WASHINGTON – In letters last week to Senate Appropriations Committee Chairman Thad Cochran (R-Miss.), CUNA President and CEO Dan Mica encouraged the committee to increase funding for two NCUA programs and Treasury's Community Development Financial Institutions fund.

CUNA strongly supports an increase of funding for the NCUA's Community Development Revolving Loan Fund to at least $2 million; the agency has only asked for $941,000 for FY 2007 as part of a government wide effort to tighten the purse strings. The House approved its bill with that amount. Typically, NCUA received about $1 million in funding for the CDRLF.

"The CDRLF plays a vital role in underserved communities by providing loans and technical assistance grants to credit unions, enabling credit unions to enhance their technologies in order to provide increased products and services," Mica wrote. It is also essential to NCUA's Access Across America program, aiding underserved communities and creates economic empowerment for lower-income individuals, he pointed out. Mica also said that CUNA backed the $1.5 billion borrowing authority for the Central Liquidity Facility, which he termed "an efficient, highly effective system that is uniquely adapted to credit union needs, and plays an important role by serving as a backup liquidity source for credit unions." The House package sets the level at $1.5 billion.