Even though the Georgetown University Alumni and Student Federal Credit Union is situated in Georgetown, one of the wealthiest neighborhoods of Washington D.C., the credit union, like all student-run institutions, is designated as a low-income credit union. “All student-run credit unions are designated low-income by definition, in the regulations,” said Anthony LaCreta, Director of NCUA’s Office of Credit Union Development. Although the student-run institutions are not able to access NCUA’s grants or loans for low-income institutions, the low-income designation does allow them to solicit other credit unions for deposits and other forms of secondary capital, LaCreta explained.

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