NEW YORK CITY — The National Federation of Community DevelopmentCredit Unions wants everyone to know that “not all financialinstitutions are feeling the squeeze” of the credit markets spurredby write-offs of mortgage-backed securities.

While some of the country's major financial institutions arepredicted to suffer up to $300 billion in total write-offs over thenext two years, there are many responsible lenders throughout thecountry, such as community development credit unions and othercommunity development financial institutions, that are notexperiencing the same backlash seen throughout the mainstreamsubprime markets.

“Many of these financial institutions are in fact uniquelypositioned to help consumers through this crisis and bringstability to millions of families across the country,” according tothe federation, which has scheduled a special conference call onDec. 11, 2007 at 2:00 pm EST to address the specific issues withwhich community development institutions participating in directlending are dealing.

Presenting credit unions include Community Trust CU of Modesto,Calif., Faith Community United CU of Cleveland, Ohio, Self-Help CUof Durham, N.C., The United FCU of Morgantown, W.V., and O.U.R. FCUof Eugene, Ore.

To attend the call, RSVP to Daniel Apfel, Program Associate [email protected], or at (212) 809-1850, ext. 220.

–[email protected]