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NCUA is inviting applications for its first grant round of 2015, for low-income credit unions interested in providing staff training or hiring interns through funds from the Community Development Revolving Loan Fund.

The application period will be open online between Feb. 2 and March 3.

NCUA said it would provide at least $360,000 in funding for the first grant round, which will cover as many as 100 low-income credit unions. Up to $4,000 would be available for each internship program, and up to $3,000 would be available for each staff or volunteer training program.

The fund is administered through the NCUA Office of Small Credit Union Initiatives. The fund was allocated $2 million for fiscal year 2015 by Congress, an increase which returns funding to 1999 levels.