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
Fryzel encourages CDFI participation
ALEXANDRIA, Va. (5/15/09)--National Credit Union Administration Chairman Michael Fryzel encouraged credit unions to use Community Development Financial Institutions (CDFI) funds to enhance delivery of financial products and services. “Credit unions have received more than $14 million from the CDFI Fund over the past three years,” Fryzel said. “Credit unions are well-suited to benefit from the programs offered by the CDFI Fund.” The fund, created in 1994 under the Treasury, certifies and invests in financial institutions that provide financial products and services primarily to low-income communities or low-income people. Credit unions may apply for up to $100,000 in Technical Assistance grant funding to build internal capacity or to achieve CDFI certification. Certified CDFI credit unions may apply for up to $2 million in Financial Assistance for capitalization funds to support their overall business plan. Through the American Recovery and Reinvestment Act of 2009, the CDFI Fund received another $98 million to make awards. Funding is also anticipated for 2010 programs, expected to be announced this fall.


RSS





print
News Now LiveWire
Credit card issuers could see a reduced burden for 1 year under a @CFPB proposal issued this week. News Now: http://t.co/CYVXLUmVBq
12 hours ago
RT @CUEscan: Branches Will Be the Cornerstone of Growth http://t.co/fVqPPaGeVL http://t.co/xxMyKGQMrl
12 hours ago
RT @asmarterchoice: According to @Bankrate study, customers more likely to find FREE checking at #Creditunion than a bank! http://t.co/ntCb…
12 hours ago
Ditch monthly subscriptions to save $$, @YoungFreeMI Fielder tells @freep http://t.co/TFnsps4Dui #ASW2015
13 hours ago
.@federalreserve extends comment period for capital surcharges on systemically important U.S. bank holding cos. http://t.co/MOJJBn9DfA
14 hours ago