ALEXANDRIA, Va. (12/18/14)--Applications for the first round of 2015 technical assistance grants from the National Credit Union Administration will open Feb. 2. The grants are designed for low-income credit unions to pay for training for staff and volunteers or for hiring interns.
Details for the two grant categories for the first round are:
According to the NCUA, it will provide at least $360,000 in grants for more than 100 credit unions during the first round of 2015. The intern and training grants are considered separate initiatives by the NCUA, and interested credit unions can apply for both.
The funds come from the Community Development Revolving Loan Fund (CDRLF), which was created by Congress to support low-income credit unions. A funding bill containing $2 million for the CDRLF was approved by the Senate last weekend.
The fund was originally scheduled to receive $1.071 million, but the Credit Union National Association, among others, advocated for the higher amount that was eventually incorporated into the bill.
The grant program is administered by the NCUA's Office of Small Credit Union Initiatives. Credit unions can apply online between Feb. 2 and March 3.