/2011+Low+Income+Designation+Presentation

NCUA’s Low Income Designation Benefits, Definition, and Application Process

NCUA's Office of Small Credit Union Inititatives

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Table of Contents Benefits of the LICU Designation II. Definition of Low­Income Members III. Application Process, Grandfather Provisions and Appeal Procedures IV. Resource Information and Contact information I.

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Benefits of NCUA’s Low Income Designation

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LICU Benefits: Community Development Revolving Loan Fund (CDRLF)

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LICU Benefits: CDRLF Loans

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LICU Benefits: CDRLF Loan Uses

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LICU Benefits: CDRLF Loan Application CDRLF Loan Applications are available on the NCUA’s website: http://www.ncua.gov/Resources/CreditUnionDevelopment/Finance.aspx

Credit unions without internet access may call (703) 518­6610 and ask that an application be faxed or mailed.

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LICU Benefits: CDRLF Technical Assistance Grants (TAG)

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LICU Benefits: CDRLF TAG Uses Adding new services; Providing financial education for members and the

community; Training staff; Exposing student interns to credit unions operations and management; Improving operations; and Operating VITA sites.

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LICU Benefits: CDRLF TAG Initiatives

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LICU Benefits: CDRLF TAG Initiatives

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LICU Benefits: CDRLF TAG Applications

CDRLF TAG Applications are available on the NCUA’s website: http://www.ncua.gov/Resources/CreditUnionDevelopment/Finance.aspx

Credit unions without internet access may call (703) 518­6610 and ask that an application be faxed or mailed.

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LICU Benefits: Nonmember Deposits

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LICU Benefits: Secondary Capital

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LICU Benefits: Secondary Capital

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LICU Benefits: Member Business Loan Rule

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Number of LICU’s Since 1990

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Low Income Definition

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Low Income Definition To Qualify: Majority of members (50.01%) must meet the definition of a low­income member Based on address information (AIRES) Income estimates are derived by linking address information to U.S. Census Bureau data

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Low Income Determination

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Low Income Determination Census Bureau Data can be located on the census website: http://factfinder.census.gov/home/saff/main.html? lang-en NCUA will use Decennial Data or data collected through the American Community Survey, whichever is most beneficial to an FCU, when determining whether it qualifies for a LICU designation.

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Low Income Definition Alternative Assessment Methods An FCU may be able to demonstrate the actual income of its members based on member income data from loan applications or member surveys. (Statistical Sampling OK) Full or part­time students in a college, university, high school, or vocational school also qualify as low­income.

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LICU Designation Process

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LICU Designation Grandfather Provisions

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NCUA Agency Contacts REGION III ­ ATLANTA 7000 Central Parkway, Suite 1600 Atlanta, GA 30328 Elliot Weiss Phone (678) 443­3022 eweiss@ncua.gov

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NCUA Agency Contacts To e-mail your AIRES share download, please send it securely through our encrypted ZixMail email option using the following URL: https://web1.zixmail.net/s/login?b=ncua eweiss@ncua.gov

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NCUA Agency Contacts April 24, 2011 Low Income Designation processing will be transferred from Region III DOI to Office of Consumer Protection Division of Consumer Access 703­518­6687

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NCUA Agency Contacts Office of Small Credit Union Initiatives 1775 Duke Street Alexandria, Virginia 22314 Phone: 703­518­6610

CDRLF Loans and Grants

Facsimile

E­Mail

703­519­4088

OSCUIApps@ncua.gov

Your Connection to Resources! http://www.ncua.gov/Resources/CreditUnionD evelopment/ResourceConnection/index.aspx NCUA's Office of Small Credit Union Inititatives

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NCUA’s Low Income Designation

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