Fed Gov Urges CUs To Partner With Housing Assistance Group

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Federal Reserve Governor Edward Gramlich called on credit unions to partner with the Neighborhood Reinvestment Corp., a non-profit group he chairs that helps provide housing assistance across the country. Gramlich told attendees to NAFCU's Congressional Caucus that credit union have partnered with the Washington-based group in more than two dozen locals to help build homeownership among low- and moderate-income people and inner cities. Partnerships between credit unions and the NRC have blossomed over the past two years since the involvement with the group of NCUA Board member Deborah Matz, now an NRC director. Last year, Matz helped broker a project under which New Hampshire's credit unions will provide $35 million in affordable housing assistance through an NRC affiliate, known as Neighborworks.

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