NCUF asking for information about faith-based CUs

ARLINGTON, Va. – The National Credit Union Foundation has requested credit union leagues to gather information about the work of faith-based credit unions in their communities. The NCUF wants to include the information in an application to the Department of Health and Human Services (DHHS) that could amount to an additional $3 million to help the faith-based institutions. Under the Bush Administration’s initiative to help faith-based institutions, DHHS has $24.5 million in something called the Capital Fund Demonstration Fund, according to the NCUF. The money is intended for use by national organizations that in turn help local faith-based efforts. The Foundation says that if it gets the $3 million it will ask faith-based credit unions to submit proposals for how the money could be spent. The NCUA says that there are roughly 500 faith-based credit unions in the U.S., holding over $2 billion in assets. NCUA Board Chairman Dennis Dollar is on record as strongly supporting faith-based credit union outreach.