Applications due in just three weeks for $1.5 million credit union community development grants

The deadline is June 24 for applying for more than $1.5 million in grants for underserved outreach and cybersecurity to eligible low-income-designated credit unions through a loan fund offered by the federal credit union regulator, the agency reminded Monday.

The National Credit Union Administration (NCUA) said the period for eligible credit unions to apply for 2022 grants offered through the agency’s Community Development Revolving Loan Fund (CDRLF) opened May 2.

The $1.5 million in grants, the NCUA has said, will go to the “most qualified” applicants in four categories: underserved outreach (maximum award, $50,000); small credit union mentoring (maximum award, $25,000; digital services and cybersecurity (maximum award, $10,000); and training (maximum award, $5,000).

To apply for a grant, the agency said eligible credit unions must have an active account with the NCUA’s System for Award Management (SAM) and a unique entity identifier number that credit unions receive when they register for a SAM account.

Low-income-designated credit unions with an existing registration with SAM must recertify and maintain an active status annually, the agency said. There is no charge for the SAM registration and recertification process; SAM users can register or recertify their accounts by following the instructions for registration on the agency’s website.

2022 Community Development Revolving Loan Fund Grant Round Application Guidelines