NCUA Board Chairman Debbie Matz said grants issued to 153 creditunions on Wednesday would help the institutions with staff andvolunteer training, and introduce the next generation of leaders tothe credit union system.

The low-income credit union grant recipients will receive atotal of $520,440 through the first Community Development RevolvingLoan Fund grant round this year. The NCUA's Office of Small CreditUnion Initiatives administers the program.

“NCUA works hard to help credit unions succeed, and investing incurrent and future staff is a good way to help them do what they dobest: Serve members and their communities,” Matz said.

According to the NCUA, $273,000 was allocated for staff andvolunteer training grants and $247,440 was awarded for studentinternships. The NCUA said the chosen credit unions provide affordable financial services tounderserved communities. Since 2001, the agency has received morethan $14.8 million in grant funding from Congress.

“These initiatives are down payments on the future,” OSCUIDirector William Myers said. “Customer service is a strong suit forcredit unions, and staff and volunteer training will help creditunions find ways to up their game.”

“Internships give students a sense of the possibilities ofcareers in the credit union system and an appreciation of theimportance of an affordable financial services alternative tolow-income households and communities that lack adequate access toaffordable financial products and services,” Myers added.

In total, 344 credit unions submitted applications thatcontained more than $1.7 million in funding requests. Theagency said credit unions with smaller assets and those not awardeda grant last year received priority for funding in this round.The NCUA encouraged low-income designated credit unions toparticipate in the agency's April 15 webinar about the initiativesthat will be offered in the second grant round.