NCUA's Development Loans Slow

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NCUA said it made one loan form its Community Development Revolving Loan Fund in May and has made just two loans from the fund through the first five months of the year as a surplus of liquidity continues to flood the credit union system. In comparison, the fund made nine loans through the first five months last year, on the way to the busiest year ever for the development fund.

Last month's loan went to Headwaters FCU, Bemidji, Minn. ($100,000). The development fund has made just one other loan for $25,000 and has no other loans being processed.

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