[Federal Register Volume 91, Number 130 (Thursday, July 9, 2026)]
[Notices]
[Pages 42562-42564]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2026-13835]
[[Page 42562]]
=======================================================================
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
Community Development Revolving Loan Fund
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice of funding opportunity.
-----------------------------------------------------------------------
SUMMARY: NCUA is issuing this Notice of Funding Opportunity (NOFO) to
announce the availability of loan funding for qualifying credit unions
through the Community Development Revolving Loan Fund (CDRLF). The
CDRLF provides financial support that helps credit unions support the
communities in which they operate.
SUPPLEMENTARY INFORMATION:
Table of Contents
Basic Information
Eligibility
Program Description
Eligible Activities
Application Contents and Format
Submission Requirements and Deadlines
Application Review Information
Award Notices
Post-Award Requirements and Administration
Other Information
Basic Information
Funding Opportunity Title: Community Development Revolving Loan
Fund (CDRLF) Loan Program.
Announcement Type: Initial Notice of Funding Opportunity (NOFO or
Notice).
Funding Opportunity Number: NCUA-CDRLF-2026L.
Assistance Listing Number: 44.002.
Funding Details: NCUA is announcing the availability of $13 million
in revolving loan funds available for CDRLF loan awards. NCUA may fund,
in whole or in part, any, all, or none of the applications submitted in
response to this NOFO. All loan awards made under this NOFO are subject
to availability of funds and made at NCUA's discretion. Available funds
will be revolved as loans are repaid and new awards are made.
Individual loans range from $50,000 to $500,000.
Number of Expected Awards Annually: 5-15.
Key Dates: This NOFO is effective on the date of publication in the
Federal Register. NCUA accepts applications on a rolling basis.
Applicants will be notified of NCUA's decision after the agency's
review is completed. The application review process will take
approximately 180 calendar days.
Executive Summary: Through the CDRLF NOFO, NCUA will provide
financial support in the form of loans to eligible credit unions to
modernize, build capacity, or extend outreach to low-income members (as
defined in 12 CFR 701.34) and the communities in which they operate.
Agency Contact Information: If you need to contact NCUA regarding
the CDRLF loan program, please email [email protected] or call (703)
518-6610. Please allow up to 72 business hours for a response.
Eligibility
This NOFO is open to low-income-designated credit unions that meet
the eligibility requirements defined in 12 CFR part 705 and further
detailed in the bulleted list below.
Requirements for a Loan Applicant
Applicants must have a current low-income designation
under 12 CFR 701.34 or 12 CFR 741.204. Applicants that are non-
federally insured credit unions must have a low-income designation from
a state regulator made under appropriate state standards with the
concurrence of NCUA. Services to low-income members must include, at a
minimum, offering share accounts and loans.
Applicants must be a credit union that may be, or has
agreed to be, examined by NCUA. See definition of Qualifying Credit
Union in 12 CFR 705.2. Each applicant that is a non-federally insured,
state-chartered credit union must submit additional application
materials and agree to be examined by NCUA. The additional materials
are more fully described in 12 CFR 705.7(b)(3). The specific terms and
covenants pertaining to the agreement to be examined by NCUA will be
provided in the award agreement.
Applicants must maintain an active registration with the
System for Award Management (SAM) at all times during which they have
an active federal award as a recipient or an application under
consideration by a federal agency. Additional details on SAM
registration are listed in the ``SAM section'' below.
Applicants must have and include a valid and current
Employer Identification Number (EIN) issued by the U.S. Internal
Revenue Service (IRS). NCUA will not consider an application that does
not include a valid and current EIN. Information on how to obtain an
EIN may be found on the IRS website.
Applicants shall not submit an application on behalf of
another organization. This prohibits any application being submitted by
a consultant, subsidiary, or parent company of a qualifying credit
union on behalf of a qualifying credit union. The qualifying credit
union must submit its own application.
Applicants must meet the loan award standards established
by NCUA, including those pertaining to financial viability, as set
forth in the application and defined in 12 CFR 705.7(b) and 705.7(c).
Applicants must submit applications that adhere to
applicable authorizing statutes, regulations, and administrative and
national policy requirements, including Executive Orders and other
Presidential directives as detailed in the ``Application Contents and
Format'' section.
Consistent with Executive Order 14151 and Executive Order
14173, applicants must not submit comparative statistics or other
demographical information on the basis of an individual's or group's
race, ethnicity, sex, or national origin. Consistent with Executive
Order 14218, applicants will adhere to the Personal Responsibility and
Work Opportunity Reconciliation Act of 1996.
Applicants must submit applications that meet the review
and criteria requirements in the ``Application Review Information''
section and the submission deadline requirements in the ``Submission
Requirements and Deadlines'' section.
Per 12 CFR 705.8, applicants must comply with additional
eligibility requirements set forth by NCUA for Emergency Loans, if
applicable.
Cost Sharing
Cost sharing is not required or requested for this funding
announcement; if NCUA chooses to require cost sharing or matching
funds, it will be announced through a press release and additional
guidance.
Program Description
The purpose of the CDRLF, as fully described in 12 CFR 705.1, is to
assist qualifying credit unions with providing basic financial services
to their members and to stimulate economic activities in their
communities.
Eligible Activities
Additional details on the eligible activities, performance metrics,
and specific ineligible costs can be found in the CDRLF Loan
Application Guidelines.
Low-Interest Loan ($500,000 maximum award amount):
Eligible credit unions can use loan funds to complete capacity building
activities required to grow and meet the unique needs of their members.
Eligible project
[[Page 42563]]
activities include, but are not limited to, expenses related to:
[cir] Development of new products or services for members,
including new or expanded share draft or credit card programs.
[cir] Partnership arrangements with community-based service
organizations or government agencies.
[cir] Loan programs, including, but not limited to, microbusiness
loans, payday loan alternatives, education loans, and real estate
loans.
[cir] Acquisition, expansion, or improvement of office space or
equipment, including branch facilities, ATMs, and electronic banking
facilities.
[cir] Operational programs.
Emergency Loan ($500,000 maximum award amount): Loans are
available to assist qualifying credit unions responding to an
unforeseen emergency such as natural disasters, unexpected events
outside of the credit union's control, or declared state or national
emergencies. Emergency Loan awards may differ in term, interest rate,
and allowable activities based on the emergency faced. The agency will
announce details for Emergency Loans through NCUA Express messages,
social media posts, and updates to our website.
Citations for Authorizing Statutes and Regulations
Authority: 12 U.S.C. 1772c-1, 1756, 1757(5)(D), and (7)(I), 1766,
1782, 1784, 1785 and 1786; 42 U.S.C. 9812, 9822, and 9910 (1981).
Regulations: 12 CFR part 705 is the governing regulation that sets
forth the program requirements for the CDRLF. Additional regulations
related to the low-income designation are found at 12 CFR 701.34 and
741.204. For the purposes of this NOFO, an ``applicant'' is a
Qualifying Credit Union that submits a complete application to NCUA
under the CDRLF.
NCUA encourages applicants to review the regulations, this NOFO,
the Executive Orders mentioned in this NOFO, the CDRLF Loan Program
Guidelines, and other program materials for a complete understanding of
the program. The CDRLF Loan Program Guidelines include the CDRLF Loan
Application Guidelines and the CDRLF Post-Award Guidelines. This NOFO,
the CDRLF Loan Program Guidelines, and other program materials can be
found on NCUA's website at https://ncua.gov/support-services/credit-union-resources-expansion/grants-loans/loans.
Application Contents and Format
Pre-applications, letters of intent, or white papers are not
required or requested.
All application materials must be submitted through NCUA's award
management system. Instructions for accessing NCUA's award management
system and submitting the loan application can be found in the CDRLF
Loan Application Guidelines.
Required application information is presented in the CDRLF Loan
Application Guidelines. Each loan application requires a narrative that
describes the applicant's proposed use of the CDRLF award to enhance
its products or services for its members and how these enhanced
products or services will support the membership and the community
served by the applicant, a project budget, and metrics used to measure
the impact of the project. The application must be certified by a
credit union official (such as CEO, Manager, or Board Chairperson)
authorized to enter agreements with NCUA on behalf of the credit union.
Applications that do not adhere to applicable authorizing statutes,
regulations, and administrative and national policy requirements,
including Executive Orders and other Presidential directives, will be
rejected.
Submission Requirements and Deadlines
All applications must be submitted using NCUA's award management
system. NCUA accepts applications on a continuous basis subject to
funding availability.
NCUA may alter submission requirements for Emergency Loans through
NCUA Express messages and press releases, as authorized under 12 CFR
705.8. Applications for these urgent projects must comply with the
terms stated in the applicable announcement.
Unique Entity Identifier and System for Award Management (SAM.gov)
Federal regulations require all CDRLF applicants to have an active
registration with SAM prior to applying for funding. SAM is a web-
based, government-wide application that collects, validates, stores,
and disseminates business information about the federal government's
trading partners in support of contract awards, grants, and electronic
payment processes. Applicants receive a Unique Entity Identifier (UEI)
upon registration in SAM and must provide this UEI with their
application. Applicants must continue to maintain an active SAM
registration with current information while they have active federal
awards or applications or plans under consideration by a federal
agency.
SAM users can register or recertify their account by following the
instructions for registration (https://sam.gov/content/entity-registration). There is no charge for either the SAM registration or a
recertification.
NCUA does not authorize any exemption from this active SAM
registration requirement under 2 CFR 25.110(c) or (d).
Submission Instructions
Prior to applying, applicants must be registered in NCUA's award
management system (https://ncua.gov/support-services/credit-union-resources-expansion/grants-loans). Applicants will also use that award
management system to access the application materials. Applications
must be submitted online through that system; applications will not be
accepted by mail or email. In the event of systems problems, contact
NCUA at [email protected].
Intergovernmental Review
The CDRLF loan program is not subject to Executive Order 12372,
``Intergovernmental Review of Federal Programs.''
Application Review Information
Review Criteria
NCUA will generally evaluate applications submitted by qualifying
credit unions in accordance with 12 CFR 705.7(c). The merit review is
conducted by NCUA personnel, and applications are analyzed based on
previous experience with the CDRLF program, recent examinations and
supervisory information, and the project proposed in the application.
Project Objective--The application will be evaluated based on how
well the proposed project objectives meet the purpose of the CDRLF
program as fully described in 12 CFR 705.1.
Project Budget--The budget must demonstrate that the applicant
clearly understands the expenses required to successfully complete the
project. The project budget must support the applicant's plan to
implement the project and its ability to make the interest payments and
eventually repay the loan.
Financial Viability and Examination Reports--Exam and supervisory
information may be used during the analysis of the application. NCUA
may assess a credit union's recent examinations or audit reports if a
reviewer deems it necessary. Factors
[[Page 42564]]
that will be considered include, but are not limited to, enforcement
actions, any ongoing supervisory concerns, supervisory or oversight
risks, declining financial position, planned merger activity, and
compliance risk. Exams may be used to determine the applicant's
financial health and its ability to successfully manage a CDRLF loan.
Per 12 CFR 705.7(c)(4), in evaluating a Qualifying Credit Union, NCUA
will consider all information provided by NCUA staff or state
supervisory authority staff that performed the Qualifying Credit
Union's most recent examination.
Review and Selection Process
NCUA will determine the loan award amount as applicable for each
application in accordance with the regulations at 12 CFR 705.7 and the
evaluation process further explained in the CDRLF Loan Application
Guidelines.
The agency will award funds to applications as noted above on a
first-come, first-serve basis as long as funds are available. Final
award decisions are made by the Director of the Office of Credit Union
Resources and Expansion (CURE).
Risk Review
NCUA will perform a risk assessment as required by 2 CFR 200.206.
Award Notices
NCUA will notify all applicants of a tentative funding decision by
email to the contacts designated in the application after completion of
its review. This notice does not obligate program funds but provides
instruction on how the Authorized Credit Union Official must review,
electronically certify, sign, and submit the Loan and Security
Agreement (Loan Agreement) and Promissory Note to accept the CDRLF
award by the provided deadline in the notice of Federal Award. Failure
to do so may result in the withdrawal of the loan award from the
awardee. NCUA will send a final notice of award once all requirements
are completed, and funds will be disbursed to the credit union.
Applicants that are approved for funding will also receive the
CDRLF Post-Award Guidelines. These guidelines include instructions on
how to proceed with the post-award activities and submission of
performance reports.
Post-Award Requirements and Administration
The maturity date, interest rate, and repayment requirements will
be set forth in the Loan Agreement, Promissory Note, and Amortization
Schedule at the time of award.
The interest rate at which the loan must be repaid is determined by
the CDRLF Loan Interest Rate Policy effective at the time of
application submission. The CDRLF Loan Interest Rate Policy can be
found at https://ncua.gov/support-services/credit-union-resources-expansion/grants-loans/loans.
Important: As a participating credit union (defined in 12 CFR
705.2), an awardee must maintain a current low-income designation
during the performance period of the loan. Other terms and conditions,
including administrative and National Policy Requirements, are in the
CDRLF Loan Application Guidelines, Promissory Note, and Loan Agreement.
Awardees that fail to comply with the loan terms and conditions
(including maintaining a current low-income designation) may be subject
to immediate repayment of any outstanding balances (12 CFR 705.5(f)).
Reporting
Awardees must follow annual reporting requirements stated in 12 CFR
705.9(b) and submit performance reports as detailed in the CDRLF Loan
Post-Award Guidelines.
All post-award activities are to be completed online using NCUA's
award management system.
Other Information
In addition to funding available under this NOFO, NCUA provides
funding to qualifying credit unions through the CDRLF Technical
Assistance Grant and Newly Chartered and Urgent Needs Grants. More
information can be found in the Grants and Loans section of the
agency's website.
Paperwork Reduction Act Requirements
The collection of information required by this notification of
funding opportunity is subject to the Paperwork Reduction Act of 1995,
44 U.S.C. 3501 et seq. The Paperwork Reduction Act of 1995 states that
no agency may conduct or sponsor, nor is the respondent required to
respond to, an information collection from 10 or more members of the
public unless it displays a currently valid Office of Management and
Budget (OMB) control number. Pursuant to the Paperwork Reduction Act,
the Community Development Revolving Loan Fund Programs have been
assigned the following OMB control number: 3133-0138.
By the National Credit Union Administration Board.
Ji Kwon,
Acting Secretary of the Board.
[FR Doc. 2026-13835 Filed 7-8-26; 8:45 am]
BILLING CODE 7535-01-P