Eligible low-income designated credit unions seeking CDRLF grants in 2022 can apply between May 2 and June 24, the NCUA announced on Monday.
The NCUA will award more than $1.5 million in CDRLF grants to the most qualified applicants, subject to the availability of funds, in four categories:
- Underserved Outreach (maximum award, $50,000) — assisting credit unions in expanding their reach to underserved communities and improve their members’ financial well-being;
- Small Credit Union Mentoring (maximum award, $25,000) — matching small credit unions with larger mentor credit unions to build capacity and expand services;
- Digital Services and Cybersecurity (maximum award, $10,000) — assisting credit unions with modernizing information and security systems to better protect themselves and members from cyberattacks; and
- Training (maximum award, $5,000) — strengthening credit unions through succession planning, leadership development, and staff education.
Grant requirements, application instructions, and other information are available on the NCUA’s program page and credit unions can use the NCUA’s cybergrants portal to submit their applications. Credit unions learn more about CDRLF grants on the NCUA’s Office of Credit Union Resources and Expansion website.
As previously reported, six credit unions in New York state were awarded CDRLF grants in 2021. Details about the all of the 2021 awardees can be accessed in the NCUA’s most recent Community Development Revolving Loan Fund Report.