TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 185 CREDIT UNION COMMUNITY REINVESTMENT
SECTION 185.200 ASSESSMENT FACTORS


 

Section 185.200  Assessment Factors

 

a)         As used in this Part, "assessment factors" means the assessment of the following factors to determine whether a credit union is meeting the financial services needs of local communities:

 

1)         activities to ascertain the financial services needs of the community, including communication with community members regarding the financial services provided;

 

2)         extent of marketing to make members of the community aware of the financial services offered;

 

3)         origination of mortgage loans including, but not limited to, home improvement and rehabilitation loans, and other efforts to assist existing low-income and moderate-income residents to be able to remain in affordable housing in their neighborhoods;

 

4)         for small business lenders, the origination of loans to businesses with gross annual revenues of $1,000,000.00 or less, particularly those in low-income and moderate-income neighborhoods;

 

5)         participation, including investments, in community development and redevelopment programs, small business technical assistance programs, minority-owned depository institutions, community development financial institutions, and mutually-owned financial institutions;

 

6)         efforts working with delinquent customers to facilitate a resolution of the delinquency;

 

7)         origination of loans that show an under concentration and a systemic pattern of lending resulting in the loss of affordable housing units;

 

8)         evidence of discriminatory and prohibited practices; and

 

9)         offering retail banking services to unbanked and underbanked persons.

 

b)         In applying these factors, the Secretary shall account for a credit union's field of membership and any lending, investment, and other limitation or prohibition applicable to the credit union pursuant to law.