X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

More than 900 credit unions have received the low-income credit union designation since the NCUA kicked off an initiative to recruit more in 2012, and there now are 2,002 in total, the agency said Thursday.

Eligibility requires that a majority of a federal credit union’s membership be low income according to 2010 Census data and the designation carries benefits that include exemption from the 12.25% member business lending cap, eligibility for Community Development Revolving Loan Fund grants and low-interest loans, authorization to obtain supplemental capital, and the ability to accept deposits from non-members.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.