Funds source for low-income projects

ALEXANDRIA, Va.-NCUA recently issued a Letter to Federal Credit Unions (02-CU-10) notifying credit unions of the availability of $30 million through the Department of Health and Human Services (HHS) specifically aimed at assisting faith-based organizations to provide services to individuals in need. The letter provides information regarding the Compassion Capital Fund (CCF) through HHS and is part of NCUA’s Access Across America effort. Fifteen to 25 organizations will be awarded up to $25 million in aggregate to provide technical assistance and sub-awards to smaller organizations. Credit unions could qualify for either circumstance, NCUA Chairman Dennis Dollar pointed out in the letter. With technical assistance, smaller organizations will receive help to operate and manage programs; access funding from various sources; develop and train staff; expand the types and reach of local social service programs; and replicate proven programs. Sub-awards will be focused on homelessness, hunger, at-risk children, transition from welfare to work, and those in need of intensive rehabilitation, the letter explained. Program criteria and goals are available at www.hhs.gov/faith/39561.txt. The application is located at www.acf.dhhs.gov/programs/ofs/forms.htm.