NCUA Chairman Debbie Matz attended an Aug. 7 meeting in theWhite House's Roosevelt Room in which President Barack Obama announced that low-income designatedcredit union lending would be included in the administration'slatest drought-relief package.

The initiative, which includes a fast-track approval process for1,003 federal credit unions that qualify but haven't applied forlow-income status, could unlock between $250 million and $500million in new, near-term business lending, the NCUA said.Additionally, the NCUA said the measure has the potential to doublethe current number of low-income credit unions and increase theirmember business lending by nearly 75%.

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