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NCUA Board Approves Updates to MDI Preservation Program

The NCUA Board unanimously approved, at last week’s meeting, updates to the agency’s written Minority and Depository Institution (MDI) Preservation Program policy.

The revisions include:

  • Updating the administering office to CURE to reflect the agency’s current structure;
  • Clarifying that the meaning of “community it services,” means a credit union’s field of membership;
  • Adding a reference to agency guidance to examiners regarding supervision of minority depository institutions;
  • Clarifying the process for reviewing a minority depository institution’s designation status; and
  • Adding new subsection headings and expanding the discussion of agency actions and policies in the areas of minority depository institution engagement, technical assistance, examinations of minority depository institutions, grants and loans, and training.

The revised policy statement is effective 30 days after date of publication in the Federal Register.

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