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CUNA Urges Increased Funding for CU Funds and CDFI

WASHINGTON - In letters last week to Senate Appropriations Committee Chairman Thad Cochran (R-Miss.), CUNA President and CEO Dan Mica encouraged the committee to increase funding for two NCUA programs and Treasury's Community Development Financial Institutions fund.

By Staff Writer | Updated on July 25, 2006

WASHINGTON – In letters last week to Senate Appropriations Committee Chairman Thad Cochran (R-Miss.), CUNA President and CEO Dan Mica encouraged the committee to increase funding for two NCUA programs and Treasury’s Community Development Financial Institutions fund.

CUNA strongly supports an increase of funding for the NCUA’s Community Development Revolving Loan Fund to at least $2 million; the agency has only asked for $941,000 for FY 2007 as part of a government wide effort to tighten the purse strings. The House approved its bill with that amount. Typically, NCUA received about $1 million in funding for the CDRLF.

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