NCUA's Community Development Grant Period Opens June 2

NCUA

Low-income credit unions interested in Community Development Revolving Loan Fund (CDRLF) grants can submit applications between June 2 and July 20. The National Credit Union Administration (NCUA) plans to award $2 million for underserved outreach, digital services, counselor certification, and training. 

“Creating opportunities for credit unions to serve low-income and rural communities is central to the credit union mission,” said NCUA Board Chairman Rodney E. Hood. “These grants support efforts for credit unions to better serve their members. I encourage eligible credit unions to evaluate how a CDRLF grant can strengthen their outreach program within their communities.”

The NCUA will administer approximately $2 million in CDRLF grants to the most qualified applicants, subject to the availability of funds, in these four categories:

Underserved Outreach (maximum grant $100,000): Assisting credit unions in improving the financial well-being of individuals in underserved areas.

Digital services and security (maximum grant $8,000): Supporting development of digital tools for member outreach programs.

Counselor certification (maximum grant $5,000): Providing support for credit union staff seeking certification in financial education.

Training (maximum grant $5,000): Helping credit unions develop staff talents and skills.

Credit unions interested in applying for CDRLF grants should register with the federal government’s System for Award Management

Grant requirements, application instructions, and other information are available in the 2019 Grant Round Application Guidelines. Credit unions should use the NCUA’s CyberGrants portal to submit grant applications.

The NCUA’s Office of Credit Union Resources and Expansion will host a WebEx presentation on May 22 to explain the grant process and answer credit unions’ questions.

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