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.
(