ALEXANDRIA, Va. (Jan. 28, 2021) – Eligible credit unions interested in the U.S. Department of the Treasury’s Emergency Capital Investment Program (opens new window) 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 now open online (opens new window). 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 [email protected]. The email’s subject line should read, “Emergency Capital Investment Program.” Please email technical questions about accessing the webinar to [email protected]. 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.