WASHINGTON–The subcommittee that oversees NCUA's budget has increased the budget of the fund used to help low-income credit unions.

The House Appropriations subcommittee on Financial Institutions on Tuesday approved a budget that increased the allocation for the Community Development Revolving Loan Fund from $975,000 to $ 1 million. The increase must be approved by the full committee and full House as well as their counterparts on the Senate side.

NCUA spokesman John J. McKechnie praised the vote.

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