The NCUA will make an additional $2 million available to low-income credit unions in the second round of Community Development Loan Fund grants in 2015, the agency announced today.
Money will be provided to fund new initiatives in four distinct areas aimed at expanding member services and protecting member data safety, the agency said. Credit unions may apply for the loans beginning June 1 and ending June 30 at 5 p.m. Eastern time. Applicants are eligible for different loans in different categories, but the requests may not exceed a total of $24,000, the NCUA said.
The four categories and their maximum loan amounts are as follows:
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