Low-income credit unions interested in Community Development Revolving Loan Fund (CDRLF) grants can submit applications to NCUA between June 2 and July 20.
“Creating opportunities for credit unions to serve low-income and rural communities is central to the credit union mission.” NCUA Board Chairman Rodney Hood said. “These grants support efforts for credit unions to better serve their members. I encourage eligible credit unions to evaluate how a CDRLF grant can strengthen their outreach program within their communities.”
The NCUA will administer approximately $2 million in CDRLF grants to the most qualified applicants, subject to the availability of funds, in four categories:
Credit unions interested in applying for CDRLF grants should register with the federal government’s System for Award Management. SAM.gov is an official U.S. government website that collects, validates, stores, and disseminates business information about the federal government's trading partners to support contract awards, grants, and electronic payment processes.
Grant requirements, application instructions and other information are available in the 2019 Grant Round Application Guidelines. Credit unions should use the NCUA’s CyberGrants portal to submit grant applications.
The NCUA’s Office of Credit Union Resources and Expansion will host a WebEx presentation on May 22 to explain the grant process and answer credit unions’ questions. More details on the presentation will be available in the near future.