CDCUs Get Financial Aid For KatrinaRelief

NEW YORK - (11/08/05) -- The National Federation of CommunityDevelopment CUs announced Monday it has received $250,000 incommitments to help CDCUs affected by Hurricane Katrina. Thecommitments include pledges to the Federation of $150,000 from theNational CU Foundation and the Shefa Fund/Jewish Funds for Justice;and $50,000 to Mississippi-based Delta/Hope Community CU from theShefa Fund. Although Delta Hope's headquarters in Mississippi werenot directly affected, the organization had recently opened abranch in New Orleans to make affordable housing loans to thecity's low- and moderate-income residents. That branch was largelydestroyed by flooding and looting, and Shefa's donation will go toassist in the rebuilding of that facility. The Federation is nowaccepting applications from member CDCUs and other low-incomedesignated credit unions in the affected areas.