NCUA Seeking LICU Data
The NCUA has written credit union participants in a webinar this past January for information about their current effort to serve lower-income members.
Any data provided could be used in a similar online event scheduled for January 2014.
The agency has designated just more than 2,000 credit unions as low-income credit unions.
In an email to last January’s participants, the Office of Small Credit Union Initiatives asked them to describe any efforts they have made to improve on or offer a new product or service to better help low-income members.
These could include payday alternative loans, financial education programs and individual development accounts, but the agency stressed that it was also looking for examples of new and different approaches.
“Don't limit your answers to these, however. We’re particularly interested in new and unique strategies for serving the underserved,” wrote Vanessa L. Lowe, an OSCUI economic development specialist.
The office also asked the recipients to describe any efforts they have taken to better understand their low-income members' needs. That could include data analysis, member surveys or annual meeting activities.