The NCUA announced $1.2 million in grants is available to low-income credit unions for the second round of this year's Community Development Revolving Loan Fund.
In a Wednesday release, the NCUA said it will accept applications from June 2 to June 30. Each applicant can apply in any of the four grant categories. However, each credit union may only receive funding in a single category, the NCUA said.
Under the Community Development Financial Institution Certification category, the agency anticipates awarding 60 credit unions $2,500 each to cover the cost of applying for CDFI certification. A certified credit union is able to receive funding to assist low-income members and communities lacking access to affordable financial services.
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