The NCUA will make $481,000 in technical assistance grants available designated low-income credit unions.
Each LICU will be able to receive up to $16,500 total, which can serve needs in three categories: achieving certification as a Community Development Financial Institution, purchasing certain new products, and hiring summer interns.
The U.S. Treasury Department's Community Development Financial Institutions Fund certifies financial institutions as CDFIs. CDFI recognition makes the credit union eligible for grants from the CDFI Fund.
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