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News from the Federation - National Federation of Community Development Credit Unions - National Federation of Community Development Credit Unions
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News from the Federation - National Federation of Community Development Credit Unions
Top Headlines
Federation Community Development Partner, Bethpage FCU, Featured on NBC
Federation CEO Meets with NCUA Chairman Fryzel
South Side Community FCU Honored
CDCUs, Federation Awarded 4.7 Million from Federal CDFI Fund
Federation Investments Over $29 Million - Apply Now!
Federation's Mortgage Center Aids New Orleans Renewal
Federation Community Development Partner, Bethpage FCU, Featured on NBC
(October 8, 2008 - New York, NY) Last night a local New York Metropolitan Area NBC station ran a rwo-minute story on how the financial crisis is making credit unions and community banks more popular. The story featured great sound bites from Kirk Kordeleski, CEO of Bethpage FCU (Bethpage, NY), one of the Federation's Community Development Partners.
To view a video of the segment, please click here.
Federation CEO Meets with NCUA Chairman Fryzel
(September 12, 2008 – Alexandria, VA) On August 26, Clifford N. Rosenthal, President and CEO of the National Federation of Community Development Credit Unions (Federation), met with Michael E. Fryzel, the recently appointed Chairman of the National Credit Union Administration (NCUA) at the agency’s headquarters to discuss key concerns to low-income and small credit unions.
Among the Federation’s priorities discussed at the meeting were:
Chartering and start-up of new credit unions;
Credit union partnerships; and
Examiner supervision of low-income credit unions
“Our biggest concern, simply put, continues to be aligning the agency’s high-level policy with field-level practice,” Rosenthal said. “The Federation will continue to make every effort to ensure that Chairman Fryzel is aware of the disconnect that often occurs in implementing regulatory supervision, and encourage him to improve the agency’s consistency. We will welcome his efforts and look forward to working with him and the rest of NCUA’s Board of Directors.”
To read the full press release, please click here.
CDCUs, Federation Awarded 4.7 Million from Federal CDFI Fund
Federation to Assist Credit Unions with Certification, Application
(August 29, 2008, New York, NY)The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund yesterday announced $54.2 million in awards to 89 community development financial institutions around the United States. Twelve credit unions and the National Federation of Community Development Credit Unions (Federation) were among the winners.
Two credit unions, ASI FCU (Harahan, LA; $1.097 million) and Latino Community CU (Durham, NC; $1.0 million) were the biggest credit union winners. Other awards ranged from $39,000 to nearly $600,000. (See attached chart for complete list.) The larger awards are part of the CDFI Fund’s “Core” and “SECA: (Small and Emerging CDFI Assistance)” Financial Assistance (FA) programs, while the amounts of $100,000 or less come under its Technical Assistance (TA) program.
To read the full press release please |
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