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.