NCUA FOM – If the credit union is using CDFI to determine a “qualified underserved area” does the said credit union still need to provide specifics regarding the depository/non-depository facilities in that area?

Compliance > NCUA
Q:  If the credit union is using CDFI to determine a “qualified underserved area” does the said credit union still need to provide specifics regarding the depository/non-depository facilities in that area?    
 
A:  The credit union does not need to provide specific information on depository and non-depository facilities in the area.  NCUA has resources to identify these institutions and will use that information to perform the Depository Facilities Test.  You can email DCAmail@ncua.gov or call 703-518-1150 if you have questions on this process.   
 
 
 
ADDITIONAL INFORMATION:
This information was obtained from the NCUA’s website, Chartering and Field of Membership Resources page -    https://www.ncua.gov/services/Pages/field-of-membership-chartering.aspx
 

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