NCUA to Extend LICU Opt-In Process to State-Chartered Credit Unions

After a letter from the NCUA last month invited more than 1,000 federally chartered credit unions to apply for low-income credit union designation, the agency has announced plans to extend a similar offer to state-chartered credit unions.

NWCUA Regulatory Advocacy Update: 18 Northwest Credit Unions Eligible for Low-Income Designation

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.