Newsroom

May 10, 2013

NCUA OKs grants for LICU student internships

May 13, 2013 – NCUA announced last week that it will award $80,000 in grant funding to 22 low-income credit unions so they can hire summer student interns.

NCUA Board Chairman Debbie Matz said the internship "provides students with paid work experience and introduces them to credit unions. It also gives credit unions a chance to add some helping hands and to connect with young people, who could be future members or industry leaders."

NCUA received more than 40 applications for grants in the first day of the application period, which opened May 1. The 22 grants are going to credit unions in 16 states from every region of the country: from Oregon to Texas, Connecticut and Florida.

The funding is provided from NCUA's Community Development Revolving Loan Fund. The fund provides loans and grants to credit unions with NCUA's low-income designation.