Tuesday, January 14, 2020

3 CUs Remain in TARP's CDCI Program

At the end of 2019, four finacial institutions, including 3 credit unions, remain in the U.S. Department of the Treasury's Community Development Capital Initiative (CDCI) program.

The three credit unions are Cooperative Center Federal Credit Union (Berkeley, CA), D.C. Federal Credit Union (Washington, D.C.), and Buffalo Cooperative Federal Credit Union (Buffalo, NY).

During 2019, three credit unions repurchased their securities owned by the U.S. Treasury.

However, it is doubtful that two remaining credit unions will be able to exit the CDCI program. Both credit unions are undercapitalized.

CDCI program is part of the Troubled Asset Relief Program (TARP).

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