[Federal Register Volume 68, Number 239 (Friday, December 12, 2003)]
[Notices]
[Page 69426]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30752]


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NATIONAL CREDIT UNION ADMINISTRATION


Community Development Revolving Loan Fund 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 2004, subject to 
availability of funds. Application procedures for qualified low-income 
credit unions are in NCUA Rules and Regulations.

ADDRESSES: 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 2004.

FOR FURTHER INFORMATION CONTACT: Anthony LaCreta, Director, Office of 
Credit Union Development at the above address or telephone (703s) 518-
6610.

SUPPLEMENTARY INFORMATION: Part 705 of the NCUA Rules and Regulations 
implements the Community Development Revolving Loan Fund (Fund) for 
Credit Unions. The purpose of the Fund 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 Fund makes available low interest 
loans in amounts up to $300,000 in the aggregate to qualified 
participating ``low-income'' designated credit unions. Interest rates 
are currently set at one percent. Fund 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 4, 
2003.
Becky Baker,
Secretary, NCUA Board.
[FR Doc. 03-30752 Filed 12-11-03; 8:45 am]
BILLING CODE 7535-01-P