NCUA awards $3.47 million in CDRLF grants to low-income credit unions
Low-income designated credit unions across the U.S. are receiving new federal support through the National Credit Union Administration’s Community Development Revolving Loan Fund program. The $3.47 million allocation reaches 97 institutions in 36 states and Puerto Rico, with most awards going to small credit unions.
Highlights
- NCUA awarded $3.47 million in CDRLF grants to 97 low-income credit unions, with individual grant amounts ranging from $1,800 to $100,000.
- Underserved outreach received the largest allocation at 42 grants totaling $1.959 million, while technology, cybersecurity, and AI categories secured $752,200 across 35 grants.
- The grants emphasize federal support for operational capacity, outreach, and technology modernization, with 79 small and 18 first-time credit union recipients.
Grant distribution across six funding categories
As announced by the National Credit Union Administration, the grants range from $1,800 to $100,000 and are directed to credit unions through six funding categories under the expanded CDRLF program.The largest share goes to underserved outreach, with 42 grants totaling $1.959 million. Technology, cybersecurity, and artificial intelligence account for 35 grants worth $752,200, while the impact through innovation pilot program provides three grants totaling $300,000.
Additional awards include five new charter capacity building grants totaling $175,000, seven student internship grants also totaling $175,000, and five training grants worth $103,800. Of the 97 awardees, 79 are small credit unions and 18 are first-time applicants.
Operational support for credit union expansion
The grant program is administered by NCUA’s Office of Credit Union Resources and Expansion, which supports credit unions seeking changes to their charters, bylaws, or fields of membership. The office also assists groups working to establish new credit unions.Information on the grant program and the full list of awardees is available on NCUA’s website. The latest awards underscore continued federal backing for operational capacity, outreach, and technology investment among low-income credit unions.
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