Credit Unions Behind on CDRLF Grant Applications Now Have Until July 12

Credit Unions Behind on CDRLF Grant Applications Now Have Until July 12

On July 8, the National Credit Union Administration announced that it has extended the deadline for applying for the 2024 Community Development Revolving Loan Fund (CDRLF). Interested and eligible credit unions now have until July 12 to submit their application. CUSO Magazine’s Esteban Camargo reports.

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CDFI, LID, and MDI: What’s the Difference?

CDFI, LID, and MDI: What’s the Difference?

The credit union world is chock full of acronyms. CUSO Magazine’s Esteban Camargo looks at community development financial institutions (CDFIs), low-income credit unions (LICUs), and minority depository institutions (MDIs); what they mean and the benefits each provide.

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GAO Says CDFIs Need Help, NCUA Making $3.4 Million Available to Low-Income-Designated Credit Unions Through CDRLF Grants

GAO Says CDFIs Need Help, NCUA Making $3.4 Million Available to Low-Income-Designated Credit Unions Through CDRLF Grants

The Government Accountability Office recently published a study suggesting CDFIs and MDIs need more help acquiring and implementing technology to help low- and moderate-income communities; meanwhile the NCUA is opening its CDRLF grant program for 2024 to assist low-income-designated credit unions. CUSO Magazine’s Esteban Camargo reports.

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CU Groups Applaud NCUA Minority Depository Institution Program, but Say More Work Needed

CU Groups Applaud NCUA Minority Depository Institution Program, but Say More Work Needed

From tailored examinations to merger assistance, the NCUA has taken useful first steps in increasing assistance to MDIs, but more work is needed say industry trade associations and MDI credit unions. CUCollaborate’s David Bauman reports.

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NCUA’s Community Development Revolving Loan Fund to Award Up to $3.5M in 2023

NCUA’s Community Development Revolving Loan Fund to Award Up to $3.5M in 2023

The National Credit Union Administration announced that eligible credit unions will once again be able to apply for Community Development Revolving Loan Fund (CDRLF) grants in 2023, with the application window opening from May 1 to June 30, reports Esteban Camargo.

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NCUA: More People Joining Credit Unions, But CU Numbers Dropping

NCUA: More People Joining Credit Unions, But CU Numbers Dropping

CUCollaborate’s David Baumann reports on the latest finding from the NCUA’s quarterly credit union data summary for the third quarter of 2022.

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Credit Union CEO Asks Congress to Boost CDFI Funding, Simplify Application

Credit Union CEO Asks Congress to Boost CDFI Funding, Simplify Application

David Baumann of the Washington CU Daily reports that Congress should increase funding for the Community Development Financial Institutions program and make it easier for credit unions and banks to become certified, Jeanne Kucey, chief executive officer of the JetStream Federal Credit Union told a Senate Subcommittee.

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Community Coalition Joins Banks in Blasting Credit Unions

Community Coalition Joins Banks in Blasting Credit Unions

The National Community Reinvestment Coalition joined the American Bankers Association and the Independent Community Bankers of America in telling Congress that credit unions are not fulfilling their mission and are not sufficiently accountable to the communities they serve, reports David Baumann of the Washington Credit Union Daily.

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NCUA to Accept Streamlined Applications for CDFI Certification

NCUA to Accept Streamlined Applications for CDFI Certification

Low-income, federally insured credit unions that wish to be certified as Community Development Financial Institutions may apply for the NCUA’s streamlined qualification process between Sept. 12 and Oct. 15, agency officials announced.

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