Fact Sheet: Minority Depository Institutions

What is a Minority Depository Institution Credit Union?

In a federally insured MDI credit union:

• More than 50 percent of its current members are Asian American, Black American, Hispanic American, or Native American;
• More than 50 percent of the community it services, as designated in its field of membership, are Asian American, Black American, Hispanic American, or Native American; and
• More than 50 percent of its current board members are Asian American, Black American, Hispanic American, or Native American.

What do MDIs do, and what does the NCUA do to support them?

• An MDI credit union typically offers affordable financial products and services to underserved individuals and communities.
• The NCUA’s Office of Credit Union Resources and Expansion offers training; technical assistance; and, for low-income-designated MDIs, access to grants and loans.
• The NCUA’s Small Credit Union and Minority Depository Institution Support Program offers assistance to MDIs of all asset sizes. This support may be used to address challenges such as those identified in examination reports. To request this support, contact the credit union’s assigned NCUA regional office, supervisory examiner, or district examiner.

How Does a Credit Union Become an MDI?

To become an MDI, a credit union must:

• Self-designate as an MDI using the online Credit Union Profile.
• Respond “yes” to each of the “Minority Depository Institution Questions” in the Profile.

Refer to the Interpretive Ruling and Policy Statement 13-1 for details.

NCUA’s Minority Depository Institution Preservation Program

What are the MDI Preservation Program’s goals and objectives?

The Program supports MDIs in several ways that in turn support the NCUA’s mission of ensuring a safe, sound, and sustainable credit union system.

The Program’s goals also reflect FIRREA §308 preservation objectives, namely:

• To preserve the present number of MDIs;
• To preserve the minority character of MDIs;
• To provide technical assistance to prevent insolvency of MDIs that are not now insolvent;
• To promote and encourage the creation of new MDIs; and
• To provide training, technical assistance, and educational programs.

What does the NCUA offer MDI designated credit unions?

• Training through the Learning Management Service is available to credit union directors, volunteers, and staff at no charge.
• For MDIs also designated as low-income credit unions, access to grants and loans.
• Support through the Small Credit Union and Minority Depository Institution Support Program for assistance such as creating a succession plan, developing a marketing plan, and addressing examination issues.
• Information and announcements of opportunities available through the NCUA and other federal government agencies.

Visit our website or contact us for more information by email at curemdi@ncua.gov.

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