InfoSight Spotlight: CURE offering assistance for chartering, low-income designation

The NCUA’s Office of Credit Union Resources and Expansion (CURE) will offer more resources for credit unions to identify low-income areas they might serve and to assist people organizing credit unions with the chartering process. The NCUA has a new online low-income designation area workbook that organizing groups and existing credit unions can use to research low-income […]

The NCUA’s Office of Credit Union Resources and Expansion (CURE) will offer more resources for credit unions to identify low-income areas they might serve and to assist people organizing credit unions with the chartering process.

The NCUA has a new online low-income designation area workbook that organizing groups and existing credit unions can use to research low-income areas they can target for possible member recruitment and outreach. A new chartering modernization effort is under way that will automate and streamline the process. The NCUA plans to open a new web portal with information to assist credit union organizers. The agency will offer pre-developed business models that organizing groups can use.

The NCUA also makes training available for all credit unions, including minority depository institutions, through its Learning Management Service and hosts WebEx online meetings and teleconferences for credit unions to discuss management issues, grants and loans, and other topics. Low-income credit unions interested in 2019 Community Development Revolving Loan Fund grants can submit applications from through July 20. The NCUA will administer approximately $2 million in grants to the most qualified applicants, subject to the availability of funds.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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