ALEXANDRIA, Va. -- Piggybacking on the hearing on serving theunderserved (see page 1 to 34), NCUA issued a letter to creditunions (07-CU-04) explaining the ins and outs of applying for loansand technical assistance grants through the Community DevelopmentRevolving Loan Fund.

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The agency, it said, did received $940,500 for 2007 in technicalassistance grants. To receive funds from the CDRLF, credit unionsmust be designated low-income according to NCUA's rules or theequivalent for state-chartered credit unions and concurrence fromNCUA.

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This year's NCUA TAG initiatives include:

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oBuilding Internal Capacity Initiative;

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oEnhancing Member Services Initiative;

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oStaff, Official, and Board Member Training Initiative;

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oStudent Internship Initiative; and

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oVolunteer Income Tax Assistance (VITA) Initiative.

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In addition, NCUA has set aside limited funds for the UrgentNeeds Grant, to be used by eligible credit unions in cases ofextreme necessity. NCUA's TAGs are reimbursable grants, but, to bereimbursed, credit unions must receive prior approval of theproposed expenditures.

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Guidance is attached to NCUA's letter addressing issues such asgrant amounts, grant allocations by type, and applicationprocedures.

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Guidelines for each CDRLF program can be found on the NCUA Website (www.ncua.gov) under the Credit Union Development heading.

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