12 CFR § 705.3 - Eligibility requirements.

---
identifier: "/us/cfr/t12/s705.3"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 705.3 - Eligibility requirements."
title_number: 12
title_name: "Banks and Banking"
section_number: "705.3"
section_name: "Eligibility requirements."
chapter_name: "NATIONAL CREDIT UNION ADMINISTRATION"
subchapter_number: "A"
subchapter_name: "REGULATIONS AFFECTING CREDIT UNIONS"
part_number: "705"
part_name: "COMMUNITY DEVELOPMENT REVOLVING LOAN FUND ACCESS FOR CREDIT UNIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1756, 1757(5)(D), and (7)(I), 1766, 1782, 1784, 1785 and 1786."
regulatory_source: "76 FR 67587, Nov. 2, 2011, unless otherwise noted."
cfr_part: "705"
---


# 705.3 Eligibility requirements.

To be eligible to receive a CDRLF award, in the form of either a loan or a technical assistance grant, a Qualifying Credit Union must, within the timeframes specified in any Notice of Funding Opportunity:

(a) Complete and submit an Application; and

(b) Meet the underwriting standards established by NCUA, including those pertaining to financial viability, as set forth in the Application and any related materials developed by NCUA.