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|Designation of Low-Income Status (APO/FPO Addresses)|
DCUC will continue to offer strong support for changes in NCUA regulations that allow APO/FPO address to be included in Low Income Credit Union designations.
To qualify as a low-income credit union (LICU), a majority of your membership must meet low-income thresholds defined in the NCUA Rules and Regulations. In general, for members to meet the low-income thresholds, their income must be at or below 80 percent of comparable median family income or median earnings for individuals in their geographic area, their state, or the nation.
A credit union with a low-income designation has access to many benefits that allow them to better serve their membership, especially those that may be traditionally un- or under-banked. Benefits include the ability to:
By allowing credit unions to include APO/FPO addresses in this calculation, it may push defense credit unions who are close to the 50% + 1 threshold the boost they need to qualify.