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Credit unions with NCUA's low-income designation can begin submitting applications June 1 for grants under four initiatives: capacity and growth, cybersecurity, staff training and student internships. A total of $2 million is available.

Applications are only being accepted June 1 through June 30. Credit unions can submit one application for all initiatives using NCUA's CyberGrants program; credit unions can apply for more than one initiative. Grant awards range from up to $3,000 for staff training to up to $15,000 for growth initiatives, including new lending programs and deposit products.

A list of full eligible grant projects along with NCUA's evaluation criteria can be seen here.

On May 11, NCUA is offering a 90-minute webinar explaining its grant process. Online registration is available here.

NCUA's Office of Small Credit Union Initiatives administers the grants.