The National Credit Union Administration released its 2021 Community Development Revolving Loan Fund (CDRLF) Report to Congress, highlighting the fund’s significant and positive impact on credit unions, their members, and their communities. A complete list of grant and loan awardees and a breakdown of awardees and funding by state is also included in the report.
Congress created the CDRLF to stimulate economic development in low-income communities served by credit unions. Through its stewardship of the fund, the NCUA provides grants and loans to low-income-designated credit unions that use this funding to improve and expand services to members, build capacity, and stimulate local economic activity. Although relatively small in size, these grants make a big difference to low-income and minority credit unions working to provide more and better services to their members and communities.
The NCUA does not use appropriated funds to administer the CDRLF. Every penny of appropriations goes to eligible credit unions and their member-owners.
Additional information on the Community Development Revolving Loan Fund can be found at https://www.ncua.gov/support-