The NCUA is offering urgent needs grants to federally insured, low-income designated credit unions that experience unexpected costs related to the coronavirus.
“The NCUA recognizes that the COVID-19 outbreak will affect all federally insured credit unions and their members to varying degrees,” NCUA Chairman Rodney Hood said. “If you are a low-income credit union that needs assistance during this difficult time, I encourage you to apply for these grants to ensure you can continue to meet the financial needs of your members and communities.”
According to a March 23 press release, the NCUA’s Office of Credit Union Resources and Expansion may provide grants up to $7,500 to low-income credit unions for:
- hardware, software or other equipment to help them provide financial products and services from remote locations;
- consulting services to develop programs and partnerships to assist those affected by COVID-19, such as small businesses or schools; and
- development of marketing materials to assure members their insured deposits are safe.
More information is available through the Office of Credit Union Resources and Expansion, firstname.lastname@example.org.