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
Senate should maintain CDFIF funding level: CUNA
WASHINGTON (5/21/14)--In a letter to the Senate Appropriations subcommittee on financial services, the Credit Union National Association encouraged the committee to maintain the current level of funding to the Community Development Financial Institutions Fund (CDFIF).
 
The CDFIF makes capital grants, equity investments and awards for technical assistance to community development financial institutions (CDFIs), such as community development credit unions.
 
"CDFI-funded credit unions offer alternatives to predatory payday lenders and check-cashing services. They also promote economic revitalization and community development in distressed communities," the letter reads.
 
Funded institutions supply low-income, distressed communities with traditional banking services such as savings accounts and personal loans.
 
The Consolidated Appropriations Act for fiscal year 2014 funded the CDFIF at $226 million. This year's draft, for the fiscal year ending Sept. 30, 2015, does not yet have a CDFIF amount in the language. The bill was passed by the house May 1, and will next go to the Senate for consideration.
Other Resources

CUNA Letters to Congress
RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
2 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
21 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago