ALEXANDRIA, Va. (7/20/15)--Consulting and grants from the National Credit Union Administration’s Office of Small Credit Union Initiatives (OSCUI) tend to have a larger impact than that of loans or workshops.
An impact analysis study by the Filene Research Institute, released by the agency last week, examined the effectiveness of these resources.
The report also found that low-income designated credit unions show more signs of impact from OCSUI services than other credit unions, while OSCUI effects on minority and rural credit unions are similar to those seen among all small credit unions.
“Under its current operating model, OSCUI would likely see continued success serving the previous NCUA definition of small (under $10 million). Services administered to very small credit unions ($1 million to $10 million) are the most likely to show discernable effects,” the report reads. “OSCUI should use these findings as a benchmark for future activities and a spur to formulate new strategies for serving small credit unions.”
From 2009 to 2013, OSCUI provided credit unions with 44,738 hours of free consulting services, $6.5 million in grants and $21.7 million in loans. More than 7,000 credit union employees and volunteers attended OSCUI boot camps and workshops during that time period, with thousands more participating in webinars.
The report was prepared for OSCUI in December and the agency has made the document public last week, with several redactions.
Filene used a cumulative, mixed-methods approach to analyze performance data of credit unions served by OSCUI, as well as analysis of grants, consulting, loans and workshops.