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CDFI Fund Mission

Community Development Financial Institutions (CDFI) Fund FY 2010 Financial Education and Counseling Pilot Program for Hawaii Applicants. CDFI Fund Mission.

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CDFI Fund Mission

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  1. Community Development Financial Institutions (CDFI) FundFY 2010 Financial Education and Counseling Pilot Program for Hawaii Applicants

  2. CDFI Fund Mission The mission of the CDFI Fund is to expand the capacity of financial institutions to provide credit, capital, and financial services to underserved populations and communities in the United States.

  3. CDFI Fund Programs and Initiatives The Fund achieves its mission by directly investing in and supporting financial institutions through the following programs and initiatives: • CDFI Program: Financial Assistance and Technical Assistance • Bank Enterprise Award Program • New Markets Tax Credit Program • Native Initiatives • Capital Magnet Fund • Financial Education and Counseling Pilot Program

  4. FY 2010 FEC Pilot Program Funding Round • The FY 2010 FEC Pilot Program will: • Identify successful methods resulting in Positive Behavioral Change* for financial empowerment; and, • Establish program models for carrying out effective Financial Education and Counseling Services to Prospective Homebuyers*. • One award will be made for $3.15 million to an organization headquartered in the State of Hawaii. • Three to five organizations that applied in FY 2009 and not located in the State of Hawaii will be selected for a total of $1 million in awards. * Key program definitions can be found in the Application and the Notice of Funding Availability (NOFA):

  5. FEC Pilot Program: Overview • Successful organizations will provide FEC Services that: • Increase Prospective Homebuyers financial knowledge and decision-making capabilities; • Assist Prospective Homebuyers to set and reach financial goals; • Understand relationship between credit histories and credit scores; and, • Educate Prospective Homebuyers about options available to build savings.

  6. FEC Pilot Program: Timeline • NOFA and Application Released: May 28, 2010 • Application Deadline: July 8, 2010 • Application Review Period: Late Summer 2010 • Award Announcement: Fall 2010

  7. FEC Pilot Program: Application • The FY 2010 FEC Pilot Program Application for Hawaii Applicants will be scored based on: • Program design and implementation plan • Ability to measure and track progress of Prospective Homebuyers • Management and organizational track record and experience delivering FEC services in Hawaii • Targeted and appropriate use of funds

  8. FEC Pilot Program: Application • Section I: Implementation Plan • Who is your target audience for the FEC services? • What types of services will be offered? • What is your marketing, outreach and delivery strategy? • Do you have the ability to serve the entire State of Hawaii?

  9. FEC Pilot Program: Application • Section II: Proposed Impact and Effective Use • How will you identify, track and monitor the impact of your program? • How will you document Positive Behavioral Change in program participants? • Can the proposed FEC activities serve as a replicable model?

  10. FEC Pilot Program: Application • Section III: Organizational Capacity • Does your management team have the skills and expertise to successfully manage the proposed FEC activity? • Does your organization have a track record of providing FEC services in the State of Hawaii? • What is your experience with grants and Federal funding? • Are there any financial concerns or issues that may affect your organization’s ability to carry out the proposed FEC activity or satisfy the award requirements?

  11. FEC Pilot Program: Application • Section IV: Budget and Program Funding • How will you expend the $3.15 million grant over three years? • Does your organization have adequate funding (including the $3.15 million) in place to successfully implement the proposed FEC activities? • Does your organization plan to leverage other sources of funding?

  12. Resources and Contact Information Application Questions: Jodie Harris 202.622.4499, harrisj@cdfi.treas.gov Chasity Savage, 202.622.9546, savagec@cdfi.treas.gov General Program Support: cdfihelp@cdfi.treas.gov or 202.622.6355 IT Support: ithelpdesk@cdfi.treas.gov or 202.622.2455

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