Chartering and Field of Membership for Federal Credit Unions
NCUA is amending its chartering and field of membership manual to update its community chartering policies. These amendments include using objective and quantifiable criteria to determine the existence of a local community and defining the term ``rural district.'' The amendments clarify NCUA's marketing plan requirements for credit unions converting to or expanding their community charters and define the term ``in danger of insolvency'' for emergency merger purposes.
NCUA is amending a number of its regulations to make minor technical corrections. The amendments update the regulations and make other grammatically necessary corrections. The amendments are intended to provide helpful changes to NCUA's regulations.
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 [Fund's] Loan Program beginning in June 2010, subject to availability of funds. The Fund's total appropriation for loans is $13.4 million.