Yes. A CFPB-designated "underserved county" can be used in lieu of the Depository Institutions Test. Also, NCUA will consider alternative methods a federal credit union can rely on to determine whether a proposed area is underserved by other financial institutions, provided the analysis relies on NCUA or another federal banking agency's data.
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Can we use CFPB-designated underserved areas to meet the facility test?
Last updated on 02/12/19