WASHINGTON — The National Credit Union Foundation has been chosen by the U.S. Department of Housing and Urban Development to administer a grant of more than $700,000 to support home ownership counseling.
NCUF will use the roughly $710 million to underwrite costs of counseling programs provided by 22 not-for-profit credit unions. Together, these credit unions will leverage their NCUF grants into nearly $6 million to support low-income counseling and affordable homeownership, NCUF said.
Through September 2008, these 22 credit unions plan to reach nearly 10,000 potential first-time homebuyers, including 6,525 who earn less than 80% of their area median income.
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