Low-income credit unions that need help digging out from under Hurricane Sandy can access grants, the NCUA said Tuesday in a release.

The NCUA emergency assistance grants can provide up to $7,500 to cover expenses so credit unions can repair damage or replace equipment to restore service to members, the agency said.

The Urgent Needs Initiative, which funds the grant program, is backed by the Community Development Revolving Loan Fund, a fund created by Congress to support credit unions that serve low-income communities. The NCUA's Office of Small Credit Union Initiatives administers the CDRLF, including the Urgent Needs Initiative.

Low-income designated credit unions in need of grant assistance may apply online.

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