[Federal Register: January 8, 1999 (Volume 64, Number 5)]
[Notices]               
[Page 1243]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08ja99-104]

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NATIONAL CREDIT UNION ADMINISTRATION

 
Community Development Revolving Loan Program for Credit Unions

AGENCY: National Credit Union Administration.

ACTION: Notice of application period.

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SUMMARY: The National Credit Union Administration (NCUA) will accept 
applications for participation in the Community Development Revolving 
Loan Program for Credit Unions throughout calendar year 1999, subject 
to availability of funds. Application procedures for qualified low-
income credit unions are set forth in part 705, NCUA Rules and 
Regulations, 12 CFR part 705.

DATES: Applications may be submitted throughout calendar year 1999.

ADDRESSES: Applications for participation may be obtained from and 
should be submitted to: NCUA, Office of Community Development Credit 
Unions, 1775 Duke Street, Alexandria, VA 22314-3428.

FOR FURTHER INFORMATION CONTACT: The Office of Community Development 
Credit Unions at the above address or telephone (703) 518-6610.

SUPPLEMENTARY INFORMATION: Part 705 of the NCUA Rules and Regulations 
implements the Community Development Revolving Loan Program for Credit 
Unions. The purpose of the Program is to assist officially designated 
``low-income'' credit unions in providing basic financial services to 
residents in their communities which result in increased income, 
ownership and employment. The Program makes available low interest 
loans and deposits in amounts up to $300,000 in the aggregate to 
qualified participating ``low-income'' credit unions. Program 
participation is limited to existing credit unions with an official 
``low-income'' designation. Student credit unions are not eligible to 
participate in this program.
    This notice is published pursuant to Sec. 705.9 of the NCUA Rules 
and Regulations, 12 CFR 705.9, which states that NCUA will provide 
notice in the Federal Register when funds in the program are available.

    By the National Credit Union Administration Board on December 
17, 1998.
Becky Baker,
Secretary, NCUA Board.
[FR Doc. 99-366 Filed 1-7-99; 8:45 am]
BILLING CODE 7535-01-P