[Federal Register Volume 67, Number 249 (Friday, December 27, 2002)]
[Notices]
[Page 79153]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-32781]


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NATIONAL CREDIT UNION ADMINISTRATION


Community Development Revolving Loan Program for Credit Unions

AGENCY: National Credit Union Administration.

ACTION: Notice of application period.

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SUMMARY: The National Credit Union Administration (NCUA) will accept 
applications for participation in the Community Development Revolving 
Loan Fund's Loan Program throughout calendar year 2003, subject to 
availability of funds. Application procedures for qualified low-income 
credit unions are in NCUA Rules and Regulations.

ADDRESS: Applications for participation may be obtained from and should 
be submitted to: NCUA, Office of Credit Union Development, 1775 Duke 
Street, Alexandria, VA 22314-3428.

DATES: Applications may be submitted throughout calendar year 2003.

FOR FURTHER INFORMATION CONTACT: The Office of Credit Union Development 
at the above address or telephone (703) 518-6610.

SUPPLEMENTARY INFORMATION: Part 705 of the NCUA Rules and Regulations 
implements the Community Development Revolving Loan Program for Credit 
Unions. The purpose of the Program is to assist officially designated 
``low-income'' credit unions in providing basic financial services to 
residents in their communities that result in increased income, 
ownership, and employment. The Program makes available low interest 
loans in amounts up to $300,000 in the aggregate to qualified 
participating ``low-income'' credit unions. Program participation is 
limited to existing credit unions with an official ``low-income'' 
designation. Student credit unions are not eligible to participate in 
this Program.
    This notice is published pursuant to section 705.9 of the NCUA 
Rules and Regulations that states NCUA will provide notice in the 
Federal Register when funds in the Program are available.

    By the National Credit Union Administration Board on December 
19, 2002.
Becky Baker,
Secretary, National Credit Union Administration Board.
[FR Doc. 02-32781 Filed 12-26-02; 8:45 am]
BILLING CODE 7535-01-P