ALEXANDRIA, Va. (5/15/14)--The National Credit Union Administration will invest an additional $1.2 million in low-income credit unions through its second round of 2014 Community Development Revolving Loan Fund grants.
The agency will accept applications from June 2 through 5 p.m. (ET) June 30. Each applicant may apply in any of four grant categories, but a credit union may only receive funding in one category.
The grants are used by credit unions to improve their service by adding new products, modernizing technology, and expanding staff training. As well as to expand their community outreach efforts.
The grant categories are:
In announcing the new round of grants, NCUA Chairman Debbie Matz said, "Because NCUA's grants to low-income credit unions can improve service and support local economies, I encourage all qualified credit unions to apply."
Funding for NCUA's grant initiatives is provided by the Community Development Revolving Loan Fund, a fund created by the U.S. Congress to support credit unions that serve low-income communities. NCUA's Office of Small Credit Union Initiatives administers the fund.
Use the resource link for more information or to apply online.