|Leveraging two organizations’ expertise to serve low-income communities, the National Credit Union Foundation (NCUF) has contracted with the National Federation of Community Development Credit Unions (Federation) to help implement NCUF’s $710,296 grant from the U.S. Department of Housing and Urban Development (HUD).|
The Federation’s CU Breakthrough™ consulting team will provide technical assistance and training to HUD-certified credit unions. Twenty-two credit unions are using the HUD grant through NCUF to provide homeownership counseling for consumers with low incomes.
“Many of the most successful counselors reaching low-income members through our HUD grant are at community development credit unions (CDCUs),” observed NCUF Executive Director Steve Delfin. “The Foundation and Federation teams will work together to bring additional housing program experience to CDCUs, and share CDCUs’ member service strategies with credit unions whose field of membership is not primarily low-income.”
“We’re very pleased to have the opportunity to work with the National Credit Union Foundation, which has been an important supporter of the CDCU movement,” said Federation President/CEO Cliff Rosenthal. “Housing counseling is a crucial service for credit unions serving low-income communities, and this program will provide credit unions with the expertise to help their members avoid the current mortgage crisis and potential foreclosure. Additionally, expanding our capacity in this area will enhance the impact of our CDCU Mortgage Center, LLC – our secondary mortgage market that helps credit unions free up capital to increase responsible and affordable mortgage lending in their communities.”
The Federation’s CU Breakthrough™ consulting team will work with NCUF’s technical assistance team led by Mark Lynch. Lynch serves as a field coach for NCUF’s signature program, REAL Solutions.