Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
10 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
12 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
12 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
12 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
13 hours ago