Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Federation briefs press about CDCI funds
NEW YORK CITY (10/4/10)--The National Federation of Community Development Credit Unions Friday held a press briefing regarding the Treasury Department’s Community Development Capital Initiative, through which 48 community development credit unions received funds. During the conference, federation President/CEO Cliff Rosenthal noted that the infusion--roughly $70 million for credit unions--was the largest he’s seen in 30 years. Total funding through the program is $570 million. The infusion is “not bailout money,” Rosenthal emphasized. The funds will help credit unions to better serve their members and communities by allowing them to expand their services. Some credit unions have turned people away because of their capital shortcomings, he added. Responding to the application process for funds, credit unions must undergo a rigorous review process to ensure they are well-suited candidates, Rosenthal said. “It’s not a walk in the park,” he added. The funds were distributed to recipient credit unions at the end of September.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
12 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
13 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
15 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
16 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
17 hours ago