Low-income credit unions interested in applying for Community Development Grants from NCUA can begin submitting applications to the agency June 2. Approximately $2 million will be administered through the Community Development Revolving Loan Fund during this grant round.
Qualifying credit unions can apply for grants in the following categories: Underserved Outreach, Digital Services and Security, Counselor Certification, and Training.
Here are the complete details from NCUA:
CDRLF Grant Round Opens June 2
NCUA Will Award $2 Million for Underserved Outreach, Digital Services, Counselor Certification, and Training
ALEXANDRIA, Va. (April 18, 2019) – Low-income credit unions interested in Community Development Revolving Loan Fund grants can submit applications between June 2 and July 20.
“Creating opportunities for credit unions to serve low-income and rural communities is central to the credit union mission.” NCUA Board Chairman Rodney E. Hood said. “These grants support efforts for credit unions to better serve their members. I encourage eligible credit unions to evaluate how a CDRLF grant can strengthen their outreach program within their communities.”
The NCUA will administer approximately $2 million in CDRLF grants to the most qualified applicants, subject to the availability of funds, in four categories:
- Underserved Outreach (maximum grant $100,000): Assisting credit unions in improving the financial well-being of individuals in underserved areas.
- Digital services and security (maximum grant $8,000): Supporting development of digital tools for member outreach programs.
- Counselor certification (maximum grant $5,000): Providing support for credit union staff seeking certification in financial education.
- Training (maximum grant $5,000): Helping credit unions develop staff talents and skills.
Credit unions interested in applying for CDRLF grants should register with the federal government’s System for Award Management (opens new window). SAM.gov is an official U.S. government website that collects, validates, stores, and disseminates business information about the federal government’s trading partners to support contract awards, grants, and electronic payment processes.
Grant requirements, application instructions, and other information are available in the 2019 Grant Round Application Guidelines (opens new window). Credit unions should use the NCUA’s CyberGrants portal (opens new window) to submit grant applications.
The NCUA’s Office of Credit Union Resources and Expansion will host a WebEx presentation on May 22 to explain the grant process and answer credit unions’ questions. More details on the presentation will be available in the near future.