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Community Development Revolving Loan Fund Makes a Difference for LICUs

ALEXANDRIA, Va. - Though NCUA's regulatory and insurance functions are fully funded by the credit union industry, each year the agency goes to Congress to fight for a small appropriation to lend a helping hand to its low-income designated credit unions.

By Sarah Snell Cooke | Updated on June 13, 2006

ALEXANDRIA, Va. – Though NCUA’s regulatory and insurance functions are fully funded by the credit union industry, each year the agency goes to Congress to fight for a small appropriation to lend a helping hand to its low-income designated credit unions.

NCUA has historically asked for around $1 million for either low-interest loans or grants or both for its Community Development Revolving Loan Fund. However, in the last couple years, with the federal government tightening its belt, NCUA has asked for, and received, a bit less money. For fiscal year 2007, the appropriations request is around $941,000.

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