ALEXANDRIA, Va. — Low income credit unions have until April 2 to apply for a federal program that would allow them to borrow money through the Troubled Assets Relief Program and the NCUA will work with the Treasury Department to determine eligibility, Pamela Williams of the agency's Office of Small Credit Union Initiatives told the NCUA Board today.
She also said that some credit unions will have to find matching funds before they can receive capital from the Treasury Department.
Credit unions have until April 16 to apply for designation by the Treasury Department as a community development financial institution.
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