1775 Duke Street, Alexandria, VA 22314 Date: April 1999 Letter No.: 99-CU-07 To: Federally Insured Credit Unions Subject: Restructuring of the national Small
Credit Union Program (SCUP) DEAR BOARD OF DIRECTORS: You may be aware that the National Credit Union
Administration Board last month endorsed a restructuring of our national
small credit union program that has been operating in each of the
agency's six regions since 1994. The restructuring is intended to
provide conformity and consistency among the regions. The purpose of the national Small Credit Union
Program (SCUP) is to facilitate the Board's goals of promoting the
development of financially healthy small and low-income designated
credit unions, and encouraging the formation of newly chartered credit
unions. This national program will be monitored by the
Office of Community Development Credit Unions (OCDCU) at the NCUA
Central Office in Alexandria, Virginia. The OCDCU is responsible for
semi-annually reporting on the progress of the SCUP and developing
specialized training programs for NCUA's Economic Development Specialists
(EDSs) and Small Credit Union Specialists (SCUSs.) The Office will
also continue to administer the Community Development Revolving Loan
Program and, along with NCUA field staff, recommend credit unions
for inclusion in the program. Credit unions eligible for the Small Credit Union
Program include:
A core component of the SCUP will continue to
be the use of EDSs to provide mentoring, training and other technical
assistance to small credit unions that need and desire the extra attention.
Another important function of the EDSs is to match these small credit
unions with credit union mentors. Each regional office currently has one EDS working
in the field and will have the ability to add an additional EDS during
1999. The EDSs are experienced examiners who are specially trained
to provide a variety of assistance to small credit unions that are
in need of the additional guidance. In some cases, field examiners
may also be identified and designated as SCUSs. The major objectives of the national Small Credit
Union Program are to:
If your credit union qualifies for this program
and you would like to add your name to the list of participants, or
become a mentor to a small credit union, please contact your NCUA
regional office. If you would like to inquire about the advantages
of your credit union receiving the low-income designation, you may
also contact the Office of Community Development Credit Unions at
(703) 518-6610. Sincerely, /S/ NORMAN E. D'AMOURS |