ALEXANDRIA, Va. – Low-income credit unions interested in applying for Community Development Revolving Loan Fund grants can begin submitting applications July 1, according to NCUA.
The NCUA will administer approximately $2 million in CDRLF grants to the most qualified applicants, subject to the availability of funds. NCUA said credit unions may apply for a grant in one of three categories:
- Digital Services and Security (maximum grant $10,000): Helping credit unions create digital relationships with members
- Leadership Development (maximum grant $10,000): Promoting career development within the credit union industry
- Underserved Outreach (maximum grant $20,000): Assisting credit unions in improving the financial well-being of individuals in underserved areas
Applications for funding must be received no later than Aug. 18 at 11:59 p.m. ET.
NCUA said grant requirements, application instructions, and other information are available in the 2018 Grant Round Application Guideline.
Federal law requires that credit unions have an active registration with the federal government’s System for Award Management prior to applying for funding. Credit unions interested in applying for CDRLF grants are encouraged to register in SAM.gov or recertify existing SAM.gov accounts as soon as possible.