The NCUA announced Wednesday that 22 low-income credit unions have been awarded grants that will pay for student interns this summer.
The credit unions, located in 16 states, received a combined total of $80,000 from the Community Development Revolving Loan Fund.
According to the NCUA's release, competition for the funds was fierce. More than 40 applications for more than $150,000 in funding requests were received on May 1 alone, the day the application period opened.
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