CNote LID Credit Unions.pdf

RESOURCES FOR LOW-INCOME DESIGNATED CREDIT UNIONS

LID credit unions have a spectrum of resources uniquely available to them, designed to increase their access to deposits thereby enabling them to make impactful loans, grow their visibility and membership, and create valuable industry partnerships.

Capital Access

NON-MEMBER AND OUTSIDE DEPOSITS FROM ANY SOURCE

LID credit unions are uniquely eligible to receive nonmember deposits up to $3M or 50% of total shares, whichever figure is greater.

COMMUNITY DEVELOPMENT REVOLVING LOAN FUND

In 2023, the CDRLF made approximately $3.5 million in awards available to LID credit unions, to support key development areas. The NCUA also provides for a revolving loan fund to assist LID credit unions’ efforts in supporting their members.

Statutory Cap on Member Business Lending

LID credit unions are not required to abide by the aggregate limit on net member business loan balances. As a result, they can be more flexible with the lending they do to small businesses, which can be a lifeline to the low-to-moderate income communities that they serve.

Visibility Benefits

Many LID credit unions are creating transformational impact for the under-resourced communities that they serve. There is overwhelming evidence that today’s consumers, workers, and investors are interested in that work and in the impact that LID credit unions do on a daily basis.

of consumers are motivated
to purchase from companies
committed to making the world
a better place

of investors state that efforts
to improve the environment
and society contribute to their
investment decisions

of U.S. consumers believe it is
more important than ever to buy
from companies that reflect
their values

Partnerships

Credit Union National Association

The national trade association for both state and federally chartered credit unions located in the United States.

CNote

A fintech platform committed to serving LID credit unions by providing a source of deposits through a network of corporate impact investors.

Other LID Credit Unions

Drawing from the experience of their peers, LID credit unions can pioneer new lending initiatives, products, and services to best serve their members.