NCUA's Charitable Donation Accounts (CDA)

NCUA's Charitable Donation Accounts (CDA) are special accounts that credit unions can set up to hold funds designated for charitable purposes. These accounts allow credit unions to collect and manage donations from members or external sources, which are then used to support community projects, scholarships, or other philanthropic activities. The CDA ensures transparency and proper handling of these funds, separating charitable contributions from regular operational funds. This helps credit unions strengthen community relations while adhering to regulatory requirements for managing charitable assets efficiently and ethically.