MDI Awareness Month: Catalysts for Change

June is Minority Depository Institution (MDI) Awareness Month, dedicated to recognizing the importance of these institutions and planning for the day when all communities have fair, safe, and affordable financial services to build more secure futures. During this month, the National Credit Union Administration (NCUA) will offer webinars and other information resources that explain MDIs’ effort to support underserved communities.? The agency also plans to release its annual MDI report to Congress.?

What’s the Buzz about MDI Awareness Month??

Becoming aware of how MDIs are helping underserved people and communities open the door to thinking about challenges and opportunities and about charting a course of action. When we recognize the benefits of greater diversity in the financial system and expanding access to people who don’t have it, we can create fundamental social and economic change.?

Why do MDIs matter??

MDIs are working every day to bring a more just and equitable future closer to reality. We all benefit from this work. When more people have the resources to participate in the economy, it grows like a tree, spreading its roots as well as its branches.?

MDI credit unions offer services that include savings and checking accounts, loans, and financial education. They work with community service organizations to identify and reach underserved populations. The people within these organizations have ideas and talents and need only resources to turn them into accomplishments.?

MDIs: A History of Service?

MDIs are part of the core of the credit union mission, and the NCUA makes supporting them a priority.? They offer opportunities to people and communities that have been historically marginalized and denied access to necessary financial services.?

In 2015, the NCUA inaugurated its MDI Preservation Program, which is now managed by the Office of Credit Union Resources and Expansion. Over the past nine years, the NCUA has provided technical assistance, educational resources, collaborative events, and—for eligible credit unions—Community Development Revolving Loan Fund grants and loans.?

Want to learn more? Webinars That Ignite Insights:??

• Learn more about what MDIs are, qualification requirements, how to designate, and their impact on communities.??
• Hear directly from representatives from MDI Credit Unions and Industry experts on their experiences serving their communities.??

Save the dates:??

• June 5: What is an MDI??
• June 18: How MDIs Serve Their Communities???

MDI Success Story Spotlight:?

• Hear real world examples of MDIs making a difference in their communities.?
• Discover how your support contributes to community development.?

Newsletters with resources available to MDI Credit Unions?

• Discover tools and resources available to MDIs??
• Learn more about determining eligibility, grant information, and learning resources?

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