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CU System
NCUF federation partner to implement HUD grant
WASHINGTON and NEW YORK (11/20/07)--The National Credit Union Foundation (NCUF) has contracted with the National Federation of Community Development Credit Unions to help implement NCUF’s $710,296 grant from the U.S. Department of Housing and Urban Development (HUD). The federation’s CU Breakthrough consulting team will provide technical assistance and training to HUD-certified credit unions. Twenty-two credit unions are using the HUD grant through NCUF to provide homeownership counseling for consumers with low incomes. “Many of the most successful counselors reaching low-income members through our HUD grant are at community development credit unions (CDCUs),” said NCUF Executive Director Steve Delfin. “The foundation and federation teams will work together to bring additional housing program experience to CDCUs, and share CDCUs’ member service strategies with credit unions whose field of membership is not primarily low-income," Delfin said, adding the partnership will leverage both organizations’ expertise to serve low-income communities. Federation President/CEO Cliff Rosenthal noted that NCUF is an important supporter of the CDCU movement. "Housing counseling is a crucial service for credit unions serving low-income communities, and this program will provide credit unions with the expertise to help their members avoid the current mortgage crisis and potential foreclosure." Rosenthal said expanding the federation's capacity in this area will enhance the impact of its CDCU Mortgage Center LLC, a secondary mortgage market to that helps credit unions free up capital for responsible, affordable mortgage lending. The CU Breakthrough consulting team will work with NCUF’s technical assistance team led by Mark Lynch. Lynch serves as a field coach for NCUF’s signature program, REAL Solutions.
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