news.cuna.org/articles/116630-ncua-awards-19m-in-grants-to-155-low-income-credit-unions

NCUA awards $1.9M in grants to 155 low-income credit unions

September 16, 2019

NCUA awarded $1.9 million in grants to help 155 low-income credit unions increase outreach to underserved communities, improve digital services and security and train employees.

The NCUA awarded grants ranging from $1,900 to $100,000 to credit unions in 40 states and the District of Columbia. Thirty-one credit unions are first-time grant recipients. Fifty-eight are minority depository institutions.

The NCUA made awards in four categories:

  • Underserved outreach: 11 grants totaling $972,742;
  • Digital services and security: 73 grants totaling $550,612;
  • Training: 46 grants totaling $217,369; and
  • Counselor certification: 35 grants totaling $161,925.

The NCUA’s Office of Credit Union Resources and Expansion administers grant funding provided by the Community Development Revolving Loan Fund, which offers grants and loans to credit unions serving low-income communities.

CUNA strongly supports the CDRLF and has fought to ensure it is funded in recent appropriations bills.