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News Now

Washington
Information on NCUA TAG grants available
ALEXANDRIA, Va. (2/26/08)—The National Credit Union Administration (NCUA) has posted online its “General Guidelines 2008 Technical Assistance Grants (TAG) For Credit Unions” manual to assist those low-income designated institutions interested in applying for available funds. For fiscal years 2008 through 2009, Congress appropriated $975,000 to the Community Development Revolving Loan Fund (CDRLF) for the purpose of making grants. In addition to the appropriation, income earned on the CDRLF’s loans and the investment portfolios are also available for grant awards. The total funding is divided among the programs listed in the NCUA manual, which names and describes each initiative and notes application periods. Pages four and five of the NCUA guide include the following information:
* The application period for the Building Internal Capacity/Technology grant initiative opens March 7 and closes April 25. There is $300,000 allocated to the program, the maximum grant ward is $7,000, and awards will be announced June 20; * For Enhancing Member Services grants, the NCUA will accept application from May 2 to July 11 and has $400,000 for these awards. The maximum grant under this initiative is $15,000 and grants will be announced Sept. 5; * The application period for Staff, Official, and Board Member Training grants is currently open and will remain so until its $120,000 appropriation is exhausted. The maximum grant is $3,000; * The application process for Student Internship awards is currently open and will remain open until the program’s $85,000 funding is exhausted. The maximum amount per grant under this initiative is $3,000; * Starting May 12, low-income designated credit unions may apply for maximum grants of $6,500 under the Volunteer Income Tax Assistance program. The NCUA will cease taking applications when the programs $100,000 has been awarded; and * Applications for Urgent Needs Grants, for a maximum of $3,000 per grant, are currently being accepted. No closing date is noted in the manual.
Also included in the manual is information of such topics as: the way the NCUA’s grant process works; where can credit unions obtain grant applications; how grant applications are evaluated; and what factors might cause an application to be denied. Use the resource link below to access the NCUA information.
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