NCUA regulations require the credit union board to review loan applications from officials if the aggregate amount exceeds what sum?

The correct answer is based on the regulatory requirements set forth by the National Credit Union Administration (NCUA) regarding loan applications from officials within a credit union. Specifically, NCUA regulations stipulate that the credit union board must review loan applications from officials if the aggregate amount exceeds $20,000 plus any pledged shares. This threshold is designed to ensure that there is oversight and to prevent potential conflicts of interest or mismanagement in lending practices to individuals who have a significant role in the credit union's governance.

When officials are involved in loan applications, having a review process in place helps maintain integrity and transparency within the credit union's lending operations. By establishing this threshold at $20,000, the NCUA aims to provide a safeguard for the credit union and its members, ensuring that larger loan amounts are scrutinized adequately.

Other options listed provide different amounts that do not align with the established regulation. For instance, if the sum were less than $20,000, such as those mentioned in the other choices, it would not meet the regulatory requirement for board review. Thus, the requirement at $20,000 is significant because it marks a regulatory threshold that reflects the importance of accountability in handling substantial financial transactions involving credit union officials.