Federally insured credit unions with both the MDI and low-income designations can apply for the NCUA’s MDI mentoring grants through Oct. 29.
The current grant round will provide approximately $100,000 to low-income credit unions with the MDI designation to support mentoring relationships that allow larger, experienced credit unions the opportunity to provide guidance to other MDIs.
“The expiration of unemployment benefits and foreclosure and eviction moratoriums mean that low-income households and communities of color will face financial stress in the coming months,” said Todd Harper, NCUA chairman, when the grant period was announced in September. “The NCUA’s mentoring grants program helps MDI credit unions provide greater opportunities for members to build financial security, make investments in communities, and help to close the wealth gap. I strongly encourage eligible MDIs to apply to this program.”
Credit unions interested in these mentoring grants can find grant requirements, application instructions, and other important information on the grants page of the NCUA’s website. Credit unions can use the NCUA’s CyberGrants portal to submit their applications. Credit unions with other questions about these grants may contact the NCUA’s Office of Credit Union Resources and Expansion at CUREAPPS@ncua.gov.