WASHINGTON — The poor economy coupled with the rise inforeclosures is driving up the requests for “Innovation Grants”under a three-year-old program offered by the National Credit UnionFoundation.

“In addition to the number of requests, we're also seeing anincrease in the size of the applications–$49,000 in 2007 to$54,000–as well as witnessing the addition of new states to theprogram,” said Steven Bosack, deputy director.

Applicants for the grants aimed at assisting low wealthindividuals or those with modest means during a tight economicperiod include 19 CUs plus 10 community-based groups which partnerwith CUs along with various foundations and state leagues. So farthere have been 41 submitted in 2008 compared to 38 a year ago.