NCUF grants $150,000 to hurricane-damaged CDCUs
WASHINGTON (11/8/05)--The National Credit Union Foundation (NCUF) has approved a $150,000 grant to assist hurricane-damaged community development credit unions (CDCU).
The National Federation of Community Development Credit Unions' Community Development Relief & Rebuilding Fund will administer the disaster relief grant.
"All of us on the foundation board recognize the critical role of community development credit unions in serving people of modest means," said NCUF Chairwoman Mary Cunningham, CEO, USA FCU, San Diego. "Especially at a time when so many people are struggling to recover from Hurricane Katrina, they need strong credit unions to get their finances--and their lives--back in order."
Funding from this grant will be used for purposes that clearly address damage or expenses related to Hurricane Katrina suffered by CDCUs.
The grant funds may be used for limited-term general operating expenses or staff time. The grant recipients will track and record the uses of all funds and will provide quarterly reports to the federation, which will in turn report to NCUF.
"We're grateful to the National Credit Union Foundation for their support and partnership," said Cliff Rosenthal, executive director of the federation. "With their help we will be able to address not only the immediate needs, but also the vital task of returning CDCUs and other low-income credit unions to health."
In all, NCUF has disbursed a record $2 million in the two months since Hurricane Katrina struck Aug. 29.
More CU/System
News Now LiveWire
- Iowa Gov. Terry Branstad credited Dupaco Community CU for its role in helping an Iowa small business grow and create jobs. - 1 hour ago
- Iowa Gov. Terry Branstad visits Dupaco Community CU, notes CU's role in helping small bizzes grow & creating jobs in state. - 3 hours ago
- Gunman killed Friday in shootout w/ police outside PBC CU, West Palm Beach, Fla., I.D.'d as Christopher Brown, 18. No one hurt inside CU. - 3 hours ago
- In Wash Post article on ?end of Fannie and Freddie,? CUNA?s Hampel says CUNA, CUs are working on contingency plans. http://t.co/bzmi57mY - 3 hours ago
- John Bell, an employee of NC Community FCU, has announced his candidacy for the NC House of Representatives. - 3 days ago
- See all our Tweets and sign up; News Now LiveWire on Twitter
