Application period opens Feb. 3 for NCUA grants
NCUA is accepting applications for its first 2014 round of technical assistance grants beginning Feb. 3, the agency announced.
The agency said low-income designated credit unions can individually receive up to $16,500 in funding for three grant categories:
- a new community development financial institution certification;
- new products; and
- student internships.
NCUA Chairman Debbie Matz noted the CDFI certification grant is a new offering. "CDFI-certified financial institutions have access to additional capital, which can help them create jobs and promote financial stability in some of our nation's most underserved communities," she said. "I encourage all eligible credit unions to apply."
NCUA will provide $481,000 in total funding during the first 2014 grant round. The application period runs Feb. 3 through Feb. 14, 2014. Credit unions may apply online here.
NCUA loans and grants to low-income designated credit unions are provided through the Community Development Revolving Loan Fund; the program is run by the Office of Small Credit Union Initiatives.
New for 2014, NCUA will provide $2,500 each to as many as 40 credit unions seeking a CDFI certification. Certified CDFIs may apply for funding from the U.S. Department of the Treasury's Community Development Financial Institutions Fund. The CDFI Fund provides funding for financial institutions serving low-income people and communities that lack adequate access to affordable financial products and services.
NCUA notes credit unions have historically represented the second largest category of CDFIs, even though only 10 percent of the nearly 2,000 low-income credit unions designated by NCUA are CDFI certified. The CDFI Fund awarded $184 million to CDFIs in 2013.
Growth & Retention
Add to Calendar 2023-09-22 14:00:00 2023-09-22 14:00:00 Understanding Credit Card Portfolio Sales & Agent Programs Both credit union and bank credit card issuers are under intense pressure from various sources, including competitor innovation, significant internal resource commitments, increasing operating expenses, uncertain regulatory and economic environments and a variety of capital and liquidity constraints. This has led to about 80% of all banks offering credit cards under an ‘agent issuing’ model, where a third-party issues credit cards under the financial institution’s name. While hundreds of credit unions do the same, and interest in this option has increased in the last two years, the majority of credit unions still own and manage this product themselves. Deciding whether this option can meet strategic, financial and member needs can be difficult to untangle. In this webinar, Understanding Credit Card Portfolio Sales & Agent Programs, you’ll delve into the structure of such programs, the financial and risk-profile impacts of such a decision, the contractual commitments required of both parties and discover evaluation tips and processes for any credit union that would like to evaluate this path. Key Takeaways Discover the structure of the agent issuing concept and obligations of both parties Understand the financial impact of entering such a program to the balance sheet, income statement, and critical performance ratios Ascertain the impacts to members, including both positive and negative possibilities Review the accompanying contractual structures and key considerations Develop an evaluation process that best protects the credit union’s financial and other outcomes Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until September 22, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend COOs CFOs NCCOs and compliance titles NCRMs and risk titles General counsel staff Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCCO, NCRM, CPE
Get daily updates.
Subscribe to NAFCU today.