ALEXANDRIA, Va. (8/21/15)--Nearly 200 federally insured credit unions will receive consulting services from the National Credit Union Administration in the second half of 2015, the agency announced Thursday.
These services will be used to help 191 credit unions improve operations and member services.
NCUA Chair Debbie Matz said that taking advantage of the agency’s consulting services “can head off problems and uncover opportunities that might not otherwise be apparent.”
Credit unions enrolled in the current round of services range in asset size from $91,200 to more than $100 million. Minority depository institutions comprise 18.3% of the credit unions in the program, and 57% of the credit unions are designaated as low income.
The NCUA’s Office of Small Credit Union Initiatives provides free consulting services to participating credit unions. These services are designed to help credit unions develop outreach strategies, implement new products and services, or complete strategic plans, succession plans and marketing calendars.
Credit unions may self-nominate for the program, or an NCUA or state examiner may make the nomination. To be eligible, a credit union must either have total assets of less than $50 million, have been chartered for fewer than 10 years, have a low-income designation or be a minority depository institution.