Leaders from community development credit unions affiliated with the National Federation of CDCUs are pushing the NCUA and the U.S. Treasury to respond with increased understanding and resources to the needs of the financial institutions.
In meetings with NCUA and the U.S. Treasury Department's Community Development Financial Institutions Fund, the leaders pressed the NCUA on making the practice of its examinations of CDCU more accurately reflect the agency's stated agenda for the community development credit unions and Treasury on the percentage of CDFI Funds that go to CDCUs.
"The credit union movement, and CDCUs in particular, are under intense stress," said Randy Chambers, chief financial officer for Self Help Credit Union and Federation chairman. "It is imperative that CDCUs have increased access to resources and a supportive regulatory environment to survive and grow."
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