The Treasury Department Friday issued a long-awaited revision to its community development financial institution certification process, a move that CDFI advocates say provides much-needed updates to ...

?Credit unions, especially smaller credit unions, can find substantial benefits from becoming certified as community development financial institutions, and the application process is becoming easier.

The $1 billion-asset credit union was approved as a CDFI after starting the application process in October. Institutions seeking the designation must first meet criteria such as providing development ...