NCUA awarded $1.5 million in Community Development Revolving Loan Fund (CDRLF) grants to help 105 low-income credit unions expand outreach to underserved communities and improve digital services and security.

NCUA awarded grants ranging from $1,500 to $50,000 to credit unions in 35 states and the District of Columbia. Sixteen credit unions were first-time grant recipients. Thirty-three grantees were minority depository institutions.

Awards were in two categories:

• Underserved outreach: 22 grants totaling $1,006,190
• Digital services and cyber security: 83 grants totaling $529,517

During the 2021 grant round, the agency received 280 grant applications totaling more than $4.6 million.

The NCUA’s Office of Credit Union Resources and Expansion administers CDRLF grant funding to provide grants to credit unions serving low-income communities.