Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CDRLF application period open to CUs
ALEXANDRIA, Va. (3/21/12)--Eligible credit unions may now submit applications for the 2012 round of the Community Development Revolving Loan Fund (CDRLF) Loan Program, the National Credit Union Administration (NCUA) announced in Tuesday's edition of the Federal Register.

The CDRLF provides loans and technical assistance to federal and state credit unions that are designated as low-income credit unions, as defined by NCUA regulations. Assets in the CDRLF, including interest earned and appropriations, totaled $17.5 million as of Sept. 30, 2011, and the Obama administration has requested an additional $1.19 million in CDRLF funding in its proposed 2013 budget.

The NCUA noted that Congress has not made an appropriation to the CDRLF for loans for Fiscal Years 2012-2013, but said it expects to lend approximately $11 million in this application cycle. The agency expects the maximum loan amount for this cycle to be around $300,000, but said it could exceed that cap in some circumstances.

The agency said it would accept applications from May 22 until Dec. 31, but warned that available funds may be exhausted before the end of the year.

For more on this CDRLF funding round, use the resource link
Other Resources

RSS





print
News Now LiveWire
.@NACHAOnline report: ACH volume increases to 23B payments in 2014 http://t.co/va2WYMh4Zv
16 hours ago
.@CUNA's @HampelBill in @washingtonpost on options for wary mortgage borrowers: http://t.co/CPSgTNgwmm
21 hours ago
Housing starts thaw, mortgage rates stand pat #Market #NewsNow http://t.co/hhPj5v5AH3
22 hours ago
.@CUNA files #RBC2 comment, urges #CU system to be heard #NewsNow http://t.co/yfoZHAMlZc
22 hours ago
#NewsNow Youth Month attracts 100,000th member for Mich. CU http://t.co/cgF5o83XlK
22 hours ago