Agency's small credit union office has $9.5 million in Revolving Loan Fund.
The NCUA’s Office of Small Credit Union Initiatives will accept applications for a $50,000 grant from Feb. 15 to March 15.
This year was a transformative year for credit unions. It was a year in which credit unions made the transition from the losses of recession to the stability and growth of recovery. During the year, the industry topped $1 trillion in assets and grew strongly to approach 94 million members.
Low-income credit unions that need help digging out from under Hurricane Sandy can access grants, the NCUA said Tuesday.
Community Promise FCU in Kalamazoo sponsored by same organization that sponsored one that vanished by merger last month in nearby Battle Creek.
Lakota Federal Credit Union will be a low-income designated credit union.
Low-income designated credit union is the first new charter for 2012.
More than 100 small credit unions awarded grants from among 331 applicants seeking more than $5 million.
NCUA Chairman Debbie Matz attended an Aug. 7 meeting in the White House’s Roosevelt Room in which President Barack Obama announced that low-income designated credit union lending would be included in the administration’s latest drought-relief package.
Says serving low-income communities has its challenges, but the additional planning and attention to projections and risk management are worth the effort.