NAFCU
to SBA: Include all CUs in dedicated PPP application window
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
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
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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