National Credit Union Administration: Office of Small Credit Union Initiatives Grant Program

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:

• Capacity Builder/Growth Initiative: This initiative provides an opportunity for credit unions with a vision for growth. Funding is available to credit unions that implement new lending strategies, deposit products, or other growth strategies to expand and increase financial access to underserved communities resulting in more opportunities.
• Cyber Security: This initiative is designed to assist credit unions in building the infrastructure needed to continually monitor and enhance the security of their systems and to protect member information.
• Staff Training: This initiative provides funds to train credit union staff and volunteers in areas related to credit union governance, management, and operations. Trainees may attend more than one training event, which can be in-person or web-based.
• Student Internship: This initiative provides students enrolled in high school or college with valuable work experience in credit unions. Credit Unions may hire students who have academic knowledge or interest in an area of credit union need such as marketing or information technology.

Amount: Awards vary by initiative, as follows:

• Capacity Builder/Growth Initiative: Up to $15,000
• Fraud and Cyber Security: Up to $7,000
• Staff Training: Up to $3,000
• Student Internship: Up to $4,000

Eligibility: Federally chartered credit unions with a current “low-income” designation as set forth in NCUA’s Rules and Regulations, Section 701.34. State chartered credit unions must have the equivalent low-income designation from their respective state supervisory authority and concurrence from NCUA.

Link: https://www.ncua.gov/services/Pages/small-credit-union-learning-center/services/grants-loans.aspx

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