SAN FRANCISCO - The National Federation of CDCUs yesterday said it plans to raise $25 million in new funds to make capital investments in its community development credit unions.
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Cliff Rosenthal, executive director of the Federation, said Monday during the group's West Coast Financial literacy Forum it has raised $8.5 million towards that goal, most of it from long-time patrons such as the Ford Foundation, the Treasury's Community Development Financial Institutions Fund, HSBC Bank, TD Bank and Calvert Social Investment Foundation, among others.
With the recent investments, the Federation now manages over $35 million, which is invested in 120 CDCUs.
