CDRLF Is Lonelier Than The Maytag Repairman

Register now

NCUA said it made a single loan from its Community Development Revolving Loan Fund in December of $100,000 to Coastal Waters FCU, Mobile, Ala., closing the books on one of the fund's slowest years ever. The fund made just six loans for a total of $980,000 in 2003, compared to 20 loans in 2002 and 10 loans in 2001. Officials said the overflowing liquidity in the credit union movement limited the need for extra funding. The fund also made a total of 168 small technical assistance grants for a total of $367,657 in 2003; that's down from 274 awards for a total of $1.6 million in 2002.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER