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News Now

Washington
NCUA to host TARP call for CDCUs
ALEXANDRIA, Va. (2/23/10)--The National Credit Union Administration (NCUA) and the National Federation of Community Development Credit Unions are offering a joint audio conference March 4 to provide low-income credit unions (LICUs) with specifics about how to access the U.S. Treasury’s new Community Development Capital Initiative. The NCUA earlier this month approved an interim final rule that allows LICUs to redeem all or part of government-funded secondary capital, along with its matching secondary capital at any time after it has been on deposit for two years. That change was made to enable certain credit unions to particpate in the new Treasury program. LICUs that wish to take part in this program must apply for funding by April 2. NCUA Chairman Debbie Matz strongly encouraged LICUs to take part in the audio conference to "learn more about how this capital infusion could help them better serve their members and reach out to more consumers." No registration is required for the 2 p.m. (ET) session. The call-in number for the free, 60-minute audio conference is 877-293-6129. To access the conference, provide Conference ID Number: 58577856. Additional details about the initiative are available on CDFI Fund’s website www.CDFIFund.gov.


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