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National Federation of Community Development Credit Unions
New York NYCDFI Awards for National Federation of Community Development Credit Unions
FA (2008) - $1,000,000
The National Federation of Community Development Credit Unions (NFCDCU) is a certified CDFI established in 1996 NFCDCU invests in credit unions to help expand asset-building products and services in low-income communities across the country It will use the FY 2008 Financial Assistance award of $1,000,000 to establish a new mortgage refinance product, administered by community development credit unions, to assist borrowers who are at risk of losing their homes.
FA (2007) - $600,000
The National Federation of Community Development Credit Unions (NFCDCU) is a certified national CDFI intermediary. NFCDCU was established in 1974 and serves as the association of community development credit unions. It provides loan funds and development services assistance to credit unions, helping them expand their asset-building products and services in low-income communities across the nation. NFCDCU will use its FY07 Financial Assistance award to increase the capital in its loan fund.
FA (2004) - $1,000,000
The National Federal of Community Development Credit Unions (NFCDCU), will use the award to introduce a new capital product: the CDCU Family Home Fund, a source of mortgage loan capital for non-conforming loans to first-time homebuyers in low-income and minority communities. The Family Home Fund is designed to increase homeownership through first mortgage financing for low-income households in Housing Hot Zones and among minority families. The Family Home Fund will purchase non-conforming mortgages made by community development credit unions (CDCU), thereby enabling the selling CDCUs to increase the volume of mortgage lending. NFCDCU estimates that the $1 million grant from the CDFI Fund will leverage an infusion of an additional $14 million of mortgage lending capital in Hot Zones over the next three years.
CORE (2002) - $475,000
The profile for this award is not currently available.
CORE (2002) - $1,750,000
The CDFI Fund's $1,750,000 capital grant will help support the CDCU training institute and an IDA grant program, and will help collateralize microenterprise loan products offered by member institutions.
CORE (2002) - $2,000,000
The Awardee proposes to use the CDFI Fund award to capitalize an anti-predatory lending product and to expand its existing capital investment programs.
CORE (1997) - $3,250,000
The $3.25 million grant from the CDFI Fund will enable NFCDCU to provide community development credit unions with secondary capital in the form of intermediate to long-term subordinated debt, and uninsured non member deposits. This intermediary financing will enable these credit unions to enhance their community development impact. NFCDCU will target its efforts at small and start-up credit unions and credit unions that need capacity building. NFCDCU expects the CDFI Fund investment to leverage substantial non member deposits, grants, and secondary capital investments.
Other Community Development Financial Institutions in New York
AAFE Community Development Fund
New York
ACCION New York
New York
Adirondack Economic Development Corporation
Saranac Lake
Akwesasne Indian Housing Authority
Hogansburg
BOC Capital Corp.
Brooklyn
Carver Federal Savings Bank
New York
CDCLI Funding Corporation, Inc.
Centereach
Citibank NMTC Corporation
New York
Commercial and Industrial Capital Corporation
Staten Island
Credit, Inc.
Bronx
GS New Markets Fund
New York
HEDC New Markets, Inc
New York
Home Headquarters, Inc.
Syracuse
Iroquois Venture Corporation
Hogansburg
JobStart Chautauqua, Inc.
Mayville
MSD New Markets, Inc
New York
Nos Quedamos
Bronx
NYCB Community Development Corp
Westbury
Progressive Neighborhood FCU
Rochester
Project Enterprise
New York
Seedco
New York
Seedco Financial Services
New York
Seneca Nation of indians
Salamanca
Sephardic Angel Fund
Brooklyn
St. Charles Borromeo Church FCU
New York
The Disability Fund, Inc.
Albertson
UA, LLC
New York
Westchester Housing Fund, Inc.
Hawthorne
Women"s Venture Fund, Inc.
New York
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