More of the costs left over from failed corporate credit unions will hit most existing credit unions in late September. The NCUA Board approved assessing federally insured credit unions an additional 25 basis points of insured shares to help foot the bill for the Temporary Corporate Credit Union Stabilization Fund.
Kiva.org, the online organization that allows individuals to invest in development micro-loans around the world, has chosen a community development credit union as its field partner for its micro-lending effort in New Orleans.
Micro-loans backed by Kiva would still count against 723 Cap.
Success with New Orleans credit union encourages micro-lending organization to partner with more.
ASI Federal Credit Union, a community development credit union that serves the greater New Orleans area, has begun administering loans on behalf of Kiva.org.
Fourteen credit unions and organizations that work with credit unions received $1.5 million each from the latest round of awards from the U.S. Treasury's Community Development Financial Institutions Fund. Their totals were part of more $28 million that went to 27 credit unions and supporting organizations.
For its service to the underserved, ASI Federal Credit Union was recently honored with the Small Business Administration’s Financial Services Champion of the Year award.
Challenges can be turned into opportunities. Look how some credit unions are taking advantage of the banking crisis to get their brands in front of consumers.
ASI Federal Credit Union became a low-income credit union before the low-income credit union designation, or even the NCUA, existed.