A total of $3.47 million in grants across six initiatives promoting innovation, capacity building, training and more were awarded to 97 low-income-designated credit unions, the federal credit union regulator said Monday.
The National Credit Union Administration (NCUA) said the grants, awarded through the Community Development Revolving Loan Fund (CDRLF), ranged in amount from $1,800 to $100,000; they went to credit unions in 36 states and Puerto Rico.
The agency said it made awards in six categories:
- Impact through Innovation (Pilot Program): 3 grants totaling $300,000
- New Charter Capacity Building: 5 grants totaling $175,000
- Student Internship: 7 grants totaling $175,00
- Technology, Cybersecurity, and Artificial Intelligence: 35 grants totaling $752,200
- Training: 5 grants totaling $103,800
- Underserved Outreach: 42 grants totaling $1,959,000
The agency said 79 of the recipient credit unions were small institutions and 18 were first-time applicants.
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