Federation Gets $250K In Funds To Help Victims
The National Federation of Community Development CUs announced last week it has received $250,000 in commitments to help CDCUs affected by Hurricane Katrina. The commitments include pledges to the Federation of $150,000 from the National CU Foundation and the Shefa Fund/Jewish Funds for Justice; and $50,000 to Mississippi-based Delta/Hope Community CU from the Shefa Fund.
Although Delta Hope's headquarters in Mississippi were not directly affected, the organization had recently opened a branch in New Orleans to make affordable housing loans to the city's low- and moderate-income residents. That branch was largely destroyed by flooding and looting, and Shefa's donation will go to assist in the rebuilding of that facility. The Federation is now accepting applications from member CDCUs and other low-income designated credit unions in the affected areas.