Mon, Jun 19, 2017
CUNA wrote to House and Senate appropriators Friday in strong support of funding NCUA’s Community Development Revolving Loan Fund (CDRLF) at $2 million for fiscal year 2018. The administration’s budget submission to Congress eliminates CDRLF funding.
“We urge Congress to fully fund the CDRLF because this program makes a difference for many low-income designated credit unions and helps them provide important services to their members,” wrote CUNA President/CEO Jim Nussle. “The CDRLF usually receives requests that greatly exceed available funds and CUNA is concerned that an elimination of this fund will result in fewer low-income credit unions having access to needed capital to provide critical services to low-income credit union members.”