No financial assistance shall be provided under this part unless the Secretary determines that—
(1)
any cooperative association receiving assistance has a minimum of fifteen active members, a majority of which are low-income rural persons;
(2)
adequate technical assistance is made available and committed to the programs being supported;
(3)
such financial assistance will materially further the purposes of this part; and
(4)
the applicant is fulfilling or will fulfill a need for services, supplies, or facilities which is otherwise not being met.