Credit unions with the National Credit Union Administration’s (NCUA) low-income designation can still apply by Dec. 16 for a portion of the more than $3.4 million in grants being made available by the agency, according to a release Monday.
The NCUA announced the 2025 grant availability in September. To recap, the agency then said the grants, issued by the agency’s Community Development Revolving Loan Fund (CDRLF), are available in five initiatives and one pilot initiative. The six categories are:
- Impact Through Innovation Pilot Initiative (maximum award of $100,000) – Providing Phase III funding for credit unions that received grants in 2023.
- New Charter Capacity Building (maximum award of $50,000) – Assisting newly chartered credit unions to increase capacity and better serve members.
- Underserved Outreach (maximum award of $50,000) – Helping credit unions expand access to underserved communities and improve members’ financial well-being.
- Student Internships (maximum award of $25,000) – Enhancing credit unions’ ability to offer internships to high school and college students to gain experience working in a credit union.
- Technology, Cybersecurity, and Artificial Intelligence (maximum award of $25,000) – Giving credit unions greater access to affordable digital financial products and to implement artificial intelligence services.
- Training (maximum award of $25,000) – Funding activities such as succession planning, leadership development, and consumer financial protection training.
The agency encouraged interested credit unions to view a pre-recorded webinar explaining how to apply for a 2025 CDRLF grant. See the press release for additional details.
Release: Reminder | NCUA Currently Accepting CDRLF Grant Applications Through Mid December
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