The NCUA said Thursday it has awarded $517,890 in grants to 127low-income credit unions.
|The money from the first round in 2014 of the CommunityDevelopment Revolving Loan Fund awards will be used for a varietyof projects, this time with a heavy focus on providing mobilebanking, the agency said.
|“It's important that credit unions offer up-to-date technologyto remain competitive in a rapidly changing industry,” NCUA BoardChairman Debbie Matz said in the announcement.
|The NCUA said 33 grants totaling $209,500 were awarded for newproducts and services, 54 totaling $208,390 were for studentinternships, and 40 for $100,000 were for CDFI certificationinitiatives.
|In this round 320 credit unions submitted grant applicationstotaling more than $2.3 million in funding requests, the NCUA said.A complete list of the grant winners, and grant application statusupdates, are online.
|The NCUA's Office of Small Credit Union Initiatives administersthe congressionally established Revolving Loan Fund which theagency said has received more than $12.8 million in grant moneysince 2001.
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