NCUA Awards 3 No-Interest Loans
NCUA has awarded three no-interest loans last month through its Community Development Revolving Loan Fund, the biggest going to a credit union severelly damaged by Hurricane Katrina. Last month's loans went to UNO (University of New Orleans) FCU $299,000, as well as Bethex FCU, New York ($180,000) and Kearney FCU, Kearney, Neb. ($200,000). The agency has made just four of the no-interest development loans so far this year, the other going to Latino Community FCU, in Durham, North Carolina, in February.