Community Development Revolving Loan Fund, 25056-25060 [2018-11689]
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Federal Register / Vol. 83, No. 105 / Thursday, May 31, 2018 / Notices
• Minimize the burden of the
information collection on respondents,
including the use of appropriate
automated, electronic, mechanical, or
other technological collection
techniques or other forms of information
technology (e.g., permitting electronic
submission of responses).
III. Current Actions: At this time, DOL
is requesting clearance for the follow-up
survey of sample members in the
Cascades Job Corps College and Career
Academy Pilot Evaluation.
functions of the agency related to
employer services, including whether
the information will have practical
utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
ICR to survey and fieldwork
respondents, including the validity of
the study approach and assumptions
used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
Type of Review: New information
collection request.
Title: Cascades Job Corps College and
Career Academy Pilot Evaluation.
OMB Number: OMB Control Number
1290–0NEW.
Affected Public: Participants applying
for the Cascades Job Corps College and
Career Academy.
ESTIMATED BURDEN HOURS
Total
number of
respondents
Type of instrument
Annual
number of
respondents
Average
burden
hours per
response
Number of
responses per
respondent
Total
burden
hours
Annual
burden
hours
Follow-up survey ......................................
a 800
b 267
1
.58
464
155
Total ..................................................
........................
267
........................
........................
........................
155
a Assumes
a sample of 1,000 with an 80 percent response rate.
b Data collection will take place over 36 months.
Dated: May 24, 2018.
Molly Irwin,
Chief Evaluation Officer, U.S. Department of
Labor.
NATIONAL CREDIT UNION
ADMINISTRATION
[Catalog of Federal Domestic Assistance
(CFDA) Number: 44.002]
[FR Doc. 2018–11718 Filed 5–30–18; 8:45 am]
Community Development Revolving
Loan Fund
BILLING CODE 4510–HX–P
Notice of Funding Opportunity
(NOFO).
ACTION:
The National Credit Union
Administration (NCUA) is issuing this
notice to announce the availability of
funding for Low-Income Designated
SUMMARY:
Credit Unions (LICUs) Applications for
loans and technical assistance grants
under the Community Development
Revolving Loan Fund (CDRLF) program.
The CDRLF program serves as a source
of financial support in the form of loans
and technical assistance grants that
better enables LICUs to support the
communities in which they operate. All
loans and technical assistance grants
from multi-year funds made under this
NOFO are subject to funds availability
and are at the NCUA’s discretion.
DATES:
TABLE 1—FY 2018 CDRLF PROGRAM APPLICATION DATES
Initiative
Application periods
General Grant Round ........................................
Loan ...................................................................
July 1–August 18 ..............................................
Until Funds are Exhausted ...............................
11:59 p.m. Eastern Time (ET).
N/A.
Table of Contents
technical assistance grants to LICUs
serving predominantly low-income
members. These funds help improve
and expand the availability of financial
services to these members. The CDRLF
program consists of Congressional
appropriations that are administered by
the NCUA.
The NCUA will accept applications
from LICUs for the initiatives referenced
in Table 2. The financial awards may be
used for projects that support the efforts
of credit unions providing basic
financial and related services to
residents in their communities;
enhancing their capacity to better serve
their members and the communities in
which they operate.
TABLE 2—FY 2018 CDRLF PROGRAM
INITIATIVES
A. Program Description
B. Federal Award Information
C. Eligibility Information
D. Application and Submission Information
E. Application Review Information
F. Federal Award Administration
G. Federal Awarding Agency
A. Program Description
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1. Purpose
The purpose of the CDRLF program is
to assist LICUs in providing basic
financial services to their members to
stimulate economic activities in their
communities. Through the CDRLF
program, the NCUA provides financial
support in the form of loans and
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Deadline
Initiative Names:
Digital Services and Security (General
Grant Round).
Leadership Development (General Grant
Round).
Underserved Outreach (General Grant
Round).
Low-Cost Loan.
More detailed information about the
CDRLF program, including the types of
initiatives for the grant round, amount
of funds available, funding priorities,
permissible uses of funds, funding
limits, deadlines and other pertinent
details, are periodically published in
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NCUA Letters to Credit Unions, in
NCUA press releases and on the NCUA
website at https://www.ncua.gov/
services/Pages/resources-expansion/
grants-loans.aspx.
complete Application to the NCUA
under the CDRLF program. The NCUA
will consider requests for funds
consistent with the purpose of the
CDRLF program. 12 CFR 705.1.
2. Regulations and Authority
Part 705 of the NCUA’s regulations
implements the CDRLF program. 12
CFR 705. A revised Part 705 was
published on November 25, 2016. 81 FR
85112. Additional requirements are
found at 12 CFR 701 and 741.
Applicants should review these
regulations in addition to this NOFO.
Each capitalized term in this NOFO is
more fully defined in the regulations,
program guidelines, and other
application materials. For the purposes
of this NOFO, an Applicant is a
Qualifying Credit Union that submits a
Authority: 12 U.S.C. 1756, 1757(5)(D), and
(7)(I), 1766, 1782, 1784, 1785 and 1786; 12
CFR 705.
B. Federal Award Information
The NCUA expects to award
approximately $2 million in grants
through this NOFO. Approximately $5.3
million will be available for loans under
this NOFO, derived from prior-year
appropriated and earned funds. Monies
for additional loans come from
scheduled loan amortizations. The
NCUA reserves the right to: (i) Award
more or less than the amounts cited
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above; (ii) fund, in whole or in part, any,
all, or none of the applications
submitted in response to this NOFO;
and (iii) reallocate funds from the
amount that is anticipated to be
available under this NOFO to other
programs, particularly if the NCUA
determines that the number of awards
made under this NOFO is fewer than
projected.
Table 3 includes specific information
about the funding available, maximum
award amounts, and application
window for each CDRLF program
initiative. The specific terms and
conditions governing a CDRLF award
will be established in the grant or loan
agreement each Participating Credit
Union must sign prior to disbursement
of funds.
TABLE 3—FY 2018 CDRLF PROGRAM INITIATIVES AND AMOUNTS
Maximum
award
amount
Initiative
Application start date
General Grant Round:
1. Digital Services and Security .....................
$10,000
2. Leadership Development ...........................
3. Underserved Outreach ..............................
500,000
1. Additional Loan Initiative
Information
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Total
funding
available
(million)
10,000
20,000
Loan ......................................................................
Application end date
The following are the general loan
terms under the CDRLF program.
a. Maximum Loan Amount: The
NCUA makes loans based on the
financial condition of the credit union.
The applicable regulation does not
provide a maximum limit on loan
applications for consideration, but in
practice the NCUA discourages loan
applications of higher than $500,000 to
mitigate risk. There is no minimum loan
amount. The amount of the loan will be
based on the following factors:
• Funds availability;
• Credit worthiness of the credit
union;
• Financial need;
• Demonstrated capability of credit
union to provide financial and related
services to its members; and
• Concurrence from the NCUA
Regional Office and if applicable, the
State Supervisory Authority (SSA)
b. Maturity: Loans will generally
mature in five years. A credit union may
request a shorter loan period, but in no
case will the term exceed five years.
c. Interest: The interest rate on loans
is governed by the Loan Interest Rate
Policy, which can be found on the
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July 1, 2018, 9:00 a.m.
ET.
Open until funds are exhausted
NCUA’s website at https://
www.ncua.gov/services/Documents/
interest-rate-policy.pdf. CDRLF loans
are generally offered at a fixed rate for
the full term.
d. Repayment: All loans must be
repaid to the NCUA regardless of how
they are accounted for by the
Participating Credit Union.
1. Principal: The entire principal is
due at maturity.
2. Interest: Interest is due in semiannual payments beginning six months
after the initial distribution of the loan.
3. Principal Prepayment: There is no
penalty for principal prepayment.
Principal prepayments may be made as
often as monthly.
C. Eligibility Information
1. Eligible Applicants
This NOFO is open to credit unions
that meet the compliance requirements
specified in 12 CFR 705. A credit union
must have a Low-Income Credit Union
(LICU) designation, or equivalent in the
case of a Qualifying State-chartered
Credit Union, in order to participate in
the CDRLF program. Requirements for
obtaining the designation are found at
12 CFR 701.34.
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5.3
2. Matching Funds (Only Applicable to
Loan Applicants)
Part 705.5(g) of the NCUA’s
regulations describe the overall
requirements for matching funds. The
NCUA, in its sole discretion, may
require matching funds of an Applicant,
on a case-by-case basis depending on
the financial condition of the Applicant.
The NCUA anticipates that most
Applicants will not be required to
obtain matching funds. However, each
Applicant should address in the
Application its strategy for raising
matching funds if the NCUA determines
matching funds are required (see 12 CFR
705 and the Application for additional
information).
a. Matching Funds Requirements: The
specific terms and covenants pertaining
to any matching funds requirement will
be provided in the loan agreement of the
Participating Credit Union. Following,
are general matching fund requirements.
The NCUA, in its sole discretion, may
amend these requirements depending
upon its evaluation of the Applicant,
but in no case will the amended
requirements be greater than the
conditions listed below.
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i. The amount of matching funds
required must generally be in an amount
equal to the loan amount.
ii. Matching funds must be from nongovernmental member or nonmember
share deposits.
iii. Any loan monies matched by
nonmember share deposits are not
subject to the 20% limitation on
nonmember deposits under § 701.32 of
the NCUA’s regulations.
iv. Participating Credit Unions must
maintain the outstanding loan amount
in the total amount of share deposits for
the duration of the loan. Once the loan
is repaid, nonmember share deposits
accepted to meet the matching
requirement are subject to § 701.32 of
the NCUA’s regulations.
b. Criteria for Requiring Matching
Funds: The NCUA will use the
following criteria to determine whether
to require an Applicant to have
matching funds as a condition of its
loan.
• CAMEL Composite Rating
• CAMEL Management Rating
• CAMEL Asset Quality Rating
• Regional Director Concurrence
• Net Worth Ratio
c. Documentation of Matching Funds:
The NCUA may contact the matching
funds source to discuss the matching
funds and the documentation that the
Applicant has provided. If the NCUA
determines that any portion of the
Applicant’s matching funds is ineligible
under this NOFO, the NCUA, in its sole
discretion, may permit the Applicant to
offer alternative matching funds as a
substitute for the ineligible matching
funds. In this case, the Applicant must
provide acceptable alternative matching
funds documentation within 10
business days of the NCUA’s request.
3. Other Eligibility Requirements
a. Financial Viability: Applicants
must meet the underwriting standards
established by the NCUA, including
those pertaining to financial viability, as
set forth in the application and found in
12 CFR 705.7(c).
b. Compliance With Past Agreements:
In evaluating funding requests under
this NOFO, the NCUA will consider an
Applicant’s record of compliance with
past agreements. The NCUA, in its sole
discretion, will determine whether to
consider an Application from an
Applicant with a past record of
noncompliance, including any
deobligation (i.e. removal of unused
awards) of funds.
i. Default Status: If an Applicant is in
default of a previously executed
agreement with the NCUA, the NCUA
will not consider an Application for
funding under this NOFO.
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ii. Undisbursed Funds: If an
Applicant is a prior awardee under the
CDRLF program and has unused grant
awards as of the date of Application, the
NCUA will request a narrative from the
Applicant that addresses the reason for
its record of noncompliance. The
NCUA, in its sole discretion, will
determine whether the reason is
sufficient to proceed with the review of
the Application.
D. Application and Submission
Information
1. Application Form
The application and related
documents can be found on the NCUA’s
website at https://www.ncua.gov/
services/Pages/resources-expansion/
grants-loans.aspx.
2. Minimum Application Content
A complete Application will consist
of similar components for each CDRLF
program initiative. At a minimum, each
initiative requires a narrative response
that describes how the CDRLF award
will be used by the Applicant. The
NCUA reserves the right to waive this
requirement for initiatives deemed to be
satisfactory without a written
description. If an initiative does not
require a narrative response, the NCUA
will explain this in the program
guidelines.
a. Data Universal Numbering System:
The Data Universal Numbering System
(DUNS) number is a unique ninecharacter number used to identify your
organization. The federal government
uses the DUNS number to track how
federal money is allocated. Applicants
can obtain a DUNS number by visiting
the Dun & Bradstreet (D&B) website or
calling 1–866–705–5711 to register or
search for a DUNS number. Registering
for a DUNS number is FREE. The NCUA
will not consider an Application that
does not include a valid DUNS number
issued by Dun and Bradstreet (D&B).
Such an Application will be deemed
incomplete and will be declined.
b. System for Award Management: All
Applicants are required by federal law
to have an active registration with the
federal government’s System for Award
Management (SAM) prior to applying
for funding. SAM is a web-based,
government-wide application that
collects, validates, stores, and
disseminates business information
about the Federal Government’s trading
partners in support of the contract
awards, grants, and electronic payment
processes. Applicants can register by
visiting www.sam.gov. An active SAM
account status and CAGE number is
required to apply for the NCUA’s
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CDRLF programs. The SAM registration
process is FREE. Applicants that have
an existing registration with SAM must
recertify and maintain an active status
annually. The NCUA will not consider
an Applicant that does not have an
active SAM status. Such an Application
will be deemed incomplete and will be
declined.
c. Employer Identification Number:
Each Application must include a valid
and current Employer Identification
Number (EIN) issued by the U.S.
Internal Revenue Service (IRS). The
NCUA will not consider an Application
that does not include a valid and
current EIN. Such an Application will
be deemed incomplete and will be
declined. Information on how to obtain
an EIN may be found on the IRS’s
website at www.irs.gov.
d. Large Loans: An Applicant
requesting a loan in excess of $300,000
is required to complete an online
application form that contains
additional narrative comments to
support the request. In addition, the
NCUA may also require a business plan.
i. The business plan must: Describe
the community’s need for financial
products and services and the
Applicant’s need for funding;
summarize the services, financial
products, and services provided by the
Applicant; describe the Applicant’s
involvement with other entities;
describe the credit union’s marketing
strategy to reach members and the
community; and include financial
projections.
e. Non-Federally Insured Applicants:
Each Applicant that is a non-federally
insured, state-chartered credit union
must submit additional application
materials. These additional materials are
more fully described in § 705.7(b) (3) of
the NCUA’s regulations and in the
Application.
i. Examination by the NCUA: Nonfederally insured, state-chartered credit
unions must agree to be examined by
the NCUA. The specific terms and
covenants pertaining to this condition
will be provided in the loan or grant
agreement of the Participating Credit
Union.
3. Submission Dates and Times
The application period for each
CDRLF program initiative is highlighted
in Table 4. Applications must be
submitted online in the NCUA’s webbased application system, CyberGrants,
by the deadline in order to be
considered. Late Applications will not
be considered under any circumstance.
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TABLE 4—APPLICATION SUBMISSION DATES AND TIMES
Initiative
Application start date
Grant—Digital Services and Security ......................................................
Grant—Leadership Development
Grant—Underserved Outreach
July 1, 2018, 9:00 a.m. ET ............
Loan .........................................................................................................
4. Other Submission Requirements
Under this NOFO, Applications must
be submitted online at https://
www.cybergrants.com/ncua/
applications.
E. Application Review Information
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1. Review and Selection Process for
Loans
a. Eligibility and Completeness
Review: The NCUA will review each
Application to determine whether it is
complete and that the Applicant meets
the eligibility requirements described in
the Regulations and in this NOFO. An
incomplete Application or one that does
not meet the eligibility requirements
will be declined without further
consideration.
b. Substantive Review: After an
Applicant is determined eligible and its
Application is determined complete, the
NCUA will conduct a substantive
review in accordance with the criteria
and procedures described in the
Regulations. The NCUA reserves the
right to contact the Applicant during its
review for the purpose of clarifying or
confirming information contained in the
Application. If so contacted, the
Applicant must respond within the time
specified by the NCUA or the NCUA, in
its sole discretion, may decline the
application without further
consideration.
c. Evaluation: The evaluation criteria
are more fully described in § 705.7(c) of
the NCUA’s regulations. The NCUA will
evaluate each Application that receives
a substantive review on the four criteria
described in the regulation, this NOFO
and the applicable guideline: Financial
performance, compatibility, feasibility,
and examination information and
applicable concurrence. Each initiative,
due to its structure and impact, have
varying degrees of evaluation criteria
assigned which are reflected in the
guidelines for credit union’s
information. Overall, the evaluation
strategy consists of the following which
may be reduced or increased based on
award amount, initiative and/or risk.
i. Assessment of Impact: The
Compatibility criteria will take into
consideration the extent of community
need and projected impact of the
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2. Review and Selection Process for
Grants
a. Eligibility and Completeness
Review: The NCUA will review each
Application to determine whether it is
complete and that the Applicant meets
the eligibility criteria described in the
Regulations, this NOFO, and the grant
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Open All Year Round Until Funds are Exhausted.
funding on the Applicant’s members
and community.
ii. Effective Strategy: The Feasibility
criteria will take into consideration the
quality of the Applicant’s strategy and
its capacity to execute the strategy as
demonstrated by its past performance,
partnering relationships, and other
relevant factors.
iii. Evaluating Prior Award
Performance: For prior participants of
the CDRLF program, loans may not be
awarded if the participant: (1) Is
noncompliant with any active award; (2)
failed to make timely loan payments to
the NCUA during fiscal years prior to
the date of Application; and (3) had an
award deobligated (i.e. removal of
unused awarded funds) during fiscal
years prior to the date of Application.
d. Examination Information and
Applicable Concurrence: The NCUA
will not approve an award to a credit
union for which it’s NCUA regional
examining office or SSA, if applicable,
indicates it has safety and soundness
concerns. If the NCUA regional office or
SSA identifies a safety and soundness
concern, the NCUA, in conjunction with
the regional office or SSA, will assess
whether the condition of the Applicant
is adequate to undertake the activities
for which funding is requested, and the
obligations of the loan and its
conditions. The NCUA, in its sole
discretion, may defer decision on
funding an Application until the credit
union’s safety and soundness conditions
improve.
e. Funding Selection: The NCUA will
make its funding selections based on a
consistent scoring tier for each
Applicant. The NCUA will consider the
impact of the funding. In addition, the
NCUA may consider the geographic
diversity of the Applicants in its
funding decisions. When loan demand
is high, Applications will be ranked
based on the aforementioned.
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guidelines. An incomplete Application
or one that does not meet the eligibility
criteria will be declined without further
consideration.
b. Substantive Review: After an
Applicant is determined eligible and its
Application is determined complete, the
NCUA will conduct a substantive
review in accordance with the criteria
and procedures described in the
Regulations, this NOFO, and the grant
guidelines. The NCUA reserves the right
to contact the Applicant during its
review for the purpose of clarifying or
confirming information contained in the
Application. If so contacted, the
Applicant must respond within the time
specified by the NCUA or the NCUA, in
its sole discretion, may decline the
Application without further
consideration.
c. Evaluation and Scoring: The
evaluation criteria for each initiative is
fully described in the grant guidelines.
d. Input from Examiners: The NCUA
may not approve an award to a credit
union for which it’s NCUA regional
examining office or State Supervisory
Agency (SSA), if applicable, indicates it
has safety and soundness concerns. If
the NCUA regional office or SSA
identifies a safety and soundness
concern, CURE, in conjunction with the
regional office or SSA, will assess
whether the condition of the Applicant
is adequate to undertake the activities
for which funding is requested, and the
obligations of the grant and its
conditions. The NCUA, in its sole
discretion, may defer decision on
funding an Application until the credit
union’s safety and soundness conditions
improve.
e. Award Selection: The NCUA will
make its award selections based on a
consistent scoring system where each
Applicant will receive a ranking
position. The NCUA will also consider
the impact of funding and rank
Applications based on the factors listed
in the grant guidelines.
F. Federal Award Administration
1. Federal Award Notices
The NCUA will notify each Applicant
of its funding decision by email. In
addition, the NCUA will publish a press
release and post on its website a list of
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the successful awardees for grants.
Additional instructions for post-award
activities will be provided by email and
in other post-award materials.
Applicants that are approved for
funding will also receive instructions on
how to proceed with disbursement of
the award.
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2. Administrative and National Policy
Requirements
The specific terms and conditions
governing a CDRLF award will be
established in the program guidelines
for each initiative.
a. Grant Agreement: Each
Participating Credit Union under this
NOFO must enter into agreement with
the NCUA before the NCUA will
disburse the grant funds. The
Agreement will include the terms and
conditions of funding, including but not
limited to the: (i) Award amount; (ii)
grant award details; (iii) roles and
responsibilities; (iv) accounting
treatment; (v) signature pages; and (vi)
reporting requirements.
b. Loan Agreement: Each Participating
Credit Union under this NOFO must
enter into agreement with the NCUA
before the NCUA will disburse the
award funds. The agreement documents
include, for example, a promissory note,
loan agreement, repayment schedule,
and security agreement (if applicable).
The Agreement will include the terms
and conditions of funding, including
but not limited to the: (i) Award
amount; (ii) interest rate; (iii) repayment
requirements; (iv) accounting treatment;
(v) impact measures; and (vi) reporting
requirements.
c. Failure to Sign Agreement: The
NCUA, in its sole discretion, may
rescind an award if the Applicant fails
to sign and return the agreement or any
other requested documentation, within
the time specified by the NCUA.
d. Multiple Disbursements: The
NCUA may determine, in its sole
discretion, to fund a loan in multiple
disbursements. In such cases, the
process for disbursement will be
specified by the NCUA in the Loan
Agreement.
3. Reporting
a. Loans: The reporting requirements
are more fully described in § 705.9 of
the NCUA’s regulations. Annually, each
Participating Credit Union will submit a
report to the NCUA. The report will
address the Participating Credit Union’s
use of the loan funds; the impact of
funding; and explanation of any failure
to meet objectives for use of proceeds,
outcome, or impact. The NCUA, in its
sole discretion, may modify these
requirements. However, such reporting
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requirements will be modified only after
notice to affected credit unions.
Report Form: Applicable credit
unions will be notified regarding the
submission of the report form. A
Participating Credit Union is
responsible for timely and complete
submission of the report. The NCUA
will use such information to monitor
each Participating Credit Union’s
compliance with the requirements of its
loan agreement and to assess the impact
of the CDRLF loan.
b. Grants: All successful Applicants
are responsible for the timely and
complete submission of the post-grant
award activities. This includes, but it is
not limited to, signing the grant
agreement, submitting a project status
update, and completing a
reimbursement request.
Successful Applicants must submit a
reimbursement request in order to
receive the awarded funds. The
reimbursement requirements are
specific to each initiative. In general, the
reimbursement request will require
evidence of expenses, project related
documentation, a summary of project
accomplishments and outcomes, and a
certification form signed by a credit
union official (e.g., CEO, manager, or
Board Chairperson) authorized to
request the reimbursement and make
the certifications. The NCUA, in its sole
discretion, may modify these
requirements. In general, successful
Applicants are required to submit the
reimbursement request within the
expiration date specified in the approval
letter.
G. Agency Contacts
1. Methods of Contact
Further information can be found at
https://www.ncua.gov/services/Pages/
resources-expansion/grants-loans.aspx.
For questions email: National Credit
Union Administration, Office of Credit
Union Resources and Expansion at
CUREAPPS@ncua.gov.
2. Information Technology Support
People who have visual or mobility
impairments that prevent them from
using the NCUA’s website should call
(703) 518–6610 for guidance (this is not
a toll free number).
By the National Credit Union
Administration Board on May 24, 2018.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2018–11689 Filed 5–30–18; 8:45 am]
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POSTAL REGULATORY COMMISSION
[Docket No. CP2016–107]
New Postal Product
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing a
recent Postal Service filing for the
Commission’s consideration concerning
a negotiated service agreement. This
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: June 4, 2018.
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Docketed Proceeding(s)
I. Introduction
The Commission gives notice that the
Postal Service has filed request(s) for the
Commission to consider matters related
to negotiated service agreement(s). The
requests(s) may propose the addition or
removal of a negotiated service
agreement from the market dominant or
the competitive product list, or the
modification of an existing product
currently appearing on the market
dominant or the competitive product
list.
Section II identifies the docket
number(s) associated with each Postal
Service request, the title of each Postal
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request.1 For
each request, the Commission appoints
an officer of the Commission to
represent the interests of the general
public in the proceeding, pursuant to 39
U.S.C. 505 (Public Representative).
Section II also establishes comment
deadline(s) pertaining to each request.
The public portions of the Postal
Service’s request(s) can be accessed via
the Commission’s website (https://
1 While the Postal Service cites no specific
authority for its filing, the Commission construes
the request as filed under 39 CFR 3015.5 which
governs amendments to rates or classes not of
general applicability.
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]]>Agencies
[Federal Register Volume 83, Number 105 (Thursday, May 31, 2018)]
[Notices]
[Pages 25056-25060]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-11689]
=======================================================================
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NATIONAL CREDIT UNION ADMINISTRATION
[Catalog of Federal Domestic Assistance (CFDA) Number: 44.002]
Community Development Revolving Loan Fund
ACTION: Notice of Funding Opportunity (NOFO).
-----------------------------------------------------------------------
SUMMARY: The National Credit Union Administration (NCUA) is issuing
this notice to announce the availability of funding for Low-Income
Designated Credit Unions (LICUs) Applications for loans and technical
assistance grants under the Community Development Revolving Loan Fund
(CDRLF) program. The CDRLF program serves as a source of financial
support in the form of loans and technical assistance grants that
better enables LICUs to support the communities in which they operate.
All loans and technical assistance grants from multi-year funds made
under this NOFO are subject to funds availability and are at the NCUA's
discretion.
DATES:
Table 1--FY 2018 CDRLF Program Application Dates
------------------------------------------------------------------------
Application
Initiative periods Deadline
------------------------------------------------------------------------
General Grant Round............. July 1-August 18.. 11:59 p.m. Eastern
Time (ET).
Loan............................ Until Funds are N/A.
Exhausted.
------------------------------------------------------------------------
Table of Contents
A. Program Description
B. Federal Award Information
C. Eligibility Information
D. Application and Submission Information
E. Application Review Information
F. Federal Award Administration
G. Federal Awarding Agency
A. Program Description
1. Purpose
The purpose of the CDRLF program is to assist LICUs in providing
basic financial services to their members to stimulate economic
activities in their communities. Through the CDRLF program, the NCUA
provides financial support in the form of loans and technical
assistance grants to LICUs serving predominantly low-income members.
These funds help improve and expand the availability of financial
services to these members. The CDRLF program consists of Congressional
appropriations that are administered by the NCUA.
The NCUA will accept applications from LICUs for the initiatives
referenced in Table 2. The financial awards may be used for projects
that support the efforts of credit unions providing basic financial and
related services to residents in their communities; enhancing their
capacity to better serve their members and the communities in which
they operate.
Table 2--FY 2018 CDRLF Program Initiatives
------------------------------------------------------------------------
-------------------------------------------------------------------------
Initiative Names:
Digital Services and Security (General Grant Round).
Leadership Development (General Grant Round).
Underserved Outreach (General Grant Round).
Low-Cost Loan.
------------------------------------------------------------------------
More detailed information about the CDRLF program, including the
types of initiatives for the grant round, amount of funds available,
funding priorities, permissible uses of funds, funding limits,
deadlines and other pertinent details, are periodically published in
[[Page 25057]]
NCUA Letters to Credit Unions, in NCUA press releases and on the NCUA
website at https://www.ncua.gov/services/Pages/resources-expansion/grants-loans.aspx.
2. Regulations and Authority
Part 705 of the NCUA's regulations implements the CDRLF program. 12
CFR 705. A revised Part 705 was published on November 25, 2016. 81 FR
85112. Additional requirements are found at 12 CFR 701 and 741.
Applicants should review these regulations in addition to this NOFO.
Each capitalized term in this NOFO is more fully defined in the
regulations, program guidelines, and other application materials. For
the purposes of this NOFO, an Applicant is a Qualifying Credit Union
that submits a complete Application to the NCUA under the CDRLF
program. The NCUA will consider requests for funds consistent with the
purpose of the CDRLF program. 12 CFR 705.1.
Authority: 12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782,
1784, 1785 and 1786; 12 CFR 705.
B. Federal Award Information
The NCUA expects to award approximately $2 million in grants
through this NOFO. Approximately $5.3 million will be available for
loans under this NOFO, derived from prior-year appropriated and earned
funds. Monies for additional loans come from scheduled loan
amortizations. The NCUA reserves the right to: (i) Award more or less
than the amounts cited above; (ii) fund, in whole or in part, any, all,
or none of the applications submitted in response to this NOFO; and
(iii) reallocate funds from the amount that is anticipated to be
available under this NOFO to other programs, particularly if the NCUA
determines that the number of awards made under this NOFO is fewer than
projected.
Table 3 includes specific information about the funding available,
maximum award amounts, and application window for each CDRLF program
initiative. The specific terms and conditions governing a CDRLF award
will be established in the grant or loan agreement each Participating
Credit Union must sign prior to disbursement of funds.
Table 3--FY 2018 CDRLF Program Initiatives and Amounts
----------------------------------------------------------------------------------------------------------------
Total funding
Initiative Maximum award Application start Application end date available
amount date (million)
----------------------------------------------------------------------------------------------------------------
General Grant Round:
1. Digital Services and $10,000 July 1, 2018, 9:00 August 18, 2018, $2
Security. a.m. ET. 11:59 p.m. ET.
2. Leadership Development..... 10,000
3. Underserved Outreach....... 20,000
----------------------------------------------
Loan.............................. 500,000 Open until funds are exhausted 5.3
----------------------------------------------------------------------------------------------------------------
1. Additional Loan Initiative Information
The following are the general loan terms under the CDRLF program.
a. Maximum Loan Amount: The NCUA makes loans based on the financial
condition of the credit union. The applicable regulation does not
provide a maximum limit on loan applications for consideration, but in
practice the NCUA discourages loan applications of higher than $500,000
to mitigate risk. There is no minimum loan amount. The amount of the
loan will be based on the following factors:
Funds availability;
Credit worthiness of the credit union;
Financial need;
Demonstrated capability of credit union to provide
financial and related services to its members; and
Concurrence from the NCUA Regional Office and if
applicable, the State Supervisory Authority (SSA)
b. Maturity: Loans will generally mature in five years. A credit
union may request a shorter loan period, but in no case will the term
exceed five years.
c. Interest: The interest rate on loans is governed by the Loan
Interest Rate Policy, which can be found on the NCUA's website at
https://www.ncua.gov/services/Documents/interest-rate-policy.pdf. CDRLF
loans are generally offered at a fixed rate for the full term.
d. Repayment: All loans must be repaid to the NCUA regardless of
how they are accounted for by the Participating Credit Union.
1. Principal: The entire principal is due at maturity.
2. Interest: Interest is due in semi-annual payments beginning six
months after the initial distribution of the loan.
3. Principal Prepayment: There is no penalty for principal
prepayment. Principal prepayments may be made as often as monthly.
C. Eligibility Information
1. Eligible Applicants
This NOFO is open to credit unions that meet the compliance
requirements specified in 12 CFR 705. A credit union must have a Low-
Income Credit Union (LICU) designation, or equivalent in the case of a
Qualifying State-chartered Credit Union, in order to participate in the
CDRLF program. Requirements for obtaining the designation are found at
12 CFR 701.34.
2. Matching Funds (Only Applicable to Loan Applicants)
Part 705.5(g) of the NCUA's regulations describe the overall
requirements for matching funds. The NCUA, in its sole discretion, may
require matching funds of an Applicant, on a case-by-case basis
depending on the financial condition of the Applicant. The NCUA
anticipates that most Applicants will not be required to obtain
matching funds. However, each Applicant should address in the
Application its strategy for raising matching funds if the NCUA
determines matching funds are required (see 12 CFR 705 and the
Application for additional information).
a. Matching Funds Requirements: The specific terms and covenants
pertaining to any matching funds requirement will be provided in the
loan agreement of the Participating Credit Union. Following, are
general matching fund requirements. The NCUA, in its sole discretion,
may amend these requirements depending upon its evaluation of the
Applicant, but in no case will the amended requirements be greater than
the conditions listed below.
[[Page 25058]]
i. The amount of matching funds required must generally be in an
amount equal to the loan amount.
ii. Matching funds must be from non-governmental member or
nonmember share deposits.
iii. Any loan monies matched by nonmember share deposits are not
subject to the 20% limitation on nonmember deposits under Sec. 701.32
of the NCUA's regulations.
iv. Participating Credit Unions must maintain the outstanding loan
amount in the total amount of share deposits for the duration of the
loan. Once the loan is repaid, nonmember share deposits accepted to
meet the matching requirement are subject to Sec. 701.32 of the NCUA's
regulations.
b. Criteria for Requiring Matching Funds: The NCUA will use the
following criteria to determine whether to require an Applicant to have
matching funds as a condition of its loan.
CAMEL Composite Rating
CAMEL Management Rating
CAMEL Asset Quality Rating
Regional Director Concurrence
Net Worth Ratio
c. Documentation of Matching Funds: The NCUA may contact the
matching funds source to discuss the matching funds and the
documentation that the Applicant has provided. If the NCUA determines
that any portion of the Applicant's matching funds is ineligible under
this NOFO, the NCUA, in its sole discretion, may permit the Applicant
to offer alternative matching funds as a substitute for the ineligible
matching funds. In this case, the Applicant must provide acceptable
alternative matching funds documentation within 10 business days of the
NCUA's request.
3. Other Eligibility Requirements
a. Financial Viability: Applicants must meet the underwriting
standards established by the NCUA, including those pertaining to
financial viability, as set forth in the application and found in 12
CFR 705.7(c).
b. Compliance With Past Agreements: In evaluating funding requests
under this NOFO, the NCUA will consider an Applicant's record of
compliance with past agreements. The NCUA, in its sole discretion, will
determine whether to consider an Application from an Applicant with a
past record of noncompliance, including any deobligation (i.e. removal
of unused awards) of funds.
i. Default Status: If an Applicant is in default of a previously
executed agreement with the NCUA, the NCUA will not consider an
Application for funding under this NOFO.
ii. Undisbursed Funds: If an Applicant is a prior awardee under the
CDRLF program and has unused grant awards as of the date of
Application, the NCUA will request a narrative from the Applicant that
addresses the reason for its record of noncompliance. The NCUA, in its
sole discretion, will determine whether the reason is sufficient to
proceed with the review of the Application.
D. Application and Submission Information
1. Application Form
The application and related documents can be found on the NCUA's
website at https://www.ncua.gov/services/Pages/resources-expansion/grants-loans.aspx.
2. Minimum Application Content
A complete Application will consist of similar components for each
CDRLF program initiative. At a minimum, each initiative requires a
narrative response that describes how the CDRLF award will be used by
the Applicant. The NCUA reserves the right to waive this requirement
for initiatives deemed to be satisfactory without a written
description. If an initiative does not require a narrative response,
the NCUA will explain this in the program guidelines.
a. Data Universal Numbering System: The Data Universal Numbering
System (DUNS) number is a unique nine-character number used to identify
your organization. The federal government uses the DUNS number to track
how federal money is allocated. Applicants can obtain a DUNS number by
visiting the Dun & Bradstreet (D&B) website or calling 1-866-705-5711
to register or search for a DUNS number. Registering for a DUNS number
is FREE. The NCUA will not consider an Application that does not
include a valid DUNS number issued by Dun and Bradstreet (D&B). Such an
Application will be deemed incomplete and will be declined.
b. System for Award Management: All Applicants are required by
federal law to have an active registration with the federal
government's System for Award Management (SAM) prior to applying for
funding. SAM is a web-based, government-wide application that collects,
validates, stores, and disseminates business information about the
Federal Government's trading partners in support of the contract
awards, grants, and electronic payment processes. Applicants can
register by visiting www.sam.gov. An active SAM account status and CAGE
number is required to apply for the NCUA's CDRLF programs. The SAM
registration process is FREE. Applicants that have an existing
registration with SAM must recertify and maintain an active status
annually. The NCUA will not consider an Applicant that does not have an
active SAM status. Such an Application will be deemed incomplete and
will be declined.
c. Employer Identification Number: Each Application must include a
valid and current Employer Identification Number (EIN) issued by the
U.S. Internal Revenue Service (IRS). The NCUA will not consider an
Application that does not include a valid and current EIN. Such an
Application will be deemed incomplete and will be declined. Information
on how to obtain an EIN may be found on the IRS's website at
www.irs.gov.
d. Large Loans: An Applicant requesting a loan in excess of
$300,000 is required to complete an online application form that
contains additional narrative comments to support the request. In
addition, the NCUA may also require a business plan.
i. The business plan must: Describe the community's need for
financial products and services and the Applicant's need for funding;
summarize the services, financial products, and services provided by
the Applicant; describe the Applicant's involvement with other
entities; describe the credit union's marketing strategy to reach
members and the community; and include financial projections.
e. Non-Federally Insured Applicants: Each Applicant that is a non-
federally insured, state-chartered credit union must submit additional
application materials. These additional materials are more fully
described in Sec. 705.7(b) (3) of the NCUA's regulations and in the
Application.
i. Examination by the NCUA: Non-federally insured, state-chartered
credit unions must agree to be examined by the NCUA. The specific terms
and covenants pertaining to this condition will be provided in the loan
or grant agreement of the Participating Credit Union.
3. Submission Dates and Times
The application period for each CDRLF program initiative is
highlighted in Table 4. Applications must be submitted online in the
NCUA's web-based application system, CyberGrants, by the deadline in
order to be considered. Late Applications will not be considered under
any circumstance.
[[Page 25059]]
Table 4--Application Submission Dates and Times
------------------------------------------------------------------------
Application start Application end
Initiative date date
------------------------------------------------------------------------
Grant--Digital Services and July 1, 2018, 9:00 August 18, 2018,
Security. a.m. ET. 11:59 p.m. ET.
Grant--Leadership Development...
Grant--Underserved Outreach.....
---------------------------------------
Loan............................ Open All Year Round Until Funds are
Exhausted.
------------------------------------------------------------------------
4. Other Submission Requirements
Under this NOFO, Applications must be submitted online at https://www.cybergrants.com/ncua/applications.
E. Application Review Information
1. Review and Selection Process for Loans
a. Eligibility and Completeness Review: The NCUA will review each
Application to determine whether it is complete and that the Applicant
meets the eligibility requirements described in the Regulations and in
this NOFO. An incomplete Application or one that does not meet the
eligibility requirements will be declined without further
consideration.
b. Substantive Review: After an Applicant is determined eligible
and its Application is determined complete, the NCUA will conduct a
substantive review in accordance with the criteria and procedures
described in the Regulations. The NCUA reserves the right to contact
the Applicant during its review for the purpose of clarifying or
confirming information contained in the Application. If so contacted,
the Applicant must respond within the time specified by the NCUA or the
NCUA, in its sole discretion, may decline the application without
further consideration.
c. Evaluation: The evaluation criteria are more fully described in
Sec. 705.7(c) of the NCUA's regulations. The NCUA will evaluate each
Application that receives a substantive review on the four criteria
described in the regulation, this NOFO and the applicable guideline:
Financial performance, compatibility, feasibility, and examination
information and applicable concurrence. Each initiative, due to its
structure and impact, have varying degrees of evaluation criteria
assigned which are reflected in the guidelines for credit union's
information. Overall, the evaluation strategy consists of the following
which may be reduced or increased based on award amount, initiative
and/or risk.
i. Assessment of Impact: The Compatibility criteria will take into
consideration the extent of community need and projected impact of the
funding on the Applicant's members and community.
ii. Effective Strategy: The Feasibility criteria will take into
consideration the quality of the Applicant's strategy and its capacity
to execute the strategy as demonstrated by its past performance,
partnering relationships, and other relevant factors.
iii. Evaluating Prior Award Performance: For prior participants of
the CDRLF program, loans may not be awarded if the participant: (1) Is
noncompliant with any active award; (2) failed to make timely loan
payments to the NCUA during fiscal years prior to the date of
Application; and (3) had an award deobligated (i.e. removal of unused
awarded funds) during fiscal years prior to the date of Application.
d. Examination Information and Applicable Concurrence: The NCUA
will not approve an award to a credit union for which it's NCUA
regional examining office or SSA, if applicable, indicates it has
safety and soundness concerns. If the NCUA regional office or SSA
identifies a safety and soundness concern, the NCUA, in conjunction
with the regional office or SSA, will assess whether the condition of
the Applicant is adequate to undertake the activities for which funding
is requested, and the obligations of the loan and its conditions. The
NCUA, in its sole discretion, may defer decision on funding an
Application until the credit union's safety and soundness conditions
improve.
e. Funding Selection: The NCUA will make its funding selections
based on a consistent scoring tier for each Applicant. The NCUA will
consider the impact of the funding. In addition, the NCUA may consider
the geographic diversity of the Applicants in its funding decisions.
When loan demand is high, Applications will be ranked based on the
aforementioned.
2. Review and Selection Process for Grants
a. Eligibility and Completeness Review: The NCUA will review each
Application to determine whether it is complete and that the Applicant
meets the eligibility criteria described in the Regulations, this NOFO,
and the grant guidelines. An incomplete Application or one that does
not meet the eligibility criteria will be declined without further
consideration.
b. Substantive Review: After an Applicant is determined eligible
and its Application is determined complete, the NCUA will conduct a
substantive review in accordance with the criteria and procedures
described in the Regulations, this NOFO, and the grant guidelines. The
NCUA reserves the right to contact the Applicant during its review for
the purpose of clarifying or confirming information contained in the
Application. If so contacted, the Applicant must respond within the
time specified by the NCUA or the NCUA, in its sole discretion, may
decline the Application without further consideration.
c. Evaluation and Scoring: The evaluation criteria for each
initiative is fully described in the grant guidelines.
d. Input from Examiners: The NCUA may not approve an award to a
credit union for which it's NCUA regional examining office or State
Supervisory Agency (SSA), if applicable, indicates it has safety and
soundness concerns. If the NCUA regional office or SSA identifies a
safety and soundness concern, CURE, in conjunction with the regional
office or SSA, will assess whether the condition of the Applicant is
adequate to undertake the activities for which funding is requested,
and the obligations of the grant and its conditions. The NCUA, in its
sole discretion, may defer decision on funding an Application until the
credit union's safety and soundness conditions improve.
e. Award Selection: The NCUA will make its award selections based
on a consistent scoring system where each Applicant will receive a
ranking position. The NCUA will also consider the impact of funding and
rank Applications based on the factors listed in the grant guidelines.
F. Federal Award Administration
1. Federal Award Notices
The NCUA will notify each Applicant of its funding decision by
email. In addition, the NCUA will publish a press release and post on
its website a list of
[[Page 25060]]
the successful awardees for grants. Additional instructions for post-
award activities will be provided by email and in other post-award
materials. Applicants that are approved for funding will also receive
instructions on how to proceed with disbursement of the award.
2. Administrative and National Policy Requirements
The specific terms and conditions governing a CDRLF award will be
established in the program guidelines for each initiative.
a. Grant Agreement: Each Participating Credit Union under this NOFO
must enter into agreement with the NCUA before the NCUA will disburse
the grant funds. The Agreement will include the terms and conditions of
funding, including but not limited to the: (i) Award amount; (ii) grant
award details; (iii) roles and responsibilities; (iv) accounting
treatment; (v) signature pages; and (vi) reporting requirements.
b. Loan Agreement: Each Participating Credit Union under this NOFO
must enter into agreement with the NCUA before the NCUA will disburse
the award funds. The agreement documents include, for example, a
promissory note, loan agreement, repayment schedule, and security
agreement (if applicable). The Agreement will include the terms and
conditions of funding, including but not limited to the: (i) Award
amount; (ii) interest rate; (iii) repayment requirements; (iv)
accounting treatment; (v) impact measures; and (vi) reporting
requirements.
c. Failure to Sign Agreement: The NCUA, in its sole discretion, may
rescind an award if the Applicant fails to sign and return the
agreement or any other requested documentation, within the time
specified by the NCUA.
d. Multiple Disbursements: The NCUA may determine, in its sole
discretion, to fund a loan in multiple disbursements. In such cases,
the process for disbursement will be specified by the NCUA in the Loan
Agreement.
3. Reporting
a. Loans: The reporting requirements are more fully described in
Sec. 705.9 of the NCUA's regulations. Annually, each Participating
Credit Union will submit a report to the NCUA. The report will address
the Participating Credit Union's use of the loan funds; the impact of
funding; and explanation of any failure to meet objectives for use of
proceeds, outcome, or impact. The NCUA, in its sole discretion, may
modify these requirements. However, such reporting requirements will be
modified only after notice to affected credit unions.
Report Form: Applicable credit unions will be notified regarding
the submission of the report form. A Participating Credit Union is
responsible for timely and complete submission of the report. The NCUA
will use such information to monitor each Participating Credit Union's
compliance with the requirements of its loan agreement and to assess
the impact of the CDRLF loan.
b. Grants: All successful Applicants are responsible for the timely
and complete submission of the post-grant award activities. This
includes, but it is not limited to, signing the grant agreement,
submitting a project status update, and completing a reimbursement
request.
Successful Applicants must submit a reimbursement request in order
to receive the awarded funds. The reimbursement requirements are
specific to each initiative. In general, the reimbursement request will
require evidence of expenses, project related documentation, a summary
of project accomplishments and outcomes, and a certification form
signed by a credit union official (e.g., CEO, manager, or Board
Chairperson) authorized to request the reimbursement and make the
certifications. The NCUA, in its sole discretion, may modify these
requirements. In general, successful Applicants are required to submit
the reimbursement request within the expiration date specified in the
approval letter.
G. Agency Contacts
1. Methods of Contact
Further information can be found at https://www.ncua.gov/services/Pages/resources-expansion/grants-loans.aspx. For questions email:
National Credit Union Administration, Office of Credit Union Resources
and Expansion at [email protected].
2. Information Technology Support
People who have visual or mobility impairments that prevent them
from using the NCUA's website should call (703) 518-6610 for guidance
(this is not a toll free number).
By the National Credit Union Administration Board on May 24,
2018.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2018-11689 Filed 5-30-18; 8:45 am]
BILLING CODE P
