Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Treasury extends CDCI app deadline to April 30
ALEXANDRIA, Va. (3/30/10)--The U.S. Treasury on Monday extended the deadline for funding applications under its Community Development Capital Initiative (CDCI) until April 30. Eligibility for the CDCI program, which allows low-income credit unions (LICUs) that are certified as Community Development Financial Institutions (CDFIs) to obtain up to 3.5% of their assets as secondary capital, is determined by the National Credit Union Administration (NCUA) and the Treasury. According to an NCUA release, secondary capital plans are also required to take part in the CDCI program, and these plans must “meet the requirements per NCUA’s Rules and Regulations 701.34 (b)(1).” Secondary capital plans must be submitted by May 10. The National Federation of Community Development Credit Unions' recently opted to make $1 million in secondary capital available as matching funds for member community development credit unions (CDCUs) that might not be immediately eligible for CDCI investments in a bid to help more CDCUs qualify for CDCI funds.


RSS





print
News Now LiveWire
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
48 minutes ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
3 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
6 hours ago
UK to invest in #creditunion services for military members http://t.co/iIaBT8vuJW
6 hours ago
Read about @cumagazine's third #creditunion hero http://t.co/SROZMgc0I7
7 hours ago