Talks already under way with Ninth Ward merchants, CU says.
Foourteen credit unions and supporting organizations awarded $1.5 million each from Treasury program.
The National Federation of Community Developing Credit Unions is helping CDCUs organize themselves to take advantage of any opportunity to obtain more government support.
A Members Group white paper, Missouri reaccreditation and the CDFI Fund all made news this week.
Changing economic circumstances among its members have led yet another mainstream credit union to the realization that it has effectively become a community development credit union.
The gap between politicians that support funding the U.S. Treasury's Community Development Financial Institutions Fund and those who don't may have become the widest ever last week
The Obama administration's proposed 2012 budget would cut the Treasury Department's CDFI Fund by just over 9%, according to data supplied by the CDFI Coalition.
The House Appropriations Committee has proposed cutting $197 million from the budget of the Community Development Financial Institutions Fund for this fiscal year.
Grant applications from credit unions that are recognized as community development financial institutions to the U.S. Treasury's CDFI Fund may face stiff competition, the fund's data suggested.
"We are helping credit unions to survive during tough times," said Amy Rapp, a senior manager at Western Bridge Corporate Federal Credit Union.