In its ongoing effort to support the growth and development of small credit unions, the Cooperative Credit Union Association (CCUA) today unveiled a new source of funding dedicated exclusively to help its small credit unions improve services to their members.
Through its Small Credit Union Assistance Program, all federal and state chartered CCUA-member credit unions having $100 million-or-less in assets become eligible to apply for grant monies to support their operational needs. The grants, up to $2,000 each, may be utilized for operations, technology and security upgrades, in addition to helping a credit union engage emerging and underrepresented markets, including youth, older Americans, immigrant populations, and people of low or modest means.
CCUA is funding its Small Credit Union Assistance Program through the generous support of its own member credit unions, complimented by the program’s principal sponsors, CUNA Mutual Group and MemberClose.
“CCUA is proud to launch our new grant assistance program which represents the association’s commitment to support our low-asset credit unions and provide them greater opportunities to serve their members,” noted CCUA President/CEO Ron McLean. “A huge thank you to the many CCUA member credit unions, CUNA Mutual Group and MemberClose for their leadership by financially supporting this very important initiative.”
To be considered for a grant, a credit union must complete an application, which CCUA will evaluate based on the credit union's financial need and how the funds will be utilized. To date, CCUA’s Small Credit Union Assistance Program has $75,000 available for distribution.