Big News: North Edge Achieves CDFI Certification!

North Edge has been officially certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. 

You may ask, weren’t you already a CDFI? Yes – since 2003. During COVID, the number of CDFIs increased dramatically. With such a large number, CDFI decided to stop re-certifications and have everyone re-apply as if it were the first time. North Edge applied during the early application process and was approved for certification in March.

CDFI certification is more than just a title; it recognizes organizations that are committed to making a substantial positive impact on the economies of local communities. This certification will allow us to access a range of benefits, including CDFI Fund capacity-building initiatives, potential funding opportunities, and increased credibility with partners and stakeholders. Being certified as a CDFI underscores our primary mission of promoting community development through targeted services and initiatives. 

“We have been able to do some amazing community development projects because of our CDFI status,” said Ross Welch, Executive Director. “Projects like the Carson Block Building renovation, the Eureka Open Door Clinic and Hoopa Grocery Store all included some funds from a CDFI grant. Not only have we received funding to get out the community, we have built relationships with larger CDFI’s and they have helped bring millions of dollars to support important projects in Humboldt.” 

Federally, you may have read that CDFIs are on the hit list for DOGE. We’re not sure how CDFI funding will be affected, but it is somewhat assuring that it does have support on both sides of the aisle. Fortunately, North Edge does not rely on CDFI as a primary funding source. We will track to see when money is available. We do have access to funds that were made available prior to this administration for the Clean Communities Investment Accelerator (for now).   

Besides the federal CDFI grants, this certification also allows us membership in the California Coalition for Community Investment, an organization that advocates for and supports California CDFIs, meaning that the federal certification will allow us to access any funds available through state programs, as well.