RANCHO CUCAMONGA, Calif. – The California Credit Union League's Shapiro Group is providing grants to small credit unions to help them complete or update their policies, and to hold strategic or scenario planning sessions. Under the policy assistance program, the Shapiro Group will reimburse CUs of up to $20 million in assets a maximum of $1,000 a year for fees the credit union paid to a consultant to help write or update policies on a variety of operational issues. To be eligible for the grant, credit unions must apply and obtain approval for the grant before retaining a consultant's services. The maximum grants for planning sessions vary with the type of session and the CU's assets. Scenario planning benefits range from a maximum of $1,500 for CUs between $10 million and $20 million in assets; to $2,000 for CUs between $5 million and $10 million in assets; and to $3,000 for CUs with up to $5 million in assets. Depending on a CU's asset category, maximum grants for strategic planning sessions range from $750 to $2,000. "Both of these grant programs will allow smaller credit unions to hire consultants to perform these services, which will enable them to maintain their uniqueness and better serve their members," said Kim Bannan, league vice president of credit union development.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.