ALEXANDRIA, Va.-With the larger than normal congressional appropriation NCUA received for its Community Development Revolving Loan Fund this fiscal year, there are still funds to go around. In the fiscal year 2004 (ending Sept. 30) appropriations, NCUA received $1.2 million for the CDRLF with $1 million of that earmarked for technical assistance grants and the other $200,000 going toward low-rate loans for low-income credit unions. Loan funds remained fairly stagnant in FY 2003 due to the low interest rate environment but NCUA had to turn away nearly $1 million in grants due to a lack of funding. To disburse the additional funds in time, NCUA is initiating different programs for receiving money. The CDRLF's activities from March are listed below.
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