The National Credit Union Foundation and National Federation of Community Development Credit Unions have signed a memorandum of understanding to guide future collaboration, the two organizations announced.

"Every American will be affected in some way by the foreclosure crisis that is gripping our country," said NCUF National Program Director Lois Kitsch and National Federation Senior Consultant Terry Ratigan in a joint statement about the agreement. "Credit unions, which set the highest standards as responsible lenders, are on the front lines in the battle for financial stability and economic renewal. With more than one million families facing foreclosure this year, credit unions face unprecedented demands from their members for products, services, advice and understanding."

The first tangible fruit of the closer cooperation will be a joint training session at an upcoming REAL Solutions League Liaisons Meeting on what leagues and credit unions can do to assist their members and the communities they serve during the ongoing mortgage crisis, the two announced.