Community Development Revolving Loan Fund for Credit Unions
The National Credit Union Administration (NCUA) will accept applications for participation in the Community Development Revolving Loan Fund's Loan Program throughout calendar year 2007, subject to availability of funds. Application procedures for qualified low-income credit unions are in NCUA Rules and Regulations.
Permissible Investments for Federal Credit Unions
NCUA is amending its investments rule to allow federal credit unions (FCUs) to enter into investment repurchase transactions in which the instrument consists of first-lien mortgage notes subject to certain limitations. The final rule expands FCU authority to invest in mortgage-related securities while addressing safety and soundness concerns associated with this new investment activity.