Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
204 grants equaling more than $1M got to 174 LICUs

ALEXANDRIA, Va. (8/4/14)--On Friday, the National Credit Union Administration announced it  awarded $1,051,850 through 204 grants given to 174 low-income credit unions (LICUs).

The funding was given under the second 2014 round of Community Development Revolving Loan Fund grants. The agency's Office of Small Credit Union Initiatives administers the fund, which the U.S. Congress established to provide grants and loans to credit unions serving low-income communities.

The grants can be used for such things as to expanding services to members, training staff and collaborating for greater operational efficiencies.

 
Click to view larger image Source: NCUA

Also, new product or service grants can fund activities like a credit union building its first website or expanding into mobile banking, online applications, card services or home banking. Staff and volunteer training grants support training on lending and collections, governance, compliance and financial counseling for front-line staff to provide to members.

Certification grants help credit unions to apply to the U.S. Department of the Treasury to become a Community Development Financial Institution. Treasury's CDFI Fund provides resources to financial institutions serving low-income households and communities that lack adequate access to affordable financial products and services.

Use the resource links to access the grantees for this round of CDRLF awards and to read about the NCUA's year-round Urgent Needs grant program for emergency assistance.

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
3 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
3 hours ago