Apply for an Advance

Steps to Apply

Step 1 – Contact CLF

Communicate, either by phone or email, the member’s intent to borrow. The CLF will be available to provide guidance throughout the process as needed and can be contacted by phone at 703.518.6428 or by email at CLFMail@NCUA.gov.

Step 2 – Advance Application

Complete and submit Advance Application.

Email CLFMail@NCUA.gov with the application including completed NCUA form 7001.

• NCUA forms 7002 and 7003 (or an equivalent report) are required for advance requests over 90 days or when the repayment source cannot be clearly explained.
• NCUA form 7004 (or an equivalent report) is required for seasonal adjustment credit requests.

Credit unions may also provide the application by mail, courier, or otherwise hand-deliver a physical notice of intent to borrow.

Resources

• Operating Circular 20-02: Regular Member Facility Advances
• Operating Circular 20-01: Agent Lending Process
• Collateral Margins Table