Low-income credit unions that become certified as Community Development Credit Unions find added opportunities to reach underserved members.
The NCUA has $1.2 million to give to low-income credit unions looking to launch new products, gain CDFI certification or develop staff. Grants are being accepted through June 30.
Small credit unions should take advantage of the Small Business Health Care Tax Credit by May 15th. It can provide an unexpected windfall worth thousands of dollars.
Through a board action today, the NCUA extended the response time to accept low-income credit union designation, giving newly eligible credit unions an additional 60 days to file.
NWCUA Regulatory Advocacy Update: Mixed Reaction from Industry to NCUA’s Low-Income Designation Letters
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here is an update on industry-wide reaction to the NCUA’s letter regarding LICU eligibility.
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here is news about the NCUA’s LICU designation, which allows for exemption from the MBL cap.
According to the NCUA, some Volunteer costs associated with service can be reimbursed, however there are limitations, particularly in Washington State.