NEW YORK — The National Federation of Community Development Credit Unions said that despite significant cuts to community development programs in the Obama administration's recently released FY2012 budget, the Community Development Financial Institutions (CDFI) Fund has emerged relatively unscathed.

The President has requested $227.2 million for FY2012, a slight reduction from the FY2010's $247 million; the amount was a carry-over into FY2011 through Continuing Resolutions.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.