Thirteen counties in three states affected by drought this year included in SBA eligibility.
The NCUA on Thursday said that two-thirds of the 1,003 credit unions offered the eligibility to become a low-income credit union have accepted.
Examinations council says drought conditions will be taken into consideration in evaluating credit decisions.
Second-quarter NCUA stats show Peace Garden State tops in the nation in 12-month asset growth.
Our latest analysis of NCUA data: Hawkeye State credit unions post some of the highest ROA but the drought could dry that up.
Longtime farmers are all too familiar with the outcomes when a drought moves in and takes over, killing crops and livestock.
NCUA Chairman Debbie Matz attended an Aug. 7 meeting in the White House’s Roosevelt Room in which President Barack Obama announced that low-income designated credit union lending would be included in the administration’s latest drought-relief package.
As drought-stricken businesses across the country are in dire need of assistance, the Obama administration asked the regulators to find ways to provide aid. The NCUA responded by informing 1,003 credit unions of their eligibility for low-income designation and allowing them to opt-in rather than slogging through paperwork.
The financial crisis that ripped through most of the country during the past four years had left Iowa virtually unscathed. Earlier this summer, unemployment was relatively low, home prices were stable and farm incomes were on the rise. Iowa credit unions reported one of the nation’s highest return on...
Hawkeye State credit unions post some of the highest ROA in the land, NCUA figures show, but the drought could dry that up.