The United States Department of Agriculture has approved a grant request by the National Credit Union Foundation (NCUF) totaling $400,000 to support rural-based credit union financial literacy and housing counseling.
The grant is being funded through USDA's Rural Community Development Initiative (RCDI). With an additional dollar-for-dollar match from participating credit unions and the NCUF, the total grant budget is $800,000.
"Our reach to partners outside the traditional funding sources within the credit union industry helps us bring additional dollars to projects that support our mission," said NCUF Executive Director Gary Officer. "This new relationship with the USDA gives us the opportunity to increase our capacity to help financial literacy initiatives and counseling services for some Americans most in need-those in rural communities who have limited access to affordable financial services."
The grant proposal was submitted to the USDA in September on behalf of five rural credit unions. Credit unions involved in the RCDI project will be located in: Vermont, Kentucky, Mississippi, Montana and Texas.
For info: www.ncuf.org.
