§ 705.1. Authority, purpose, and scope.
266 words·~1 min read·
/us/cfr/t12/s§ 705.1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This part 705 is issued by the National Credit Union Administration
(NCUA)under section 130 of the Federal Credit Union Act, 12 U.S.C. 1772c-1, which implements the Community Development Credit Union Revolving Loan Fund Transfer Act (Pub. L. 99-609, 100 Stat. 3475 (Nov. 6, 1986)).
(b)This part describes how NCUA makes money available to credit unions from its Community Development Revolving Loan Fund (Fund). NCUA administers the Fund and makes both loans and technical assistance grants to credit unions in accordance with the eligibility criteria and other qualifications, subject to the terms and conditions set out in this part. All loans and technical assistance grants made under this part are subject to funds availability and NCUA's discretion.
(c)NCUA's policy is to revolve the loan funds to credit unions as often as practical in order to achieve maximum economic impact on as many credit unions as possible.
(d)The financial awards provided to credit unions through the Fund will better enable them to support the communities in which they operate; provide basic financial services to low-income residents of these communities, and result in more opportunities for the residents of those communities to improve their financial circumstances.
(e)The Fund is intended to support the efforts of credit unions through loans and technical assistance grants needed for:
(1)Providing basic financial and related services to residents in their communities;
(2)Enhancing their capacity to better serve their members and the communities in which they operate; and
(3)Responding to emergencies. [76 FR 67587, Nov. 2, 2011, as amended at 81 FR 85112, Nov. 25, 2016]
Connections17 cite this · traces to 2
Cited by 17 sections · top 15
register
- NoticesNotice of Funding Opportunity
- NoticesNotice of Funding Opportunity (NOFO)
- NoticesNotice of Funding Opportunity
- Rules and RegulationsNotice of Funding Opportunity
- NoticesNotice of funding opportunity
- NoticesNotice of funding opportunity
- NoticesNotice of Funding Opportunity
- NoticesNotice of Funding Opportunity
- NoticesNotice of Funding Opportunity
- NoticesNotice of funding opportunity
- Proposed RulesProposed rule
- NoticesNotice of funding opportunity
- Rules and RegulationsFinal rule
- NoticesNotice of Funding Opportunity
- NoticesNotice of funding opportunity
Traces to 2 documents
1 reference not yet in our index
- Pub. L. 99-609
Citation graph
cites case law
§ 705.1
Authority, purpose, and scope.
Fed. Reg.×17
Pub. L.Pub. L. 99-609
Cites 3Cited by 17 across 1 source