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NCUA STUDENT GRANTS ANNOUNCED
updated 05/06/13 01:45 PM
Low Income CUs Can Apply
The National Credit Union Administration (NCUA) announced it is offering up to $80,000 in grants to low-income credit unions to hire student interns during the summer internship season.

Click here to apply for the NCUA's Student Internship Grant Initiative.

“The Student Internship Grant Initiative provides the next generation with the opportunity to gain professional experience, enhance job skills, and learn more about the credit union industry,” said NCUA Board Chairman Debbie Matz. “Additionally, this initiative allows low-income credit unions to find and groom the industry’s future leaders. The infusion of new and diverse talent will assist credit unions to continue to improve their member services.”

NCUA will award up to $4,000 to each eligible credit union. To be eligible, a credit union must have a low-income designation and be financially viable. Low-income credit unions may only use these grants for a student internship. Credit unions that received a student internship award in 2012 are not eligible for funding this year.

NCUA will accept applications from May 1–20. NCUA’s Office of Small Credit Union Initiatives will review applications immediately upon receipt and issue approvals on a first-come, first-served basis until all funds are exhausted. Credit unions are therefore encouraged to submit their applications to NCUA as soon as possible once the application period opens.

NCUA has provided funding under the Student Internship Grant Initiative to low-income designated credit unions since 1998. In 2012, NCUA awarded 24 credit unions with nearly $106,000 under this program.

Funding for the Student Internship Grant Initiative is provided by the Community Development Revolving Loan Fund (CDRLF). Congress established the CDRLF to provide grants and loans to credit unions that serve low-income communities. NCUA’s OSCUI administers these funds. Since 2001, Congress has appropriated $10.4 million for CDRLF grants.

Click here for more information about NCUA's Student Internship Grant Initiative

NCUA’s OSCUI fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions and credit unions with a low-income designation.

NCUA will announce additional grant initiatives for 2013 in mid-June.

                           
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LEADERS ENGAGE WITH STATE LAWMAKERS updated 04/15/14 09:44 AM
Card Security a Hot Topic
Credit union professionals and volunteers took a stand for their members in Sacramento from April 7-8 during the California Credit Union League’s 2014 Government Relations Rally (GRR)—an event that attracted more than 75 attendees and helped build relationships with state legislators.

CO-OP ANNOUNCES SHAREHOLDER DIVIDEND updated 04/14/14 01:37 PM
Patronage Pool of $30.5 Million
CO-OP Financial Services has announced a shareholder dividend pool of $30.5 million for 2013—a 17 percent increase from 2012. Since becoming a credit union-owned cooperative in 1996, CO-OP’s total shareholder patronage has been $284.8 million.

DBO REPS ADDRESS 'CUOLI' INVESTMENTS updated 04/14/14 01:05 PM
State CU Update Given
California Department of Business Oversight (DBO) Commissioner Jan Owen and Deputy Commissioner of Credit Unions Erick Orellana gave attendees an overview of the department during the California Credit Union League’s 2014 Government Relations Rally (GRR) last week in Sacramento and welcomed questions from attendees.

CONGRESSMEN CONCERNED OVER RBC RULES updated 04/09/14 01:18 PM
Questions Arise During Hearing
Reps. Ed Royce, R-CA, and Brad Sherman, D-CA, questioned National Credit Union Administration (NCUA) General Counsel Mike McKenna on the effectiveness of the NCUA's proposed risk-based capital rule during a House Financial Services Committee hearing last week.