Does your credit union have low-income designation? Check out the NCUA Community Development Revolving Loan Fund Report6/2/2021
Since its creation, the Community Development Revolving Loan Fund (CDRLF) has been an efficient and effective program for targeting public resources to do public good.
CDRLF grants and loans help low-income credit unions provide basic financial services and stimulate local economic activity. These resources help institutions, many of them very small, serve individuals, families, and communities who otherwise might not be able to find affordable, federally insured financial products and services.
Read this report from the NCUA
about the CDRLF program’s performance in terms of numbers, and the success stories those numbers represent. As a cooperative credit community, investing in members and communities, particularly where resources are otherwise scarce, creates a virtuous cycle that can change the financial future of families.