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<p>INDIANAPOLIS, Ind. – The Community Development Financial Institutions Fund, a branch of the U.S. Treasury, has awarded the NFCDCU $2 million, according to Cliff Rosenthal, the Federation’s executive director. CDFI has provided the Federation a total of $5 million in two separate grants previously, Rosenthal said. The Federation used the previous grants to substantially fund its secondary capital program and CDCU Institute. The secondary capital program helps community development credit unions meet their capital requirements, and the CDCU Institute seeks to train CDCU staff and volunteers in credit union management. The current grant will add to the secondary capital program and will also assist a startup program designed to help CDCUs meet the needs of their members who have fallen victims to various predatory lending schemes. The Predatory Relief and Intervention Deposits will place funds with CDCUs that will help them refinance loans that their members might have fallen into under predatory terms. Rosenthal particularly praised Tony Brown, the director of the CDFI fund, for working to streamline and quicken the loan granting process. “Initially I was a skeptic because he didn’t have any Federal background,” Rosenthal said, “but he has really managed to make that program perform more efficiently.”</p>

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