Newsroom

June 24, 2016

NCUA's $2M grant round closes June 30

Credit unions with NCUA's low-income designation need to submit their applications by June 30 to be considered for grants under four initiatives: capacity and growth, cybersecurity, staff training and student internships. A total of $2 million is available.

NCUA on Thursday also reminded applicants of the new requirement to register with the federal government's System for Award Management. Credit unions with questions about registering should contact the Federal Service Desk online or by telephone at (866) 606-8220. There is no registration fee.

To be considered for the Community Development Revolving Loan Fund grant assistance through NCUA, 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 full list of eligible grant projects and NCUA's evaluation criteria can be seen here.

NCUA's Office of Small Credit Union Initiatives administers the revolving loan fund.