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On Site Coverage: Federation Comes Out in Favor of Using TARP Funds

Washington -- During CUNA's Governmental Affairs Conference, the board of the National Federation of Community Development Credit Unions has come out in favor of making TARP funds available to struggling credit unions.

By David Morrison | Updated on February 24, 2009

Washington — During CUNA’s Governmental Affairs Conference, the board of the National Federation of Community Development Credit Unions has come out firmly in favor of making funds from the Troubled Asset Relief Program available to struggling credit unions.

“We are concerned about the consequences of reduced net worth and return on assets (ROA) that would necessarily result from the measures that the National Credit Union Administration (NCUA) has proposed,” said National Federation CEO Cliff Rosenthal.

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