WASHINGTON – Two programs under NCUA's purview have taken their first steps in the appropriations process for the 2007 Fiscal Year.
According to NCUA Director of Public and Congressional Affairs John McKechnie, an appropriations subcommittee has already approved appropriations for the agency's Community Development Revolving Loan Fund and Central Liquidity Facility. The CDRLF and CLF are included in the appropriations bill for Transportation, Treasury, Housing and Urban Development, the Judiciary, District of Columbia and Independent Agencies.
The CDRLF, which provides technical assistance grants and low-cost loans to low-income designated credit unions, was approved by the subcommittee for $941,000, down from this year's $950,000, which McKechnie said was the agency's part in a government-wide effort to reign in the purse strings. The CLF received its usual $1.5 billion borrowing authority; the CLF serves as a liquidity source for credit unions.
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