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Low-income credit unions in Florida, Puerto Rico, Texas, and the U.S. Virgin Islands, hit hard by recent hurricanes, are eligible to use a streamlined certification process to qualify as Community Development Financial Institutions, the NCUA announced Friday.

“CDFI certification can open the door to financial and technical support that helps qualified low-income credit unions provide more resources locally, particularly when the need is acute, as it is in areas devastated by the hurricanes last fall,” said NCUA Chairman J. Mark McWatters.

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David Baumann

 

Credit Union Times

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