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News Now

CU System
Florida league on state CFOs financial action team
TALLAHASSEE, Fla. (8/20/08)--The Florida Credit Union League (FCUL) will represent credit unions on a new Financial Action Team formed by state Chief Financial Officer Alex Sink to help Floridians get assistance in an economic crisis. Sink announced Friday that she created the team to identify federal assistance available to Florida in an effort to increase the amount of aid to Floridians facing economic crisis. The team will analyze the recently passed Housing and Economic Recovery Act of 2008 to maximize Florida's share of the billions available in federal dollars to help the state's taxpayers weather economic challenges. Florida had the second-highest number of foreclosures in the nation in July, posting 45,884 foreclosures, according to RealtyTrac's July 2008 U.W. Foreclosure Market Report. That is a 14% increase from June. Florida's foreclosure rate was the third-highest in the nation, with one foreclosure for every 186 households. Florida has a 6.1% unemployment rate, the highest since January 1995. The Agency of Workforce Innovation attributes the negative growth to a decline in construction. In addition to FCUL, members of the team include representatives from 11 other organizations.


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