National Credit Union Administration: Office of Small Credit Union Initiatives Grant Program – Round TwoDeadline: August 31, 2017
The National Credit Union Administration’s Grant Program was established by Congress to provide funds to low-income designated credit unions that serve low-income communities. The Office of Small Credit Union Initiatives (OSCUI) administers the congressionally appropriated funds. OSCUI will fund the following initiatives:
Undeserved outreach: This initiative aims to improve the financial health of individuals in underserved communities. The grant is designed for credit unions interested in developing innovative strategies that will improve the financial health of individuals living in underserved areas. This initiative focuses on underserved population segments such as minority groups, youth, millennials, veterans, and immigrants. The outreach activities that credit unions propose are expected to drive positive business results for the credit union and increase outreach to the underserved group. Credit unions must identify an underserved population segment and propose a project that focuses on at least one of the following activities for the group:
- Providing or developing an innovative financial technology or delivery service that significantly increases access of the underbanked/unbanked to the credit union
- Developing a new product or program (e.g., first time homeowner program)
- Developing partnerships with other organizations to assist the needs of low wealth persons and households (e.g., providing financial literacy and education that improves financial decisions)
- Providing small business or workforce training for underserved individuals interested in starting and growing a business
Amount: Awards range up to $25,000.
Eligibility: Federally chartered credit unions with a current “low-income” designation as set forth in NCUA’s Rules and Regulations. State chartered credit unions must have the equivalent low-income designation from their respective state supervisory authority and concurrence from NCUA. For more information on the LID visit: http://www.mycreditunion.gov/about-credit-unions/Pages/Low-Income-Credit-Unions.aspx.