Submitted by sevans on Tue, 01/13/2015 - 3:40pm

Secondary capital accounts for Community Development credit unions:

Federally insured credit unions designated as low-income may establish secondary capital accounts, which examiners should review for compliance with §701.34(b) of the NCUA Rules and Regulations.

Before offering secondary capital accounts, the credit union must adopt, and forward to the appropriate regional director, a written plan for use of the secondary capital account funds and subsequent liquidity needs to meet repayment requirements upon maturity of the accounts.

Documentation Type: