| (a) Basic application. A local government, in conjunction
with a credit union, may submit an application to the Commission for
the designation of a proposed credit union development district, as
provided by §91.2003 of this subchapter (relating to Submission
and Processing of Application). The application shall contain the
following items to the extent available:
(1) the name of the local government, the county in
which it is located and evidence of the approval of the application
by its governing body;
(2) identification of the participating credit union
and the location of the proposed credit union or branch by street
address;
(3) a description of the geographic area comprising
the proposed district, including a map indicating the borders of the
proposed district;
(4) the location, number and proximity of sites where
credit union services are available in the proposed credit union development
district, including branches of other financial institutions and deposit-taking
ATMs other than those located at branches;
(5) a compilation and description of consumer needs
for credit union services in the proposed district, including population
demographics included within the proposed district;
(6) a compilation and description of the economic viability
and local credit needs of the community in the proposed district,
including economic indicators pertinent to the proposed district;
(7) a compilation and description of the existing commercial
development in the proposed district, including a description of the
type and nature of commercial businesses located in the proposed district;
and
(8) a compilation and description of the impact additional
credit union services would have on potential economic development
in the proposed district, including significant business developments
within the past three years, corporate restructurings, plant closings,
other business closings, and recent or proposed business openings
or expansions.
(b) Optional information. An application for designation
of a credit union development district may also include:
(1) a description of other local government and community
initiatives proposed to be undertaken and coordinated with establishment
of the proposed district;
(2) indications of community support or opposition
for the application, as evidenced by letters from entities such as
local chambers of commerce, local businesses, community-based organizations,
non-profit organizations, government officials, or community residents;
and
(3) such other information that the applicant believes
will demonstrate that the proposed district meets the standards set
forth in §91.2004 of this subchapter (relating to Criteria for
Approval).
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