Also: Association breaks down subordinated debt rule's impact; NCUA's streamlined CDFI applications to open Jan. 24



NAFCU TODAY | The News You Need Daily.

January 13, 2021



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NAFCU to SBA: Include all CUs in dedicated PPP application window [ [link removed] ]
NAFCU President and CEO Dan Berger wrote to the Small Business Administration (SBA) following the announcement that there will be a dedicated window for paycheck protection program (PPP) applications from small lenders, urging that all credit unions be included in the application window. 


NAFCU breaks down subordinated debt rule, impact on CUs in Final Reg [ [link removed] ]
In a Final Regulation Alert sent to members Tuesday, NAFCU summarized the NCUA's recently issued rule permitting low-income designated credit unions (LICUs), complex credit unions, and new credit unions to issue subordinated debt for purposes of regulatory capital treatment. NAFCU has long advocated for a subordinated debt rule that would allow all credit unions to grow.


Streamlined CDFI applications set to open soon [ [link removed] ]
The NCUA will open its streamlined qualification process for federally-insured, low-income credit unions seeking to become certified as a Community Development Financial Institution (CDFI) Jan. 24. Credit unions that are CDFI certified are able to take advantage of training and award programs provided through the Treasury Department's CDFI Fund, which provides resources to help credit unions provide financial services in underserved communities.








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