Low-income credit unions that are interested in applying for Community Development Revolving Loan Fund grants from the National Credit Union Administration can begin submitting applications on July 1.
The NCUA will administer approximately $2 million in CDRLF grants to the “most qualified” applicants, subject to the availability of funds.
Applications for funding must be received no later than August 18 at 11:59 p.m. Eastern time.
Credit unions may apply for a grant in one of three categories:
- Digital services and security (maximum grant $10,000): Helping credit unions create digital relationships with members.
- Leadership development (maximum grant $10,000): Promoting career development within the credit union industry.
- Underserved outreach (maximum grant $20,000): Assisting credit unions in improving the financial well-being of individuals in underserved areas.
Grant requirements, application instructions, and other information can be found here,