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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.

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