The NCUA announced that low-income designated credit union could begin applying last week for grants and low-rate loans. The NCUA also posted a new YouTube video about the Community Development Revolving Loan Fund application process.
"This year, we are making $1.3 million available for grants and $11 million for lending. To help more credit unions access these funds, we have created a new video that highlights how the program works and the new, streamlined application process," said NCUA Chairman Debbie Matz.
"All of NCUA's work to improve our grant and loan programs reflects the agency's strong commitment to help low-income credit unions thrive," she added. "Low-income credit unions are extremely important to their communities. They fill a crucial role by providing needed access to financial products and services for individuals of modest means. These grants and loans are designed to provide vital assistance to low-income credit unions."
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