Community development credit unions may receive less money on a per credit union basis from the U.S. Treasury's
The National Federation of Community Development Credit Unions worries that new NCUA examiners may not be trained in the issues particular to the CUs many will be sent to examine.
The $16 million Bethex Federal Credit Union has won an award that will bring it an additional $25,000, the credit union said.
The National Federation of Community Development Credit Unions has defended a Treasury program from charges that politics played a role in how it distributed money to CDCUs.
Forty-eight community development credit unions that applied for funds from the U.S. Treasury Department's Community Development Capital Initiative received them by the time the program distribution closed last week.
Forty eight credit unions received almost $70 million from the U.S. Treasury's Community Development Capital Initiative program, according to the National Federation of Community Development Credit Unions.
The U.S. Treasury Department's Community Development Financial Institutions Fund has announced it will make almost $13 million available to qualified community development credit unions.
Cliff Rosenthal, National Federation of Community Development Credit Unions president/CEO, highlighted the liquidation of Kappa Alpha Psi FCU in a request for credit unions to take a stand against overaggressive examiners.
The recession has hurt community development credit unions but has not knocked them out, according to a report from the National Federation of Community Development Credit Unions
Although the funding process is nowhere near complete, it appears that fewer than 100 credit unions may wind up receiving any money from the U.S. Treasury's Troubled Asset Relief Program.