The NCUA announced it will present a small-dollar lending webinar on Wednesday, April 16.
|Economic Development Specialist Tom Penna, Jr., from NCUA'sOffice of Small Credit Union Initiatives, and Lucinda Johnson,program officer in NCUA's Office of Examination and Insurance, willparticipate in the event starting at 2 p.m. Eastern.
|Representatives from two credit unions that are active insmall-dollar lending will also participate in the webinar,which will discuss the creation of short-term lending programs.
|Topics include the benefits of offering short-term, small-dollarloans for a credit union's portfolio mix. The regulatory issues andcosts associated with these loans will also be discussed.
|The NCUA Board approved a rule in 2010 that allows federalcredit unions to offer an affordable source of short-term credit totheir members.
|The agency said demand for these loans has grown in recentyears. According to the NCUA, as of Dec. 31, 2013, there was $27million outstanding in low-cost credit union alternative paydayloans, representing a year-over-year increase of 27.6%.
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