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Community development credit unions, particularly those which been recognized as community development financial institutions by the U.S. Treasury’s CDFI Fund, plan to pay close attention to the Obama administration’s stated intention to freeze much of the federal budget.

“We haven’t seen the details yet,” said Cliff Rosenthal, CEO of the National Federation of Community Development Credit Unions on the morning of President Barack Obama’s State of the Union Message where he is expected to lay out his vision for the budget. “But overall I think we are hopeful that whatever comes won’t impact us too badly.”

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Peter Westerman


Credit Union Times

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