How to Obtain a Credit Union Low Income Designation From the NCUA!

While the Low Income Designation (LID) is automatic for some credit unions, it is elusive to others. Management of credit unions serving working class populations can misinterpret not receiving the automatic approval to mean their credit union is ineligible for the designation. This is particularly confusing for the CEO of a CDFI Certified credit union that did not automatically receive the Low Income Designation. What should you do if you know your credit union serves working class people, but was not automatically approved? There are a few easy steps to obtain it, even if you went through the process and were previously denied. The NCUA’s process for providing the designation is fixed, dri

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