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KEYNOTE ADDRESS BY COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) FUND DIRECTOR DONNA GAMBRELL AT THE NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNIONS' 35TH ANNUAL CONFERENCE ON SERVING THE UNDERSERVED (AS RELEASED BY THE DEPARTMENT OF TREASURY) LOCATION: TEMPE, ARIZONA DATE: THURSDAY, JUNE 11, 2009.

Publication: Washington Newsmaker Transcript Database
Publication Date: 11-JUN-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
KEYNOTE ADDRESS BY COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) FUND DIRECTOR DONNA GAMBRELL AT THE NATIONAL FEDERATION OF COMMUNITY DEVELOPMENT CREDIT UNIONS' 35TH ANNUAL CONFERENCE ON SERVING THE UNDERSERVED (AS RELEASED BY THE DEPARTMENT OF TREASURY) LOCATION: TEMPE, ARIZONA DATE: THURSDAY, JUNE 11, 2009

MS. GAMBRELL: Thank you Cliff for that warm introduction. Good evening everyone, it's an honor to be speaking before you at the Federation's 35th Annual Conference on Serving the Underserved.

Given the current economic conditions, the community development finance industry is experiencing a transition, the scope of which is still being determined. It is important for us to understand the role that each of us will play as the role of community development finance expands. Community Development Credit Unions (CDCUs) are a vital part of supporting economic opportunities and play an important role in our nation's recovery efforts within the most highly distressed communities across the nation.

Looking out across the audience, I can see that you are as equally committed to this prospect as I am. The CDFI Fund is proud to support you in your endeavors and through our funding programs we hope to build the capacity and ability of CDCUs to greater serve distressed communities. It is vitally important for low- and moderate-income people to have access to financial services and financial products.

With the arrival of a new Administration in Washington earlier this year, our ability to support your mission was significantly enhanced through the Recovery Act. In addition, the President's budget for fiscal year (FY) 2010 requests to more than double funding for the CDFI Fund.

Certification As the CDFI Fund grows, the importance of CDCUs becomes even greater. I remain committed to making sure the Certification process works for you so the programs and...

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