Sunday, October 3, 2010

CU TARP Recipients (Update)

Below is a list of more tax-exempt credit unions that received a taxpayer capital infusion from Treasury through the Community Development Capital Initiative. (See prior postings for the other credit unions that have received a capital infusion from Treasury).

Southern Chautauqua Federal Credit Union (Lakewood, NY) $1,709,000
Fidelis Federal Credit Union (New York, NY) $14,000
Bethex Federal Credit Union (Bronx, NY) $502,000
Shreveport Federal Credit Union (Shreveport, LA) $2,646,000
Carter Federal Credit Union (Springhill, LA) $6,300,000
Workers United Federal Credit Union (New York, NY) $57,000
North Side Community Federal Credit Union (Chicago, IL) $325,000
East End Baptist Tabernacle Federal Credit Union (Bridgeport, CT) $7,000
Community Plus Federal Credit Union (Rantoul, IL) $450,000
Border Federal Credit Union (Del Rio, TX) $3,260,000
Opportunities Credit Union (Burlington, VT) $1,091,000
First Legacy Community Credit Union (Charlotte, NC) $1,000,000
Union Settlement Federal Credit Union (New York, NY) $295,000
Southside Credit Union (San Antonio, TX) $1,100,000
D.C. Federal Credit Union (Washington, DC) $1,522,000
Faith Based Federal Credit Union (Oceanside, CA) $30,000
Greater Kinston Credit Union (Kinston, NC) $350,000
Hill District Federal Credit Union (Pittsburgh, PA) $100,000
Freedom First Federal Credit Union (Roanoke, VA) $9,278,000
Episcopal Community Federal Credit Union (Los Angeles, CA) $100,000
Vigo County Federal Credit Union (Terre Haute, IN) $1,229,000
Renaissance Community Development Credit Union (Somerset, NJ) $31,000
Independent Employers Group Federal Credit Union (Hilo, HI) $698,000
Brooklyn Cooperative Federal Credit Union (Brooklyn, NY) $300,000


  1. Aren't these CDFI's?

  2. Yes, they are community development financial institutions.

  3. So what is your point? This money is not a bailout, but a separate program that is using the TARP funds that the banks paid back (good for them). Are you still trying to spin this as the same program as TARP with your headlines. Sorry but we are smarter than that!

  4. A total of $570 million was awarded under the CDCI program, yet awards to credit unions were just under $70 million. The remaining $500 million went to community development banks... Not sure why you would attack credit unions for being nonprofit considering most CDFI loan funds are also nonprofit.

    Maybe these credit unions will do better than the big banks, who sat on their $700 billion dollars in TARP bailout funds, made record profits, then returned TARP so they could give their executives multi-million dollar bonuses.



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