Over the past decade, credit unions have experienced an increase in member business lending due to the demand of their small business members. In 2004, only 19% of all credit unions offered member business lending. However, by September 2015, 36% of all credit unions offered member business lending. Due to the increase in demand and as part of the Regulatory Modernization Initiative, the NCUA amended the member business loan rule (Part 723) during the first quarter of 2016, effective January 1, 2017. This is the first significant amendment to the rule since 2003.
Length: 2 pages (PDF 53 kB)