ALEXANDRIA, Va.— Eligible low-income designated credit unions seeking Community Development Revolving Loan Fund (CDRLF) grants in 2022 can apply between May 2 and June 24, NCUA announced.
“The grants the NCUA makes through the Revolving Loan Fund program make a real difference for credit unions, their members, and the communities they serve,” NCUA Chairman Todd M. Harper said. “These investments go into communities that would otherwise be underserved, giving credit unions resources to build their capacity, including cybersecurity resilience, bolster local economies, and create more secure financial futures for credit union members. I encourage all eligible credit unions to apply.”
The agency 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
- Training (Maximum award, $5,000) — Strengthening credit unions through succession planning, leadership development, and staff education
Grant requirements, application instructions, and other important information are available on NCUA.gov. Grant applications must be submitted online through the NCUA’s CyberGrants portal. Credit unions with additional questions about CDRLF grants may contact the NCUA’s Office of Credit Union Resources and Expansion at CUREAPPS@ncua.gov.
NCUA noted that to apply, eligible credit unions must have an active account with the System for Award Management and unique entity identifier number that they will receive when they register for a SAM account. Low-income designated credit unions with an existing registration with SAM must recertify and maintain an active status annually. There is no charge for the SAM registration and recertification process. SAM users can register or recertify their account by following the instructions for registration.
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