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Ex. AGY-FED-FINANCIAL-042 Context (guidance or announcement) Primary source read

Letter to Credit Unions 20-CU-16

Low-Income Designations: Qualification of Military Personnel

NCUA · United States; National Credit Union Administration (federal) (Federal)

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The COVID Project
Context, not an order

This record is guidance or an announcement kept for context. It is not counted among the orders in force.

The record

Jurisdiction
United States; National Credit Union Administration (federal)
Level
Federal
Authority
12 C.F.R. § 701.34(a)
Issued
2020-05-01 May 1, 2020
Effective
May 2020 (NCUA news release of May 7, 2020) (read as 2020-05-07)
End
Permanent methodology change (read as 2021-09-30)
In force
May 7, 2020 to Sept. 30, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Other
Addressees
  • federally insured credit unions serving military personnel
Functions reached
  • OP regulatory status (LICU powers: secondary capital, member business loan cap exemption, grants)
  • BL
  • CB
Character
context
Collection
Federal financial regulators AGY-FED-FINANCIAL

Operative words

[The NCUA is changing its approach to] determining whether a credit union qualifies for the low-income designation by fully considering military personnel. The new approach will provide full benefit to credit unions [serving members with APO and FPO addresses].

Enforcement

12 C.F.R. § 701.34

Notes

The 'LICU action' of the assignment: an NCUA measure announced as pandemic relief that expanded low-income designations (and the associated lending flexibility) to credit unions serving military members

Retrieval note

Month-dated letter (May 2020); live NCUA page. Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.