The U.S. Treasury CDFI Fund promotes economic and community development through financial and technical assistance programs for banks and certified CDFIs to expand the availability of credit, capital, and financial services in underserved and distressed communities. CDFIs are specialized financial institutions that provide financial products and services to underserved markets.
The BEA Program provides monetary awards to FDIC-insured depository institutions that demonstrate an increase in investment in certified CDFIs, or in their own lending, investing, or service-related activities in distressed communities.
Many BEA-qualifying activities may also receive positive consideration under the Community Reinvestment Act.
For fiscal year 2013, the CDFI Fund will make $17 million in awards available to FDIC-insured banks and thrifts. The CDFI Fund will issue awards using a prioritized ranking of loans and investments to CDFIs, loans and investments in BEA distressed communities, and the provision of financial services.
On June 20, 2013, the CDFI Fund will host a webinar with instructions on how to apply for a BEA.
The deadline for submitting an application is July 12, 2013. Refer to the Notice of Funding Availability and application materials on the CDFI Fund Web site at www.cdfifund.gov/bea or contact the CDFI Fund Help Desk at (202) 653-0421.
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
Chief CRA Officer
Jo Ann Wilkerson, Senior Community Affairs Specialist,
Division of Depositor and Consumer Protection, at jwilkerson@FDIC.gov or (703) 254-0482
Luke W. Reynolds, Chief, Outreach and Program Development,
Division of Depositor and Consumer Protection, at lureynolds@FDIC.gov or (703) 254-1045
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2013/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).