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.
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.
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.
NCUA Awards $3.1 Million in 2023 CDRLF Round
The NCUA announced Thursday that it has awarded $3.1 million in Community Development Revolving Loan Fund grants to 142 low-income credit unions and MDIs, reports David Baumann of CUCollaborate.
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.
Hauptman: Provide Incentives for Credit Unions to Become Minority Depository Institutions
David Baumann reports on Kyle Hauptman’s statements and answers to the Senate Banking Committee, including opinions on credit unions’ status as MDIs, overdraft policies, and virtual examinations.
