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

Washington
CLF, CDRLF, CDFI Fund spending stable in Obama 2015 budget
WASHINGTON (3/5/14)--President Obama Tuesday unveiled his budget blueprint for FY 2015, which included proposed funding levels for certain credit union programs--along with about $3.9 trillion in other spending priorities.
 
The maximum loan limitation of the National Credit Union Administration's Central Liquidity Facility (CLF) would continue at its current fiscal 2014 level under the Obama administration's proposed budget for fiscal 2015. The CLF is authorized by the Federal Credit Union Act to lend up to 12 times its paid-in capital: The borrowing authority of the CLF currently stands at $2.9 billion.
 
The NCUA Community Development Revolving Loan Fund's (CDRLF) appropriation drops slightly to $1,071,267 in the proposed 2015 budget, down from $1,200,000 in last year's spending plan. The CDRLF provides loans and technical assistance to federal- and state-chartered credit unions that are designated as low-income credit unions as defined by NCUA regulations.
 
Also in Obama's spending plan, the proposed funding for the U.S. Treasury Department's Community Development Financial Institutions Fund, at $224,900,000, is down slightly from $226,000,000 last year.
 
Next week, the Office of Management and Budget will release its tax expenditure list along with details of these and other programs.


RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
13 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago