NCUA announced on Wednesday that funding for its COVID-19 urgent need grants initiative has been fully utilized and the agency is not accepting any new applications for the program.
According to an NCUA press release, the agency will complete the review process for COVID-19 urgent need grant applications that are currently pending and will notify credit unions of its decisions via email.
NCUA first announced in March that its Office of Credit Union Resources and Expansion would provide grants up to $7,500 to low-income credit unions for COVID-19-related needs.
Urgent need grants are still available for events not related to the pandemic, with federally insured, low-income-designated credit unions available to apply for grants up to $7,500 for emergency and natural disaster relief, the press release stated. Credit unions can apply through the agency’s CyberGrants portal.