WASHINGTON — The National Federation of Community Development Credit Unions is formally taking over the role of acting as an intermediary between credit unions that want to apply for grants from the Department of Housing and Urban Development and HUD itself.

Previously the National Credit Union Foundation filled that role but it brought the Federation into its structure last year because of the volume of the grants that were going to Federation members, according to Steve Delfin, Foundation Executive Director.

“Over the past five years, the Foundation has attracted more than $3.2 million in HUD grants for credit unions,” said NCUF Executive Director Steve Delfin. “Overall, community development credit unions demonstrated the most success meeting HUD's criteria. So last year we included the Federation in our final HUD grant. Having worked closely with the Federation to help credit unions implement this grant, we are confident that they are well positioned to take on our role as HUD intermediary.”

“We're grateful to the foundation for introducing HUD to credit unions and to the Federation,” said Federation President/CEO Cliff Rosenthal. “Housing counseling is a crucial service to help consumers avoid the current mortgage crisis and potential foreclosures, and credit unions have an incredible opportunity to aid millions of Americans facing these problems.”