According to statistics provided by the NCUA, the vast majority of low-income credit unions aren't exceeding the statutory member business lending cap of 12.25% of assets, even though unlimited MBLs are a much-publicized benefit of LICU status.
Original low-income credit unions that were approved for LICU status before the agency announced a new "opt-in" program Aug. 7 reported 5.8% of their assets were in member business loans as of March 31.
Comparatively, the 1,003 credit unions that received the opt-in offer from NCUA report member business loans represent 2.4% of their assets.
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