The National Credit Union Administration has extended the deadline for applying for 2023 Community Development Revolving Loan Fund (CDRLF) grants to July 7.

Credit unions with either the low-income or minority depository institution designation are eligible to apply. The Grants page on the NCUA’s website has all the necessary information for submitting an application. Applications must be submitted online through the NCUA’s CyberGrants portal.

The agency will administer approximately $3.5 million in CDRLF grants to the most-qualified applicants, subject to the availability of funds. Grants will be awarded in five categories and two pilot initiatives.

A credit union applying for a CDRLF grant must have an active account with the System for Award Management, or SAM, and a unique entity identifier number they will receive when they register for a SAM account. Credit unions with an existing registration with SAM must recertify and maintain an active status annually. SAM users can register or recertify their account by following the instructions for registration.

There is no charge for the SAM registration and recertification process.