WASHINGTON–The subcommittee that oversees NCUA's budget has increased the budget of the fund used to help low-income credit unions.
The House Appropriations subcommittee on Financial Institutions on Tuesday approved a budget that increased the allocation for the Community Development Revolving Loan Fund from $975,000 to $ 1 million. The increase must be approved by the full committee and full House as well as their counterparts on the Senate side.
NCUA spokesman John J. McKechnie praised the vote.
Recommended For You
"NCUA is pleased that Congress has recognized the constructive role that the Community Development Revolving Loan Fund can play in disadvantaged communities. In past years, grants and loans have enabled low-income credit unions to do more to help consumers, and NCUA will continue to use these funds wisely, regardless of the amount appropriated by Congress," he said.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
