# Secondary Capital Accounts
> **US National Credit Union Administration** · Final rule. · Published 2010-09-23 · Effective 2010-09-23 · 75 FR 57841
## Document
- **Document number:** 2010-23652
- **Category:** final-rule
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 75 FR 57841
- **CFR reference:** 12 CFR 701
- **Publication date:** 2010-09-23
- **Effective date:** 2010-09-23
## Abstract

On February 19, 2010, NCUA published an interim final rule amending its regulation governing secondary capital accounts to permit low-income designated credit unions to redeem all or part of secondary capital accepted from the United States Government or any of its subdivisions at any time after the secondary capital has been on deposit for two years. The amendments also allowed early redemption, under the same terms and conditions, of secondary capital accepted as a match to the government-funded secondary capital. Finally, the amendments changed the loss-distribution provision that applies to secondary capital accounts so that secondary capital accepted under the 2010 Community Development Capital Initiative is senior to any required matching secondary capital accepted from an alternative source. This rule confirms those amendments as final with some technical changes and clarifications.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2010/09/23/2010-23652/secondary-capital-accounts)
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