NCUA Now Lends Money For CDCU TechnicalAssistance

ALEXANDRIA, Va. - (12/17/04) -- NCUA said its Community DevelopmentRevolving Loan Fund ran out of money to make small technicalassistance grants so started making 1% loans out of the fund lastmonth to help finance the help for low-income credit unions, TheCredit Union Journal has learned. The fund started making thetechnical assistance loans in October, providing $12,500 forTri-Valley Community CU,$10,700 for TEPEYAC CU, $8,500 forRenaissance FCU, $5,000 for San Antonio Water Board FCU, $20,000for Bethex FCU, $15,000 for Clarke Educators FCU, and $20,000 forFriendship Baptist FCU. Earlier this year the fund provided morethan $1.2 million in small grants to help finance things likeauditing, computer assistance, marketing, and training forlow-income, mostly small, credit unions. The fund also made onelarge loan last month, to CO-NE FCU ($100,000).