Data-Driven LID Support for Credit Unions
Business Lending Cap: Credit unions are restricted to a 12.25% cap on member business loans, limiting their ability to support local entrepreneurs.
Fixed Asset & PCA Rules: Regulations like the fixed asset cap and net worth requirements constrain growth and operations.
Missed Grants & FOM Growth: Without LID, credit unions lose access to financial grants and face challenges expanding into underserved areas.
But there’s a strategic solution that can give your credit union a real advantage:
A Low-Income Designation (LID)
Credit Unions with LID gain access to a host of benefits:
With our proven approach, any credit union can attain LID. We guide you through the path that makes the most strategic and practical sense for your institution.
The standard and most common route. Match member data to LID geographies.
An option for federal community charters. Show that a majority of your total potential membership meets the low-income definition.
The right fit for a select few. Demonstrate the share of your loans issued to a low-income target population.
We provide credit unions with a path to attain LID with certainty. And once you attain LID, we make it easier for you to keep it.
Baseline Assessment: Review your current data and eligibility
Identify data enrichment needed to maximize your current membership potential with qualifying individuals
Easily build reports to demonstrate that a majority of the total potential membership meets the low-income definition.
Identify the % of Your Loans Issued to a Low-Income Target Population
Our fintech lending partners leverage CUCollaborate’s proprietary LID & FOM APIs along with the credit union’s membership application and loan documentation to provide our clients with a consistent pipeline of new members and qualifying loans
We make it easier for you to retain your status through tracking and monitoring tools, including LID dashboards, APIs, and custom mapping tools.
Regardless of where you are in your LID journey, we’ll help you use LID to fuel your mission, fund your growth, and serve your members better.
Our team brings decades of experience in credit union mergers, strategic planning, and financial modeling.
Armand is a seasoned credit union leader with over 15 years of experience in financial services, specializing in credit union management, marketing, digital transformation, and advocacy. A second-generation credit union professional, Armand has a passion for helping credit unions thrive and better serve their communities. Prior to CUCollaborate, Armand served as the Chief Administrative & Development Officer of a credit union where he led initiatives that achieved exceptional asset growth, secured millions in grants, and pioneered innovative programs. His contributions have earned him recognition, including being named NAFCU’s 2021 Professional of the Year and the CU Times Luminaries 2024 Rising Star. An accomplished advocate and speaker, he holds multiple industry certifications and believes in the power of collaboration and data-driven strategies to drive success. Outside of work, Armand enjoys teaching martial arts, traveling, and exploring new cuisines. Armand holds a BS in Psychology, an MBA with a concentration in Finance, and is a Credit Union Development Educator (CUDE).
Jason has over 15 years of experience in consulting, with a focus on financial and performance management, data analytics, business process improvement, and organizational change management. Before joining CUCollaborate, Jason helped clients develop analytical tools and strengthen program management practices to improve operations and better manage resources at Booz Allen Hamilton and Grant Thornton. He is excited to bring his varied consulting experience to CUCollaborate to help credit unions grow and better serve their communities.
Lara brings a diverse work history to the team, initially starting her career in international development and nonprofits. After completing a Fulbright grant in Rwanda, she earned her MPA from the Maxwell School and most recently worked in budget analysis at the Executive Office of US Attorneys. Lara's goal is to find creative solutions to problems and build strong collaborative relationships. When she's not working, she's spending time with her dog, Benny, playing violin, or trying very hard to keep her houseplants alive.