Low-income credit unions interested in applying for Community Development Grants from NCUA have until this Sunday, July 20, to submit applications to the agency. 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:
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. Credit unions should use the NCUA’s CyberGrants portal 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.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.
“Protecting credit unions and the consumers who own them through effective regulation”
Rodney E. Hood