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Federation has record year in investments
NEW YORK (2/6/08)--2007 was a record year for the National Federation of Community Development Credit Unions and its Community Development Investments Program, according to year-end numbers. The program, formerly known as the Capitalization Program, celebrated its 25th anniversary in 2007 with a rebranding and the launch of a capital campaign aimed at raising $25 million over three years, to bring total assets under management to just over $50 million. Highlights for 2007 include:
* $10.5 million in Investments and commitments raised in a one-year period; * $8.8 million in new investments in member community development credit unions (CDCUs) in a single year; * $38.4 million in total assets under management; * 121 CDCUs participating in the program; and * 32 investors.
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