ALEXANDRIA, Va. (8/6/15)--The National Credit Union Administration announced its largest grant round ever Wednesday, with more than $2 million going to 225 low-income credit unions.
The grants will be used to help these credit unions expand products and services, open branches, advance digital growth and provide greater security for their members.
NCUA Chair Debbie Matz said a total of 580 credit unions requested more than $9.4 million in the second grant round of 2015.
The agency awarded grants for four initiatives:
The grants are awarded by the NCUA’s Office of Small Credit Union Initiatives, which administers the Community Development Revolving Loan Fund. Since 2001, the agency has received more than $14.8 million from Congress for grants to low-income credit unions.
The NCUA also offers Urgent Need grants for emergency assistance, which are available all year.