SAN FRANCISCO – Officials of Northeast Community FCU are considering service reductions in the face of a $110,000 cut in funding from the Mayor’s Office of Community Development.
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The community development credit union last week said the $110,000 cut could force it to reduce services by half in two of its branches or to scale back or scrap plans to open a new branch in the South of Market area in San Francisco.
The city program provided the CDCU with $155,000 in funding in last year’s budget.
The Mayor’s program administers the federal Community Development Block Grant, which is aimed at assisting low- and moderate-income communities.
