From CUNA News Now – Low-income credit unions can now apply for a total of $1.18 million in grants to help support their financial literacy, product development, collaboration, staff and board member training, office relocation and computer modernization efforts, the National Credit Union Administration said on Tuesday, 5/21.
Eligible credit unions may apply for as much as $24,000 in funding. Grant applications can be filed between June 17 and July 12, and grantees will be announced at the end of August, the agency said. Eligible credit unions may file a single application for all funding initiatives, the NCUA added.
NCUA Chairman Debbie Matz encouraged eligible credit unions to apply. “These grants provide critical assistance to low-income designated credit unions so they can better meet the evolving financial needs of their members,” she added.
The grant money was appropriated by Congress through the Community Development Revolving Loan Fund. NCUA’s Office of Small Credit Union Initiatives administers that fund.
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