Fifteen of our Arkansas Credit Unions have obtained a low-income designation from the NCUA.
Those Credit Unions range in asset size from three hundred thousand dollars serving 300 members, to sixty one million dollars serving over 9800 members.
Is your Credit Union eligible for this designation?......Should you apply?......What's the Benefit to your Credit Union?
In this workshop, Richard Handrick will explain:
The definition of the term "low income designation" as put forth in Section 701.34 of NCUA's Rules and Regulations.
The "qualifying process" for obtaining this designation
Some advantages, and benefits the designation brings to qualified Credit Unions .
The "application process" for available grants offered to Credit Unions with this designation.