Eligible credit unions interested in the U.S. Department of the Treasury’s Emergency Capital Investment Program can get valuable information during an upcoming webinar hosted by the National Credit Union Administration on February 3 starting at 2 p.m. Eastern.
Congress created this program as part of the Consolidated Appropriations Act, 2021 to help community-based financial institutions support consumers and local small businesses in low-income and underserved communities that have been disproportionately affected by the economic effects of the COVID-19 pandemic. A federally insured credit union must be certified as a Community Development Financial Institution or as a minority depository institution to participate in the program.
“The Emergency Capital Investment Program offers eligible credit unions resources to support members and communities negatively impacted by the pandemic,” NCUA Board Chairman Todd M. Harper said. “I encourage eligible credit unions to participate in this webinar and to learn more about the benefits of this program and how it can be used to support the communities they serve.”
The webinar will discuss the program’s eligibility and application requirements; the financial instrument and terms used for the investment, and whether credit unions can use the investment as secondary capital.
Registration for this 60-minute webinar is available here. Participants will be able to log into the webinar and view it on their computers or mobile devices using the registration link. They should allow pop-ups from this website.
Participants can submit questions anytime during the presentation or in advance by emailing WebinarQuestions@ncua.gov. The email’s subject line should read, “Emergency Capital Investment Program.” Please email technical questions about accessing the webinar to firstname.lastname@example.org. This webinar will be closed captioned and archived online approximately three weeks following the live event.
Expanding the availability of safe and affordable credit to meet the needs of diverse and underserved communities is a pillar of the NCUA’s financial inclusion initiative, ACCESS: Advancing Communities through Credit, Education, Stability, and Support. To learn more, please visit www.ncua.gov/access.
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov(opens new window), the NCUA also educates the public on consumer protection and financial literacy issues.
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