WASHINGTON — The National Federation of Community DevelopmentCredit Unions is formally taking over the role of acting as anintermediary between credit unions that want to apply for grantsfrom the Department of Housing and Urban Development and HUDitself.

Previously the National Credit Union Foundation filled that rolebut it brought the Federation into its structure last year becauseof the volume of the grants that were going to Federation members,according to Steve Delfin, Foundation Executive Director.

“Over the past five years, the Foundation has attracted morethan $3.2 million in HUD grants for credit unions,” said NCUFExecutive Director Steve Delfin. “Overall, community developmentcredit unions demonstrated the most success meeting HUD's criteria.So last year we included the Federation in our final HUD grant.Having worked closely with the Federation to help credit unionsimplement this grant, we are confident that they are wellpositioned to take on our role as HUD intermediary.”

“We're grateful to the foundation for introducing HUD to creditunions and to the Federation,” said Federation President/CEO CliffRosenthal. “Housing counseling is a crucial service to helpconsumers avoid the current mortgage crisis and potentialforeclosures, and credit unions have an incredible opportunity toaid millions of Americans facing these problems.”