Small and low-income designated credit unions can now seek free consulting services for the first half of next year, the NCUA announced on Tuesday.
Credit unions with total assets under $50 million, a charter under 10 years old or a low-income designation are all eligible for the service from the Office of Small Credit Union Initiatives.
The agency said credit unions can nominate themselves or be nominated by their NCUA examiner.
“Often small and low-income credit unions don’t have the resources to hire consultants to improve their operations, but NCUA can help,” Board Chairman Debbie Matz said in a statement on Tuesday.
“NCUA’s consulting services are provided by experienced economic development specialists who offer assistance to credit unions in the areas of budgeting, marketing, policy development, strategic planning and operational and regulatory areas,” the agency said in the press release.
Credit unions can submit an application online until Nov. 30 at 5 p.m. and those selected will receive the help for six months. Those that are not selected can apply again in the next round, the NCUA said.