Young CDCU Threatened WithClosure

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WICHITA, Kan. - (05/23/05) -- Officials of Communities United CU,hard hit by local lay-offs, are desperately searching forassistance, the latest community development credit union to teeteron the brink. The state's only low-income credit union, charteredin 1996, said it needs $50,000 in the next 30 days to stay open.The credit union has had to use some of its capital to helpcontinue operating, pushing its net worth below minimum capitalrequirements. Other CDCUs have felt the pinch lately, forcing therecent failures of such well-knows CDCUs as D. Edward Wells FCU,Midwood FCU, Kor-Am FCU and Randolph County FCU.

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