NCUA TO PARTICIPATE IN WHITE HOUSE CONFERENCE
ON FAITH-BASED AND COMMUNITY INITIATIVES
Panel Discussion Focuses on Credit Union Role in Community Development
and Highlights Faith-Based Credit Unions
Alexandria, VA, October 22, 2003 – National Credit Union Administration
(NCUA) Board Chairman Dennis Dollar announced today that the NCUA will
participate in the White House Conference on Faith-Based and Community
Initiatives on Wednesday, October 29, in Memphis, Tennessee.
NCUA’s Director of Credit Union Development Anthony LaCreta
will serve as a presenter on the community development panel along
with representatives of the Department of Health and Human Services,
Department of Housing and Urban Development, and the Federal Deposit
Insurance Corporation.
“We are pleased to join our Access Across America partners for
this White House conference on the important issue of community development
and facilitating greater access to lower-cost financial services in
underserved communities,” said Chairman Dollar. “Faith-based
credit unions across the country are making a significant contribution
toward helping families gain financial self-sufficiency.”
The White House, together with federal departments and agencies that
are working to further the White House initiative, has scheduled a
series of conferences to help faith-based and community organizations
learn more about President Bush’s initiative.
The NCUA has made the chartering and expansion of faith-based credit
unions a priority. As part of the agency’s Access Across America
initiative, which focuses on creating economic empowerment for people
from all walks of life, NCUA has made faith-based credit unions a special
emphasis. Currently there are over 470 federal faith-based credit unions,
with assets exceeding $2.7 billion. 14 new federally-insured faith-based
credit unions have been chartered since January 2000. These credit
unions provide much needed access to affordable financial services
in underserved neighborhoods where higher-cost lending outlets such
as check-cashers, pawn shops, and rent-own-companies have proliferated
in recent years.
These free, day-long conferences will equip participants with information
about the programs that are suited to their needs, the federal
funding process, and the legal process to apply for federal funds. The conference is free, but pre-registration is required. Registration
is on a first-come, first-serve basis. For additional information,
visit: http://www.whitehouse.gov/government/fbci
The National Credit Union Administration, governed by a three-member
board appointed by the President and confirmed by the Senate, is
the independent federal agency that regulates, charters, and supervises
federal credit unions. NCUA, with the backing of the full faith and
credit of the U.S. government, also operates and manages the National
Credit Union Share Insurance Fund (NCUSIF), insuring the deposits
of over 80 million account holders in all federal credit unions and
the overwhelming majority of state-chartered credit unions.
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