WASHINGTON -- NCUA's Community Development Revolving Loan Fund program got a boost from Capitol Hill recently.
The CDRLF actually obtained greater funding from the House than it had even requested based upon Chairman JoAnn Johnson's testimony from an earlier congressional hearing. The bill awaits Senate action.
According to NCUA Director of Public and Congressional Affairs John McKechnie, the agency had requested $940,000, in line with the administration's recommendation. However, the CDRLF was pumped up to $1 million by a House Financial Services Appropriation Subcommittee; until the last couple of years, the CDRLF had received at least $1 million.
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