CDCUs must meet the following general criteria in order to be eligible for an investment from Community Development Investments (unless otherwise authorized):

1. Membership in the Federation -  Recipient credit unions must be policy members in "good standing" of the Federation. A member in good standing is not in arrears to the Federation for any payment of funds, including interest, principal, fees, or dues, or any reports or other required information. Although investments are awarded only to members, applications are accepted from members and non-members. Immediately upon joining the Federationa member is eligible to receive insured deposits and IDA grants (when available). However, new policy members must wait for six months before receiving a Jumbo Deposit, a Secondary Capital loan, a Micro-enterprise Collateralization Deposit, an Equity Grant, or a Predatory Relief and Intervention Deposit (PRIDETM).

2. Low-Income Designation -  As required by NCUA Regulations, in order to receive certain investments, recipient credit unions must have state or federal low-income designation. In the case of state-chartered applicants, credit unions with an equivalent designation from the corresponding state regulatory agency that is acceptable to the NCUA, will be eligible.

3. Solvency - Recipient credit unions must be solvent at the time of the capital disbursement, except in those cases where the investment is made in conjunction with NCUA Section 208 assistance and the Federation is given written assurance by NCUA that our investments will not be seized to make the credit union solvent prior to the expiration of the Section 208 assistance.

4. Start-up and Newly Chartered CDCUs - will receive consideration for Community Development Investments financial products.

5. Application Submission - Interested CDCUs must submit applications for each investment. Applications are accepted on a continuous basis, but, with the exception of insured deposits, are considered for approval only at the meetings of the Community Development Investments Committee. (Presently, these meetings take place four times per year.) The Federation's membership is notified  of the date of the next meeting and the date by which the completed application is due (approximately five weeks prior to the Committee meeting). Applications received late are to be considered at the following meeting of the Committee. Applications for non-member and nominee deposits are received and approved on a rolling basis.