Efforts to bring credit unions under a federal community reinvestment act could be strengthened if CU's commitment to help lower income communities falters, according to Cliff Rosenthal, CEO of the National Federation of Community Development Credit Unions.
"Right now what we have noticed is a general cutting back on budgets in this area," Rosenthal said, "even among some of our community development partner credit unions, there has been a marked shifting of focus."
Community development partner credit unions are "mainstream" credit unions with a strong demonstrated commitment to serving low-and moderate-income people and communities.
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