[Federal Register Volume 69, Number 250 (Thursday, December 30, 2004)]
[Notices]
[Page 78485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-28583]


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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 2005, 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 Small Credit Union Initiatives, 
1775 Duke Street, Alexandria, VA 22314-3428.

DATES: Applications may be submitted throughout calendar year 2005.

FOR FURTHER INFORMATION CONTACT: Tawana James, Director, Office of 
Small Credit Union Initiatives 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 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. Specific details regarding 
availability and requirements for technical assistance grants from the 
Fund will be published in a Letter to Credit Unions. Fund participation 
is limited to existing credit unions with an official ``low-income'' 
designation.
    This notice is published pursuant to Sec.  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 
23, 2004.
Mary F. Rupp,
Secretary, NCUA Board.
[FR Doc. 04-28583 Filed 12-29-04; 8:45 am]
BILLING CODE 7535-01-P