NFCDCU Receives $500K Grant From TrinityHealth
NEW YORK - (07/12/06)The National Federation ofCommunity Development Credit Unions received a $500,000 investmentin its Capitalization Program from Trinity Health, the fourthlargest Catholic health system in the United States. Based in Novi,Michigan, Trinity Health encompasses 45 hospitals and 384outpatient facilities in seven states. Reflecting its core valuesof respect, social justice, compassion, care of the poor andunderserved, and excellence, Trinity Health has chosen theFederation to manage deposits on its behalf in communitydevelopment credit unions (CDCUs) in the seven states in which thehealth group operates. The Capitalization Program provides insureddeposits, subordinated debt (secondary capital), risk-sharingdeposits to encourage the establishment of anti-predatory lendingprograms, and grants.