ALEXANDRIA, Va.— NCUA has issued a notice of funding opportunity for low-income designated credit unions (LICUs) through the agency's Community Development Revolving Loan Fund (CDRLF) program.
The CDRLF program provides loans and technical assistance grants to help LICUs better serve the communities in which they operate. The program has four initiatives: digital services and security, leadership development, underserved outreach and loans.
There is $5.3 million available for the loan initiative, which has a maximum award amount of $500,000. Applications for this initiative are open until funds are exhausted.
The other three initiatives have $2 million funding availability combined. Grants for digital services and security are capped at $10,000 while underserved outreach grants are capped at $20,000. The application period for these initiatives is July 1 through Aug. 18.
More information about funds available and eligibility requirements can be found here.