each board member.
Repeat board and board member data entry for each board if multiple boards are being used to demonstrate accountability.

1 In some cases, the entity as well as its affiliates may be subject to some or all of the listed criteria.

2 Entities that are Controlled by a Certified CDFI and seek to participate in the CDFI Fund’s Bond Guarantee Program (BG Program) can meet the Certification requirements using Financial Product activity that is not arm’s-length, as long as the activity is by and between such entities and their Controlling CDFIs. Such activity must be pursuant to operating agreements that include management and ownership provisions and are in a form and substance acceptable to the CDFI Fund (see 12 C.F.R. 1805.201(b)(2)(C)(iii)).

3 Unless otherwise noted, balance sheet also refers to statement of financial position or statement of financial condition, which shows an organization’s assets, liabilities, and owner's equity (or stockholders' equity); based on entity type.

4 The CDFI Fund recognizes the following types of Financial Products – loans; Equity Investments; loan guarantees; debt with equity features; the purchase of loans originated by Certified CDFIs; the purchase of certain loans from organizations that are not certified as CDFIs; and any similar financing activity pre-approved by the CDFI Fund.

5 A CDFI that is operated or Controlled by a Tribal Government is eligible to apply for certification. Indian tribes are not agencies or instrumentalities of the U.S. or any state.

6 The CDFI Fund defines Principal as an individual that retains ownership, Control or power to vote 25% or more of the outstanding shares of voting securities of the Applicant.

7 Executive Staff means all directors and executive officers (e.g. President, Vice-President, Chief Financial Officer) of a company vested with the powers to manage and supervise the day-to-day affairs of an organization.

8 As defined in section 523 of Division N of the Consolidated Appropriations Act, 2021, Public Law 116-260, the term “minority” means “any Black American, Hispanic American, Asian American, Native American, Native Alaskan, Native Hawaiian, or Pacific Islander.” For purposes of this Application, the CDFI Fund relies on definitions established by the 1997 Office of Management and Budget (OMB) standards on race and ethnicity.

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

10 For additional guidance on calculating the MAPR, see the Consumer Financial Protection Bureau’s (CFPB) Military Lending Act (MLA), Interagency Examination Procedures—2015 Amendments, Terms of Consumer Credit Extended to Covered Borrowers (Calculation of MAPR) – 32 CFR 232.4, pp. 6-9.

11 For additional guidance on calculating the MAPR, see the Consumer Financial Protection Bureau’s Military Lending Act (MLA), Interagency Examination Procedures—2015 Amendments, Terms of Consumer Credit Extended to Covered Borrowers (Calculation of MAPR) – 32 CFR 232.4, pp. 6-9.

12 Calculate on a per borrower basis for single payment loans.

13 The CDFI Fund will rely on the Consumer Financial Protection Bureau’s definition of a leveraged payment mechanism: “a loan has a leveraged payment mechanism if the lender or a service provider has the right to initiate a transfer of money, through any means, from a consumer’s account to satisfy an obligation on a loan….” See CFPB final rule and interpretations, Payday, Vehicle Title, and Certain High-Cost Installment Loans, 12 CFR § 1041.3(c).

14 Calculate on a per borrower basis for single payment loans.

15 The CDFI Fund will rely on the Consumer Financial Protection Bureau’s definition of a leveraged payment mechanism: “a loan has a leveraged payment mechanism if the lender or a service provider has the right to initiate a transfer of money, through any means, from a consumer’s account to satisfy an obligation on a loan….” See CFPB final rule and interpretations, Payday, Vehicle Title, and Certain High-Cost Installment Loans, 12 CFR § 1041.3(c).

16 The Qualified Mortgage rule places the following limits on upfront points and fees:

For a loan of $100,000 or more: 3% of the total loan amount or less.
For a loan of $60,000 to $100,000: $3,000 or less.
For a loan of $20,000 to $60,000: 5% of the total loan amount or less.
For a loan of $12,500 to $20,000: $1,000 or less.
For a loan of $12,500 or less: 8% of the total loan amount or less.

17 For monthly maintenance fee to be considered waivable, Applicant must offer at least two options to waive the fee entirely with a single transaction (e.g. direct deposit with no minimum deposit, online bill pay, or debit card purchase).

18 An overdraft fee is a fee or charge on a consumer's account held by the institution for paying a transaction (including a check or other item) when the consumer has insufficient or unavailable funds in the account.

A nonsufficient funds fee is a fee or charge on a consumer's account held by the institution for a transaction (including a check or other item) returned unpaid when the consumer has insufficient or unavailable funds in the account.

19 Only depository institutions (bank/thrifts, credit unions or bank/thrift holding companies) may use Financial Services to meet the Financing Entity test.

20 Financial Products and Financial Services are defined by the CDFI Fund in the CDFI Program Revised Interim Regulations, 12 CFR Part 1805.104

21 Certified CDFIs with less than three years of CDFI Certification or reported data in the TLR will be evaluated based upon the full history of their reported financing activity, up to three full fiscal years, but not earlier than one full fiscal year prior to the submission of their Application.

22 Executive Staff means all directors and executive officers (e.g. President, Vice-President, Chief Financial Officer) of a company vested with the powers to manage and supervise the day-to-day affairs of an organization.

23 The Federal Information Processing Standards (FIPS) code uniquely identifies states and counties and county equivalents and census tracts in the United States, certain U.S. possessions, and certain freely associated states.

24 Family members include those related by blood or adoption, as well as half-siblings.

25 To maintain the designation status, Native CDFIs must demonstrate compliance with the Native financing activity percentage benchmarks based on a three-year average through the last day of its most recently completed fiscal year. Certified CDFIs, with less than three years of Native CDFI designation or reported data in the TLR, will be evaluated based upon the full history of their reported financing activity, up to three full fiscal years, but not earlier than one full fiscal year prior to the designation.

File Type	application/vnd.openxmlformats-officedocument.wordprocessingml.document
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Form CDFI Form 0005 CDFI Form 0005 Certification Application

Community Development Financial Institutions Program - Certification Application

1559-0028 CDFI Certification Application 10.3.22

Community Development Financial Institutions Program - Certification Application (State, Local or Tribal Gov)

OMB: 1559-0028

Contents

CERTIFICATION APPLICATION OVERVIEW

KEY DEFINITIONS

ADDITIONAL AND ALTERNATIVE REQUIREMENTS AND PROVISIONS BY CDFI TYPE

APPLICATION PROCESS

APPLICANT BASIC INFORMATION

LEGAL ENTITY

PRIMARY MISSION

FINANCING ENTITY

TARGET MARKET

Development Services

ACCOUNTABILITY

Non-Governmental Entity

Native CDFI Designation