NCUA December Board Meeting to Include Final Rule on Charitable Donation Accounts
The final rule to be reviewed at the Dec. 15 board meeting sets the terms for charitable donation accounts, including limiting the aggregate investments for charitable donation accounts (CDAs) to 3% of the credit union’s net worth. At least 51% of the total return from the account must be distributed to one or more charities at least once every five years. [12/6]