Find out what credit unions need to know about the Emergency Capital Investment Program

The NCUA is encouraging credit unions interested in learning more about the U.S. Treasury Department’s Emergency Capital Investment Program to join an “Ask the Regulators” webinar hosted by the agency and other federal financial regulators. Eligible credit unions interested in applying for the Emergency Capital Investment Program now have until July 6 to submit their applications.

The webinar, “An Overview of the Emergency Capital Investment Program” is set for 3 p.m. Monday, May 24.

Under the Emergency Capital Investment Program, the Treasury will provide up to $9 billion in capital directly to depository institutions that are certified CDFIs or MDIs, according to the NCUA. This funding may be used to provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers—especially those in low-income and underserved communities—that may be disproportionately impacted by the economic effects of the COVID-19 pandemic.

The Treasury will set aside $2 billion for CDFIs and MDIs with less than $500 million in assets and an additional $2 billion for CDFIs and MDIs with less than $2 billion in assets, according to the NCUA.

Interested participants can register for the webinar here. More information about the Emergency Capital Investment Program is available on the Treasury Department’s website.

Leave a Reply