The Obama administration will make money from the Troubled Asset Relief Program available to credit unions, banks and thrifts that have been recognized as community development financial institutions by the Treasury Department's CDFI fund.
Community development credit unions plan to pay close attention to the Obama administration's stated intention to freeze much of the federal budget.
unions hope NCUA's recent guidance to examiners about low-income services and CDCU operations and issues will help them get some of the respect from the agency that many have long felt they are due.
The U.S. Treasury Department's Community Development Financial Institutions Fund has recognized five more credit unions and one CUSO as CDFIs.
The National Federation of Community Development Credit Unions is celebrating the inauguration of a new CDCU in Long Island City, a section of New York City.