NCUA increases urgent needs grant funding to $1.4 million

Federal Issues NCUA Credit Union Covid-19

On April 10, the National Credit Union Administration (NCUA) increased funding to nearly $1.4 million for low-income credit union grants to cover costs resulting from Covid-19. As previously covered by InfoBytes, on March 23, the NCUA announced urgent needs grants to low-income designated credit unions, originally committing $800,000 in funding. The NCUA will award grants for up to $10,000 to eligible credit unions. Low-income credit unions must submit grant applications by May 22, and grants will be provided on a “first-come, first-serve basis until the earmarked funds are fully exhausted.” To apply for a grant, visit the CyberGrants portal here.