CU Strategic Planning’s Post

Many intricate details are involved in running a CDFI credit union. One of the more common ones credit unions can run into - and is often misunderstood - is the definition of a 'material event' and what you must do when one occurs to ensure compliance with the Community Development Financial Institutions Fund (CDFI Fund). Read about it from our expert, Christine Duncan! https://loom.ly/xBocgws #creditunions #CDFIs #materialevent

Experience the convenience of Direct Deposit with NAE FCU! 💼 Get your paycheck deposited directly into your account—no need to wait in line or worry about checks. It's the fastest, safest, and most reliable way to access your money. 💸 Set up Direct Deposit today and enjoy instant access to your funds! https://bit.ly/3yrUnRM #Chesapeake #ChesapeakeVA #VirginiaBusiness

Gifted deposits can be a tricky one, especially if there are several gifts involved in the same transaction... At our #AML Q&A webinar we were asked about source of funds checks for transactions where family members have lent or gifted money.  You can find out more in the full session, but as Declan Brown says the key things are: ✅ A risk based approached ✅ documenting your rationale www.sra.org.uk/aml-qa-2024

🏛️ Big news from the CDFI Fund for 2025! The CDFI Fund recently announced key changes to its certification and grant programs for 2025, laying the groundwork for a more streamlined, impactful approach to advancing economic equity. Our latest blog breaks down everything credit unions need to know, including: ✔️ Updates to the CDFI certification process ✔️ Grant opportunities for 2025 and beyond ✔️ How credit unions can prepare to align with these changes Whether you're working toward certification or planning your next round of funding applications, now is the time to act. 🔗 Read the full blog here: https://lnkd.in/gFqzYjc4 What are your thoughts on the CDFI Fund's new direction? #CDFI #CreditUnions #CommunityDevelopment

Today marks the 30th anniversary of the #CDFI Fund, established through the bipartisan Riegle Community Development Act in 1994. This Fund has been instrumental in providing over $7 billion to Community Development Financial Institutions (CDFIs), supporting small businesses, affordable housing, and community development projects nationwide. With more than 1,400 certified CDFIs, these mission-driven institutions have invested over $216 billion since 2015, creating or retaining 5.3 million American jobs. Strategically placed in underserved areas, CDFIs focus on fostering economic development and job creation in communities often overlooked by traditional financial institutions. Key facts about CDFIs: ✅ Mission-driven to support underserved communities and foster economic development. ✅ Certified by the U.S. Department of the Treasury, enabling access to resources for their mission. ✅ Diverse institutions including banks, credit unions, and venture capital funds, each catering to different financial needs. ✅ Catalyst for change, leveraging over $100 billion in private sector investments since 1994. ✅ Support small businesses, especially minority- and women-owned enterprises, through microloans. ✅ Impact-focused on social and environmental outcomes like affordable housing and job creation in underfunded communities. These facts highlight the significant role CDFIs play in promoting economic inclusion and driving positive change in communities nationwide. #EconomicInclusion #CommunityDevelopment #CDFIs Asset Strategy

Gifted deposits can be a tricky one, especially if there are several gifts involved in the same transaction... At our #AML Q&A webinar we were asked about source of funds checks for transactions where family members have lent or gifted money.  You can find out more in the full session, but as Declan Brown says the key things are: ✅ A risk based approached ✅ documenting your rationale www.sra.org.uk/aml-qa-2024

Gifted deposits can be a tricky one, especially if there are several gifts involved in the same transaction... At our #AML Q&A webinar we were asked about source of funds checks for transactions where family members have lent or gifted money.  You can find out more in the full session, but as Declan Brown says the key things are: ✅ A risk based approached ✅ documenting your rationale www.sra.org.uk/aml-qa-2024

Are you curious about what's happening with CDFI certification, recertification and grants? Well, you're about to find out from our experts: https://loom.ly/51KyZTk #creditunions #CDFIs #CDFI #CDFIcreditunions #financialinclusion #peoplehelpingpeople

Gifted deposits can be a tricky one, especially if there are several gifts involved in the same transaction... At our #AML Q&A webinar we were asked about source of funds checks for transactions where family members have lent or gifted money.  You can find out more in the full session, but as Declan Brown says the key things are: ✅ A risk based approached ✅ documenting your rationale www.sra.org.uk/aml-qa-2024

But it's not just about the money, control of SMSFs is just as important. With the right financial guidance and a properly documented succession plan, we can help make sure you have your best foot forward. An SMSF succession plan details how to manage your SMSF if you or another trustee dies or loses mental capacity, ensuring a smooth transition separate from your will. Such circumstances would be very unfortunate but they can occur. Since a will's instructions aren't binding on SMSF trustees, it’s essential to have a valid (preferably non-lapsing) binding death benefit nomination. This ensures the new trustees are obligated to pay your death benefit to your nominated beneficiary. It's a lot to think about, and we are here to help with exactly that. Be in touch with our team today, via the link in our bio or make a start by reading a bit more on the matter at https://lnkd.in/gwh_ZdSK #smsf #superannuation #wealthbuilding #financialadvice #alterisfinancialgroup