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NCUA has awarded grants totaling almost $2.5 million to 309 low-income credit unions through the Community Development Revolving Loan Fund, the agency announced Tuesday.

NCUA received applications from more than 608 credit unions for more than $9.6 million.

"This grant round was the largest in NCUA's history," said NCUA Board Chairman Rick Metsger. "These grants will help credit unions provide affordable financial services to more people, improve operations and train a new generation of leaders. Our grant program is also another way of promoting a safe, sound and innovative credit union system. I encourage low-income credit unions to apply for this assistance in future grant rounds."

Grants were awarded to help spur capacity and growth ($1.49 million), advance cybersecurity ($752,529), provide student internships ($125,795) and fund staff training in areas including lending, collections and governance ($125,700).

Credit unions may apply for grants for emergency assistance year-round, subject to funding availability. More information is available in the Office of Small Credit Union Initiatives' Urgent Needs Grant guidance.