CURE offering assistance for CU charters, low-income designations

The NCUA’s Office of Credit Union Resources and Expansion will offer more resources for credit unions to identify low-income areas they might serve and to assist people organizing credit unions with the charter 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 charter modernization effort is under way to automate and streamline the process, including plans for a new web portal. The agency will also offer predeveloped business models.

The NCUA also makes training available for all credit unions, including minority depository institutions, through its Learning Management Service. In addition, the agency hosts WebEx online meetings and teleconferences 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 June 2 through July 20. The NCUA will administer approximately $2 million in grants to the most qualified applicants, subject to the availability of funds.

For more information, visit the NCUA website.