ALEXANDRIA, Va. – NCUA has approved more than $1.4-million in technical assistance grants to more than 100 credit unions.
The regulator said the funds are to be used to improve service, provide training and expand community outreach.
“We made a concerted effort this year to make it easier to apply for these grants, and we saw a 77% increase in applications,” said William Myers, Director of NCUA’s Office of Small Credit Union Initiatives (OSCUI). “That shows the depth of commitment these credit unions have to their members and communities.”
NCUA said it received 331 grant applications with more than $5 million in funding requests, the highest total funding request in the program’s history. For 2012, NCUA received nearly $1.25 million in appropriated grant funds from Congress. Combined with remaining 2011 funds, approximately $1.4 million was available for these grants, the agency said.
By category, the funds are going toward:
* New Product/Service Development – $1,028,029
* Volunteer Income Tax Assistance – $119,069
* Student and Job Creation Internships – $104,598
* Staff, Official, and Board Member Training – $71,480
* Financial Literacy and Education in School Branches – $43,824