NCUA Extends Community Development Grants

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ALEXANDRIA, Va. – NCUA said Friday it is expanding its community development revolving loan program to provide small grants to low-income credit unions to help fund financial education, student internships, jobs and community outreach.

In addition, grants are now available for credit unions to develop plans to apply for secondary capital from the U.S. Treasury’s Community Development Capital Initiative.

NCUA will continue to offer loans and grants to help certified low-income credit unions pursue staff and board training; enhance their technology and internal processes; offer the Volunteer Income Tax Assistance program; and meet emergency needs.

In all, $1.25 million is available for grants and $6.8 million is available for loans through NCUA’s community development fund this year.

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