Eligibility Guidelines


Credit unions must meet the following general criteria to be eligible for an investment from the Federation’s Community Development Investment Program:

  1. Membership in the Federation: 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. New members are eligible to apply for investments. Learn about joining the Federation.
  2. Low-Income Designation: As required by NCUA Regulations, in order to receive any Federation deposit product or Secondary Capital, 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. Low-income designation is not required to sell mortgages to the CDCU Mortgage Center.
  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. Application Submission: Credit unions must submit an application for each investment offering in which they are interested. Applications for non-member and nominee deposits are received and approved on a rolling basis. Applications for risk-sharing deposits and secondary capital are accepted on a continuous basis but are considered for approval only at the meetings of the Community Development Investments Committee. These meetings take place three times each year, generally in the spring, summer, and fall. The Federation’s membership is notified of the date of the next meeting and the date by which completed applications must be submitted for consideration at that meeting (approximately five weeks prior to the Committee meeting). Applications received late are considered at the following meeting of the Committee.

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