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ALEXANDRIA, Va.-NCUA has named the recipients of its 2004 technical assistance grants for low-income credit unions, which totaled more than $1.2 million In 2004, the agency structured the TAG grants to target specific initiatives in an effort to encourage low-income designated credit unions to “establish or further develop innovative programs to assist their members and communities,” NCUA Chairman JoAnn Johnson said. “While we are pleased with the innovative grant proposals in 2004, next year we look forward to enhancing the grant process so more low-income designated credit unions may participate in the TAG program,” she added. “Credit unions are at the forefront of developing successful, sound and innovative initiatives to serve their members, low-income neighborhoods, and communities.” Congress granted NCUA $1 million for the TAG grants, on top of interest earned through the NCUA’s Community Development Revolving Loan Fund investments. Another $200,000 went toward the CDRLF’s loan fund. Grant awardees include: * $448,303.22 was awarded to offset the costs of enhancing technology. * The agency awarded $82,035.15 for expanding service into underserved areas. * $80,682.90 in grants was given out for financial education efforts. * $16,681 was awarded for homeownership assistance programs. * $25,920.90 in grants was provided to bolster Individual Development Accounts. * NCUA awarded $37,420 for international remittance programs. * $7,077.50 was awarded for mentoring programs between well-operated and low-income designated credit unions. * $155,528.17 in grants was given for officer and staff training assistance. * $63,281.25 was provided to help fund student internships. * Grants totaling $56,322.01 were awarded for Volunteer Income Tax Assistance programs. In addition, NCUA awarded $244,276.46 in grants solely from the earnings achieved through CDRLF investments.

 

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