Credit Union Development Initiatives

DEAR BOARD OF DIRECTORS:

Enclosed is NCUA’s credit union development program and activity report for the first six months of calendar year 2002. Through the collaborative efforts between the central and regional offices the agency’s initiatives are achieving results to facilitate credit unions’ efforts to expand their membership base and make available low-cost financial services. Among the programs incorporated within the Access Across America initiative are the Small Credit Union Program and Low-Income Credit Union Program.

The above programs, as well as the agency’s efforts to facilitate partnerships, are designed to foster business development of credit unions and to focus on creating economic empowerment through credit union access especially into neighborhoods and communities lacking access to low-cost financial services.

I encourage your participation in the programs described above and in the attached report.