NCUA Board approves changes to Member Business Lending Rule

Federally insured credit unions will no longer have to count loans made on any 1-to-4-unit family dwellings as member business loans after a vote by the National Credit Union Administration Board. As such, these loans will not count towards the aggregate member business loan cap imposed on each federally insured credit union. The final rule, […]

Federally insured credit unions will no longer have to count loans made on any 1-to-4-unit family dwellings as member business loans after a vote by the National Credit Union Administration Board.

As such, these loans will not count towards the aggregate member business loan cap imposed on each federally insured credit union.

The final rule, available online here, will become effective upon publication in the Federal Register.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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