[Federal Register Volume 70, Number 246 (Friday, December 23, 2005)]
[Notices]
[Page 76330]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-7722]


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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 2006, 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 2006.

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, home ownership, and employment. The Fund makes available low 
interest loans in the aggregate amount of $300,000 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 and on NCUA's Web 
site at http://www.ncua.gov/. Fund participation is limited to existing 
credit unions with an official ``low-income'' designation.
    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, 2005.
Mary F. Rupp,
Secretary, NCUA Board.
[FR Doc. E5-7722 Filed 12-22-05; 8:45 am]
BILLING CODE 7535-01-P