Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU in St. Louis in 1M FHLB affordable housing grant
ST. LOUIS (3/21/11)--St. Louis Community CU and Better Family Life Inc. received two grants totaling $1 million from the Federal Home Loan Bank of Des Moines' Affordable Housing Program to assist residents in buying their first home or repairing a home. Of the $1 million, half will be allocated to help first-time home buyers with a down payment and closing costs (St. Louis Business Journal March 17). It also will help provide home ownership education for St. Louis city and county residents. Qualified buyers will be determined by income guidelines set by the Department of Housing and Urban Development. They will receive up to $3,300. The other half of the grant will go toward repairing qualified homes in the 26th Ward. Up to $10,000 is available for each project. Both programs are forgiveable in five years. Each year the Federal Home Loan Bank of Des Moines commits 10% of its annual net income to developing affordable housing.


RSS print
News Now LiveWire
Fixed-asst rule relief would not apply to federally insured, state-chartered credit unions.
8 minutes ago
.@TheNCUA Ch Matz says intent is to allow CUs to manage fixed assets without NCUA "micromanaging" the purchases of fixed assets.
10 minutes ago
Under this fxd-asst proposal, @NCUA says to exceed 5% cap a CU would need a plan or program.
13 minutes ago
The new proposal was drafted, in part, due to comments received in 2013 on a technical corrections rule approved by NCUA on fxd-assts.
14 minutes ago
Today's @TheNCUA meeting starts now with fixed-asset proposal; wld eliminate 5% cap.
18 minutes ago