Surprise donation supported projects and classroom supplies through DonorsChoose.org.
Newrizons, Lighthouse Community, and Point West were featured as CDFI success stories in a new video series from the NCUA. Read an update on Point West’s CDFI status since the video was filmed.
The NCUA has $1.2 million to give to low-income credit unions looking to launch new products, gain CDFI certification or develop staff. Grants are being accepted through June 30.
NCUA To Award First Round of Grants for CDFI Certification Applicants, New Products and Summer Internships
Low-income-designated credit unions can receive as much as $16,500 for CDFI certification, new products and student internships when the National Credit Union Administration awards its first round of technical-assistance grants in 2014. Applications will be accepted Feb. 3-14.
Oregon Gov. John Kitzhaber has called legislators back to Salem for a special session beginning Monday, Sept. 30. On the agenda: an agreement between the governor and legislative leaders to increase school funding by $140 million. The special session comes on the heels of the last week’s Interim Legislative Days, when the Oregon Legislative Assembly held three days of “informational hearings” on legislation that passed in 2013.
Western Sky Financial, a lender who came under numerous state and federal microscopes for extreme interest rates, will stop making loans next week.
DCU Interpretive Letter I-13-02 concludes that state-chartered credit unions may make certain investments that are otherwise impermissible as long as they are for the express purpose of funding employee benefit obligations.
The NCUA will issue $1.4 million in CDRLF grants to more than 100 small credit unions. NCUA OSCUI Director William Myers said the NCUA saw 77-percent more applications after “a concerted effort this year to make it easier to apply for these grants.”
Industrial will use its award to establish a small business and microenterprise loan program, which should create 1,500 jobs in Whatcom County.
The plan to buy more Treasury bonds announced by the Federal Reserve on November 3 could increase pressure on credit unionâ€™s defined benefits plan in the form of lower funding ratios, larger pension expense.