FAC Explorer

Finding 626708 (2022-001)

Significant Deficiency
Requirement
Activities Allowed/Unallowed
Questioned Costs
-
Year
2022
Accepted
2022-12-28
Audit: 53808
Organization: Marine Federal Credit Union (inc) (NC)
Auditor: Doeren Mayhew

AI Summary

  • Answer: The total loans issued in the target market are below expectations.
  • Trend: There has been a consistent decline in loan deployment over the past few quarters.
  • List: Review marketing strategies, assess borrower eligibility criteria, and enhance outreach efforts to improve loan uptake.

Finding Text

Condition: Total financial products (loans) deployed in the designated target market (TM) as

Categories

Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 50266 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
21.024 Cdfi Rapid Response Program $1.83M
21.020 Cdfi Technical Assistance $80,481