82 FR 22854 - Office of Small Credit Union Initiatives (OSCUI) Loan Program Access for Credit Unions

NATIONAL CREDIT UNION ADMINISTRATION

Federal Register Volume 82, Issue 95 (May 18, 2017)

Page Range		22854-22857
FR Document		2017-10088
The National Credit Union Administration (NCUA) is issuing a Notice of Funding Opportunity (NOFO) to invite eligible credit unions to submit applications for participation in the OSCUI Loan Program (a.k.a. Community Development Revolving Loan Fund (CDRLF)), subject to funding availability. The OSCUI Loan Program serves as a source of financial support, in the form of loans, for credit unions serving predominantly low-income members. It also serves as a source of funding to help low-income designated credit unions (LICUs) respond to emergencies arising in their communities.
Federal Register, Volume 82 Issue 95 (Thursday, May 18, 2017)
[Federal Register Volume 82, Number 95 (Thursday, May 18, 2017)]
[Notices]
[Pages 22854-22857]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-10088]


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NATIONAL CREDIT UNION ADMINISTRATION


Office of Small Credit Union Initiatives (OSCUI) Loan Program 
Access for Credit Unions

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice of funding opportunity.

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SUMMARY: The National Credit Union Administration (NCUA) is issuing a 
Notice of Funding Opportunity (NOFO) to invite eligible credit unions 
to submit applications for participation in the OSCUI Loan Program 
(a.k.a. Community Development Revolving Loan Fund (CDRLF)), subject to 
funding availability. The OSCUI Loan Program serves as a source of 
financial support, in the form of loans, for credit unions serving 
predominantly low-income members. It also serves as a source of funding 
to help low-income designated credit unions (LICUs) respond to 
emergencies arising in their communities.

Table of Contents

A. Program Description
B. Federal Award Information
C. Eligibility Information
D. Application and Submission Information
E. Application Review Information
F. Federal Award Administration
G. Federal Awarding Agency

A. Program Description

    The purpose of the OSCUI Loan Program is to assist low-income 
designated credit unions (LICU) in providing basic financial services 
to their members to stimulate economic activities in their communities. 
Through the OSCUI Loan Program, NCUA provides financial support in the 
form of loans to LICUs. These funds help improve and expand the 
availability of financial services to these members. The OSCUI Loan 
Program also serves as a source of funding to help LICUs respond to 
emergencies. The Loan Program consists of Congressional appropriations 
that are administered by OSCUI, an office of the NCUA.
    Permissible Uses of Funds: NCUA will consider requests for funds 
consistent with the purpose of the OSCUI Loan Program. 12 CFR 705.1. A 
non-exhaustive list of examples of permissible uses or projects of loan 
proceeds are contained in Sec.  705.4 of the regulation, and include: 
(i) Development of new products or services for members, including new 
or expanded share draft or credit card programs; (ii) Partnership 
arrangements with community-based service organizations or government 
agencies; (iii) Loan

[[Page 22855]]

programs, including, but not limited to, microbusiness loans, payday 
loan alternatives, education loans, and real estate loans; (iv) 
Acquisition, expansion, or improvement of office space or equipment, 
including branch facilities, ATMs, and electronic banking facilities; 
and (v) Operational programs such as security and disaster recovery.
    NCUA will consider other proposed uses of funds that in its sole 
discretion it determines are consistent with the purpose of the OSCUI 
Loan Program, the requirements of the regulations, and this NOFO.
    Regulation: Part 705 of NCUA's regulations implements the OSCUI 
Grant and Loan Program. 12 CFR 705. A revised Part 705 was published on 
November 25, 2016. 81 FR 85112. Additional requirements are found at 12 
CFR 701 and 741. Applicants should review these regulations in addition 
to this NOFO. Each capitalized term in this NOFO is more fully defined 
in the regulations, the loan application, and the loan agreement. For 
the purposes of this NOFO, an Applicant is a Qualifying Credit Union 
that submits a complete Application to NCUA under the OSCUI Loan 
Program.

B. Federal Award Information

    OSCUI loans are made to LICUs that meet the requirements in the 
program regulation and this NOFO, subject to funds availability. OSCUI 
loans are generally made at lower than market interest rates.
    Congress has not made an appropriation to the OSCUI Loan Program 
for Fiscal Years 2016-2017. NCUA anticipates that approximately $3.2 
million will be available for loans under this NOFO, derived from 
prior-year appropriated and earned funds. Monies for additional loans 
come from scheduled loan amortizations. NCUA reserves the right to: (i) 
Award more or less than the amount cited above; (ii) fund, in whole or 
in part, any, all, or none of the applications submitted in response to 
this NOFO; and (iii) reallocate funds from the amount that is 
anticipated to be available under this NOFO to other programs, 
particularly if NCUA determines that the number of awards made under 
this NOFO is fewer than projected.
    The specific terms and conditions governing a loan will be 
established in the loan documents each Participating Credit Union will 
sign prior to disbursement of funds. The following are the general loan 
terms under the program
    1. Maximum Loan Amount: NCUA makes loans based on the financial 
condition of the credit union. The applicable regulation does not 
provide a maximum limit on loan applications for consideration, but in 
practice NCUA discourages loan applications of higher than $500,000 to 
mitigate risk. There is no minimum loan amount.
    The amount of the loan will be based on the following factors:
     Funds availability.
     Credit worthiness of the credit union.
     Financial need.
     Demonstrated capability of credit union to provide 
financial and related services to its members.
     Concurrence from the Region and/or the applicable State 
Supervisory Authority (SSA).
    2. Dates: The application period corresponds to the date of this 
NOFO and is open until funds are exhausted.
    3. Maturity: Loans will generally mature in five years. A credit 
union may request a shorter loan period, but in no case will the term 
exceed five years.
    4. Interest: The interest rate on loans is governed by the Loan 
Interest Rate Policy, which can be found on NCUA's Web site at https://www.ncua.gov/services/Pages/small-credit-union-learning-center/services/grants-loans.aspx.
    5. Repayment: All loans must be repaid to NCUA regardless of how 
they are accounted for by the Participating Credit Union.
    (a) Principal: The entire principal is due at maturity.
    (b) Interest: Interest is due in semi-annual payments beginning six 
months after the initial distribution of the loan.
    (c) Principal Prepayment: There is no penalty for principal 
prepayment. Principal prepayments may be made as often as monthly.

C. Eligibility Information

    The regulations specify the requirements a credit union must meet 
in order to be eligible to apply for assistance under this NOFO. See 12 
CFR 705. Following are additional requirements for participating in the 
Loan Program under this NOFO.
    1. Eligible Applicants: A credit union must have a Low-Income 
Credit Union (LICU) designation, or equivalent in the case of a 
Qualifying State-chartered Credit Union, in order to participate in the 
OSCUI Grant and Loan Program. Requirements for obtaining the 
designation are found at 12 CFR 701.34.
    2. Matching Funds: Part 705.5(g) of NCUA's regulations describe the 
overall requirements for matching funds. NCUA, in its sole discretion, 
may require matching funds of an Applicant, on a case-by-case basis 
depending on the financial condition of the Applicant. NCUA anticipates 
that most Applicants will not be required to obtain matching funds. 
However, each Applicant should address in the Application its strategy 
for raising matching funds if NCUA determines matching funds are 
required (see 12 CFR 705 and the Application for additional 
information).
    (a) Matching Funds Requirements: The specific terms and covenants 
pertaining to any matching funds requirement will be provided in the 
loan agreement of the Participating Credit Union. Following, are 
general matching fund requirements. NCUA, in its sole discretion, may 
amend these requirements depending upon its evaluation of the 
Applicant, but in no case will the amended requirements be greater than 
the conditions listed below.
    (i) The amount of matching funds required must generally be in an 
amount equal to the loan amount.
    (ii) Matching funds must be from non-governmental member or 
nonmember share deposits.
    (iii) Any loan monies matched by nonmember share deposits are not 
subject to the 20% limitation on nonmember deposits under Sec.  701.32 
of NCUA's regulations.
    (iv) Participating Credit Unions must maintain the outstanding loan 
amount in the total amount of share deposits for the duration of the 
loan. Once the loan is repaid, nonmember share deposits accepted to 
meet the matching requirement are subject to Sec.  701.32 of NCUA's 
regulations.
    (b) Criteria for Requiring Matching Funds: NCUA will use the 
following criteria to determine whether to require an Applicant to have 
matching funds as a condition of its loan.
    (i) CAMEL Composite Rating.
    (ii) CAMEL Management Rating.
    (iii) CAMEL Asset Quality Rating.
    (iv) Regional Director Concurrence.
    (v) Net Worth Ratio.
    (c) Documentation of Matching Funds: NCUA may contact the matching 
funds source to discuss the matching funds and the documentation that 
the Applicant has provided. If NCUA determines that any portion of the 
Applicant's matching funds is ineligible under this NOFO, NCUA, in its 
sole discretion, may permit the Applicant to offer alternative matching 
funds as a substitute for the ineligible matching funds. In this case: 
(i) The Applicant must provide acceptable alternative matching funds 
documentation within 10 business days of NCUA's request.
    3. Other Eligibility Requirements:
    (a) Financial Viability: Applicants must meet the underwriting 
standards established by NCUA, including those pertaining to financial 
viability, as set

[[Page 22856]]

forth in the application and found in 12 CFR 705.7(c).
    (b) Compliance With Past Agreements: In evaluating funding requests 
under this NOFO, NCUA will consider an Applicant's record of compliance 
with past agreements, including any deobligation of funds. NCUA, in its 
sole discretion, will determine whether to consider an Application from 
an Applicant with a past record of noncompliance, including any 
deobligation (i.e. removal of unused awards) of funds.
    (i) Default Status: If an Applicant is in default of a previously 
executed agreement with NCUA, NCUA will not consider an Application for 
funding under this NOFO.
    (ii) Undisbursed Funds: NCUA may not consider an Application if the 
Applicant is a prior awardee under the OSCUI Grant Program and has 
unused grant awards as of the date of Application.

D. Application and Submission Information

    1. Application Form: The application and related documents can be 
found on NCUA's Web site at https://www.ncua.gov/services/Pages/small-credit-union-learning-center/services/grants-loans.aspx.
    2. Minimum Application Content: Each Applicant must complete and 
submit information regarding the applicant and requested funding. In 
addition, applicants will be required to certify applications prior to 
submission.
    (a) DUNS Number: NCUA will not consider an Application that does 
not include a valid Data Universal Numbering System (DUNS) number 
issued by Dun and Bradstreet (D&B). Such an Application will be deemed 
incomplete and will be declined. See Section 3 for additional 
information.
    (b) System for Award Management (SAM): All Applicants are required 
by federal law to have an active registration with the federal 
government's System for Award Management prior to applying for funding. 
NCUA will not consider an Applicant that does not have an active SAM 
status. Such an Application will be deemed incomplete and will be 
declined. See Section 3 for additional information.
    (c) Employer Identification Number: Each Application must include a 
valid and current Employer Identification Number (EIN) issued by the 
U.S. Internal Revenue Service (IRS). NCUA will not consider an 
application that does not include a valid and current EIN. Such an 
Application will be deemed incomplete and will be declined. Information 
on how to obtain an EIN may be found on the IRS's Web site at 
www.irs.gov.
    (d) Narrative Responses: Each Application must include the 
narratives listed below. Applicants must adhere to character 
limitations contained in the Application. NCUA will not consider 
narrative comments beyond the limits specified. Additionally, NCUA will 
only review information requested in the Application and will not 
consider supplemental attachments that have not been requested in this 
NOFO or the Application.
    (i) Use of Funds: A narrative describing how it intends to use the 
loan proceeds. The narrative should demonstrate that the loan will 
enhance the products and services the credit union provides to its 
members. It also should describe how those enhanced products and 
services will support the economic development of the community served 
by the credit union.
    (ii) Matching Funds: A narrative describing its strategy for 
raising matching funds from non-federal sources if matching funds are 
required.
    (e) Large Loans: An Applicant requesting a loan in excess of 
$300,000 is required to complete an online application form that 
contains additional narrative comments supporting such request. The 
additional narrative consists of a business plan.
    (i) Business Plan: The business plan must: describe the community's 
need for financial products and services and the Applicant's need for 
funding; summarize the services, financial products, and services 
provided by the Applicant; describe the Applicant's involvement with 
other entities; describe the credit union's marketing strategy to reach 
members and the community; and include financial projections.
    (f) Non-Federally Insured Applicants:
    (i) Additional Application Requirements: Each Applicant that is a 
non-federally insured, state-chartered credit union must submit 
additional application materials. These additional materials are more 
fully described in Sec.  705.7(b) (3) of NCUA's regulations and in the 
Application.
    (ii) Examination by NCUA: Non-federally insured, state-chartered 
credit unions must agree to be examined by NCUA. The specific terms and 
covenants pertaining to this condition will be provided in the loan 
agreement of the Participating Credit Union.
    3. Dun and Bradstreet Universal Numbering System (DUNS) Number and 
System for Award Management (SAM): In accordance with Office of 
Management and Budget, Uniform Administrative Requirements, Cost 
Principles, and Audit Requirements for Federal Awards (2 CFR Chapter I, 
Chapter II, part 200, et al.), credit unions are required to: (i) Be 
registered in the System for Award Management (SAM) before submitting 
its application; (ii) provide a valid Data Universal Numbering System 
(DUNS) number issued by Dun and Bradstreet (D&B); and (iii) continue to 
maintain an active SAM registration with current information at all 
times during which it has an active Federal award or an application or 
plan under consideration. NCUA will not consider an Application that 
does not include a valid DUNS number and an active SAM status. Such an 
Application will be deemed incomplete and will be declined. Information 
on how to obtain a DUNS number may be found on D&B's Web site at http://fedgov.dnb.com/webform or by calling D&B, toll-free, at 1-866-705-
5711. Information on how to register for SAM may be found on SAM's Web 
site at https://www.sam.gov.
    4. Submission Dates and Times: The application period corresponds 
to the dates of this NOFO and is open until funds are exhausted.
    5. Other Submission Requirements: Under this NOFO, Applications 
must be submitted online at http://www.cybergrants.com/ncua.

E. Application Review Information

    1. Review and Selection Process:
    (a) Eligibility and Completeness Review: NCUA will review each 
Application to determine whether it is complete and that the Applicant 
meets the eligibility requirements described in the Regulations and in 
this NOFO. An incomplete Application or one that does not meet the 
eligibility requirements will be declined without further 
consideration.
    (b) Substantive Review: After an Applicant is determined eligible 
and its Application is determined complete, NCUA will conduct a 
substantive review in accordance with the criteria and procedures 
described in the Regulations and this NOFO. NCUA reserves the right to 
contact the Applicant during its review for the purpose of clarifying 
or confirming information contained in the Application. If so 
contacted, the Applicant must respond within the time specified by NCUA 
or NCUA, in its sole discretion, may decline the application without 
further consideration.
    (c) Evaluation: The evaluation criteria are more fully described in 
Sec.  705.7(c) of NCUA's regulations. NCUA will evaluate each 
Application that receives a substantive review on the four criteria 
described in the regulation: financial

[[Page 22857]]

performance, compatibility, feasibility, and examination information 
and applicable concurrence.
    (i) Assessment of Impact: The Compatibility criteria will take into 
consideration the extent of community need and projected impact of the 
funding on the Applicant's members and community.
    (ii) Effective Strategy: The Feasibility criteria will take into 
consideration the quality of the Applicant's strategy and its capacity 
to execute the strategy as demonstrated by its past performance, 
partnering relationships, and other relevant factors.
    (iii) Evaluating Prior Award Performance: For prior participants of 
the OSCUI Grant and Loan Program, loans may not be awarded if the 
participant: (1) Is noncompliant with any active award; (2) failed to 
make timely loan payments to NCUA during fiscal years prior to the date 
of Application; and (3) had an award deobligated (i.e. removal of 
unused awarded funds) during fiscal years prior to the date of 
Application.
    (d) Examination Information and Applicable Concurrence: NCUA will 
not approve an award to a credit union for which it's NCUA regional 
examining office or SSA, if applicable, indicates it has safety and 
soundness concerns. If the NCUA regional office or SSA identifies a 
safety and soundness concern, OSCUI, in conjunction with the regional 
office or SSA, will assess whether the condition of the Applicant is 
adequate to undertake the activities for which funding is requested, 
and the obligations of the loan and its conditions. NCUA, in its sole 
discretion, may defer decision on funding an Application until the 
credit union's safety and soundness conditions improve.
    (e) Funding Selection: NCUA will make its funding selections based 
on a consistent scoring tier for each applicant. NCUA will consider the 
impact of the funding. In addition, NCUA may consider the geographic 
diversity of the Applicants in its funding decisions. When loan demand 
is high, applications will be ranked based on the aforementioned.

F. Federal Award Administration

    1. Federal Award Notices: NCUA will notify each Applicant of its 
funding decision. Notification will generally be by email. Applicants 
that are approved for funding will also receive instructions on how to 
proceed with disbursement of the loan.
    2. Administrative and National Policy Requirements: (a) Loan 
Agreements: Each Participating Credit Union approved for funding under 
this NOFO must enter into agreement with NCUA before NCUA will disburse 
loan funds. The agreement documents include, for example, a promissory 
note, loan agreement, amortization schedule, and security agreement (if 
applicable). The Loan Agreement will include the terms and conditions 
of funding, including but not limited to the: (i) Loan amount; (ii) 
interest rate; (iii) repayment requirements; (iv) accounting treatment; 
(v) impact measures; and (vi) reporting requirements.
    3. Administrative and National Policy Requirements: (a) Loan 
Agreements: Each Participating Credit Union under this NOFO must enter 
into agreement with NCUA before NCUA will disburse loan funds. The 
agreement documents include, for example, a promissory note, loan 
agreement, repayment schedule, and security agreement (if applicable). 
The Loan Agreement will include the terms and conditions of funding, 
including but not limited to the: (i) Loan amount; (ii) interest rate; 
(iii) repayment requirements; (iv) accounting treatment; (v) impact 
measures; and (vi) reporting requirements.
    (b) Failure To Sign Agreement: NCUA, in its sole discretion, may 
rescind a loan offer if the Applicant fails to return the signed loan 
documents and/or any other requested documentation, within the time 
specified by NCUA.
    (c) Multiple Disbursements: NCUA may determine, in its sole 
discretion, to fund a loan in multiple disbursements. In such cases, 
the process for disbursement will be specified by NCUA in the Loan 
Agreement.
    3. Reporting: The reporting requirements are more fully described 
in Sec.  705.9 of NCUA's regulations. Annually, each Participating 
Credit Union will submit a report to NCUA. The report will address the 
Participating Credit Union's use of the loan funds; the impact of 
funding; and explanation of any failure to meet objectives for use of 
proceeds, outcome, or impact. NCUA, in its sole discretion, may modify 
these requirements. However, such reporting requirements will be 
modified only after notice to affected credit unions.
    Report Form: Applicable credit unions will be notified regarding 
the submission of the report form. A Participating Credit Union is 
responsible for timely and complete submission of the report. NCUA will 
use such information to monitor each Participating Credit Union's 
compliance with the requirements of its loan agreement and to assess 
the impact of the OSCUI Loan Program.

G. Agency Contacts

    1. Methods of Contact: Further information can be found at: https://www.ncua.gov/services/Pages/small-credit-union-learning-center/services/grants-loans.aspx. For questions email: National Credit Union 
Administration, Office of Small Credit Union Initiatives at 
[email protected].
    2. Information Technology Support: People who have visual or 
mobility impairments that prevent them from using NCUA's Web site 
should call (703) 518-6610 for guidance (this is not a toll free 
number).

    Authority:  12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782, 
1784, 1785 and 1786; 12 CFR 705.

    By the National Credit Union Administration Board on May 12, 
2017.
Gerard Poliquin,
Secretary of the Board.
[FR Doc. 2017-10088 Filed 5-17-17; 8:45 am]
 BILLING CODE 7535-01-P
22856 Federal Register / Vol. 82, No. 95 / Thursday, May 18, 2017 / Notices

forth in the application and found in 12 an EIN may be found on the IRS’s Web Principles, and Audit Requirements for
CFR 705.7(c). site at www.irs.gov. Federal Awards (2 CFR Chapter I,
(b) Compliance With Past (d) Narrative Responses: Each Chapter II, part 200, et al.), credit unions
Agreements: In evaluating funding Application must include the narratives are required to: (i) Be registered in the
requests under this NOFO, NCUA will listed below. Applicants must adhere to System for Award Management (SAM)
consider an Applicant’s record of character limitations contained in the before submitting its application; (ii)
compliance with past agreements, Application. NCUA will not consider provide a valid Data Universal
including any deobligation of funds. narrative comments beyond the limits Numbering System (DUNS) number
NCUA, in its sole discretion, will specified. Additionally, NCUA will only issued by Dun and Bradstreet (D&B);
determine whether to consider an review information requested in the and (iii) continue to maintain an active
Application from an Applicant with a Application and will not consider SAM registration with current
past record of noncompliance, including supplemental attachments that have not information at all times during which it
any deobligation (i.e. removal of unused been requested in this NOFO or the has an active Federal award or an
awards) of funds. Application. application or plan under consideration.
(i) Default Status: If an Applicant is in (i) Use of Funds: A narrative NCUA will not consider an Application
default of a previously executed describing how it intends to use the that does not include a valid DUNS
agreement with NCUA, NCUA will not loan proceeds. The narrative should number and an active SAM status. Such
consider an Application for funding demonstrate that the loan will enhance an Application will be deemed
under this NOFO. the products and services the credit incomplete and will be declined.
(ii) Undisbursed Funds: NCUA may union provides to its members. It also Information on how to obtain a DUNS
not consider an Application if the should describe how those enhanced number may be found on D&B’s Web
Applicant is a prior awardee under the products and services will support the site at http://fedgov.dnb.com/webform
OSCUI Grant Program and has unused economic development of the or by calling D&B, toll-free, at 1–866–
grant awards as of the date of community served by the credit union. 705–5711. Information on how to
Application. (ii) Matching Funds: A narrative register for SAM may be found on
describing its strategy for raising SAM’s Web site at https://www.sam.gov.
D. Application and Submission
matching funds from non-federal 4. Submission Dates and Times: The
Information
sources if matching funds are required. application period corresponds to the
1. Application Form: The application (e) Large Loans: An Applicant dates of this NOFO and is open until
and related documents can be found on requesting a loan in excess of $300,000 funds are exhausted.
NCUA’s Web site at https:// is required to complete an online 5. Other Submission Requirements:
www.ncua.gov/services/Pages/small- application form that contains Under this NOFO, Applications must be
credit-union-learning-center/services/ additional narrative comments submitted online at http://
grants-loans.aspx. supporting such request. The additional www.cybergrants.com/ncua.
2. Minimum Application Content: narrative consists of a business plan.
Each Applicant must complete and (i) Business Plan: The business plan E. Application Review Information
submit information regarding the must: describe the community’s need 1. Review and Selection Process:
applicant and requested funding. In for financial products and services and (a) Eligibility and Completeness
addition, applicants will be required to the Applicant’s need for funding; Review: NCUA will review each
certify applications prior to submission. summarize the services, financial Application to determine whether it is
(a) DUNS Number: NCUA will not products, and services provided by the complete and that the Applicant meets
consider an Application that does not Applicant; describe the Applicant’s the eligibility requirements described in
include a valid Data Universal involvement with other entities; the Regulations and in this NOFO. An
Numbering System (DUNS) number describe the credit union’s marketing incomplete Application or one that does
issued by Dun and Bradstreet (D&B). strategy to reach members and the not meet the eligibility requirements
Such an Application will be deemed community; and include financial will be declined without further
incomplete and will be declined. See projections. consideration.
Section 3 for additional information. (f) Non-Federally Insured Applicants: (b) Substantive Review: After an
(b) System for Award Management (i) Additional Application Applicant is determined eligible and its
(SAM): All Applicants are required by Requirements: Each Applicant that is a Application is determined complete,
federal law to have an active registration non-federally insured, state-chartered NCUA will conduct a substantive
with the federal government’s System credit union must submit additional review in accordance with the criteria
for Award Management prior to application materials. These additional and procedures described in the
applying for funding. NCUA will not materials are more fully described in Regulations and this NOFO. NCUA
consider an Applicant that does not § 705.7(b) (3) of NCUA’s regulations and reserves the right to contact the
have an active SAM status. Such an in the Application. Applicant during its review for the
Application will be deemed incomplete (ii) Examination by NCUA: Non- purpose of clarifying or confirming
and will be declined. See Section 3 for federally insured, state-chartered credit information contained in the
additional information. unions must agree to be examined by Application. If so contacted, the
(c) Employer Identification Number: NCUA. The specific terms and Applicant must respond within the time
Each Application must include a valid covenants pertaining to this condition specified by NCUA or NCUA, in its sole
and current Employer Identification
jstallworth on DSK7TPTVN1PROD with NOTICES

will be provided in the loan agreement discretion, may decline the application
Number (EIN) issued by the U.S. of the Participating Credit Union. without further consideration.
Internal Revenue Service (IRS). NCUA 3. Dun and Bradstreet Universal (c) Evaluation: The evaluation criteria
will not consider an application that Numbering System (DUNS) Number and are more fully described in § 705.7(c) of
does not include a valid and current System for Award Management (SAM): NCUA’s regulations. NCUA will
EIN. Such an Application will be In accordance with Office of evaluate each Application that receives
deemed incomplete and will be Management and Budget, Uniform a substantive review on the four criteria
declined. Information on how to obtain Administrative Requirements, Cost described in the regulation: financial

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performance, compatibility, feasibility, approved for funding under this NOFO G. Agency Contacts
and examination information and must enter into agreement with NCUA 1. Methods of Contact: Further
applicable concurrence. before NCUA will disburse loan funds. information can be found at: https://
(i) Assessment of Impact: The The agreement documents include, for www.ncua.gov/services/Pages/small-
Compatibility criteria will take into example, a promissory note, loan credit-union-learning-center/services/
consideration the extent of community agreement, amortization schedule, and grants-loans.aspx. For questions email:
need and projected impact of the security agreement (if applicable). The National Credit Union Administration,
funding on the Applicant’s members Loan Agreement will include the terms Office of Small Credit Union Initiatives
and community. and conditions of funding, including at OSCUIAPPS@ncua.gov.
(ii) Effective Strategy: The Feasibility but not limited to the: (i) Loan amount; 2. Information Technology Support:
criteria will take into consideration the (ii) interest rate; (iii) repayment People who have visual or mobility
quality of the Applicant’s strategy and requirements; (iv) accounting treatment; impairments that prevent them from
its capacity to execute the strategy as (v) impact measures; and (vi) reporting using NCUA’s Web site should call
demonstrated by its past performance, requirements. (703) 518–6610 for guidance (this is not
partnering relationships, and other
3. Administrative and National Policy a toll free number).
relevant factors.
(iii) Evaluating Prior Award Requirements: (a) Loan Agreements: Authority: 12 U.S.C. 1756, 1757(5)(D), and
Performance: For prior participants of Each Participating Credit Union under (7)(I), 1766, 1782, 1784, 1785 and 1786; 12
the OSCUI Grant and Loan Program, this NOFO must enter into agreement CFR 705.
loans may not be awarded if the with NCUA before NCUA will disburse By the National Credit Union
participant: (1) Is noncompliant with loan funds. The agreement documents Administration Board on May 12, 2017.
any active award; (2) failed to make include, for example, a promissory note, Gerard Poliquin,
timely loan payments to NCUA during loan agreement, repayment schedule, Secretary of the Board.
fiscal years prior to the date of and security agreement (if applicable).
[FR Doc. 2017–10088 Filed 5–17–17; 8:45 am]
Application; and (3) had an award The Loan Agreement will include the
BILLING CODE 7535–01–P
deobligated (i.e. removal of unused terms and conditions of funding,
awarded funds) during fiscal years prior including but not limited to the: (i) Loan
to the date of Application. amount; (ii) interest rate; (iii) repayment
requirements; (iv) accounting treatment; NATIONAL SCIENCE FOUNDATION
(d) Examination Information and
Applicable Concurrence: NCUA will not (v) impact measures; and (vi) reporting Notice of Intent To Seek Approval To
approve an award to a credit union for requirements. Extend a Current Information
which it’s NCUA regional examining (b) Failure To Sign Agreement: NCUA, Collection
office or SSA, if applicable, indicates it in its sole discretion, may rescind a loan
has safety and soundness concerns. If offer if the Applicant fails to return the National Science Foundation.
AGENCY:
the NCUA regional office or SSA signed loan documents and/or any other Notice and request for
ACTION:
identifies a safety and soundness requested documentation, within the comments.
concern, OSCUI, in conjunction with time specified by NCUA.
SUMMARY: The National Science
the regional office or SSA, will assess (c) Multiple Disbursements: NCUA Foundation (NSF) is announcing plans
whether the condition of the Applicant may determine, in its sole discretion, to to request renewal of this collection. In
is adequate to undertake the activities fund a loan in multiple disbursements. accordance with the requirements of the
for which funding is requested, and the In such cases, the process for Paperwork Reduction Act of 1995, we
obligations of the loan and its disbursement will be specified by are providing opportunity for public
conditions. NCUA, in its sole discretion, NCUA in the Loan Agreement. comment on this action. After obtaining
may defer decision on funding an 3. Reporting: The reporting and considering public comment, NSF
Application until the credit union’s requirements are more fully described will prepare the submission requesting
safety and soundness conditions in § 705.9 of NCUA’s regulations. that OMB approve clearance of this
improve. Annually, each Participating Credit collection for no longer than 3 years.
(e) Funding Selection: NCUA will
Union will submit a report to NCUA. DATES: Written comments on this notice
make its funding selections based on a
The report will address the Participating must be received by July 17, 2017 to be
consistent scoring tier for each
Credit Union’s use of the loan funds; the assured of consideration. Comments
applicant. NCUA will consider the
impact of funding; and explanation of received after that date will be
impact of the funding. In addition,
any failure to meet objectives for use of considered to the extent practicable.
NCUA may consider the geographic
proceeds, outcome, or impact. NCUA, in FOR FURTHER INFORMATION CONTACT:
diversity of the Applicants in its
its sole discretion, may modify these Suzanne H. Plimpton, Reports Clearance
funding decisions. When loan demand
requirements. However, such reporting Officer, National Science Foundation,
is high, applications will be ranked
requirements will be modified only after 4201 Wilson Boulevard, Suite 1265,
based on the aforementioned.
notice to affected credit unions. Arlington, Virginia 22230; telephone
F. Federal Award Administration Report Form: Applicable credit 703–292–7556; or send email to
1. Federal Award Notices: NCUA will unions will be notified regarding the splimpto@nsf.gov. You also may obtain
notify each Applicant of its funding submission of the report form. A a copy of the data collection instrument
Participating Credit Union is and instructions from Ms. Plimpton.
jstallworth on DSK7TPTVN1PROD with NOTICES

decision. Notification will generally be
by email. Applicants that are approved responsible for timely and complete Individuals who use a
for funding will also receive submission of the report. NCUA will use telecommunications device for the deaf
instructions on how to proceed with such information to monitor each (TDD) may call the Federal Information
disbursement of the loan. Participating Credit Union’s compliance Relay Service (FIRS) at 1–800–877–
2. Administrative and National Policy with the requirements of its loan 8339, which is accessible 24 hours a
Requirements: (a) Loan Agreements: agreement and to assess the impact of day, 7 days a week, 365 days a year
Each Participating Credit Union the OSCUI Loan Program. (including Federal holidays).

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Document Created: 2017-05-18 01:20:36
Document Modified: 2017-05-18 01:20:36
Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
Action		Notice of funding opportunity.
Dates		The application period corresponds to the date of this NOFO and is open until funds are exhausted.
FR Citation		82 FR 22854