2024 CDRLF Grant Round
ID: 353322Type: Posted
Overview

Buyer

National Credit Union Administration (NCUA)

Award Range

$0 - $50K

Eligible Applicants

Others

Funding Category

Community Development

Funding Instrument

Grant

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Original Source

https://grants.gov/search-results-detail/353322

Additional Information

https://ncua.gov/support-services/credit-union-resources-expansion/grants-loans/grants
Timeline
    Description

    The National Credit Union Administration (NCUA) is offering the 2024 CDRLF Grant Round, which provides technical assistance grants aimed at low-income designated credit unions (LICUs) to enhance their financial services and stimulate economic growth within their communities. The program allocates up to $3,465,000 for various initiatives, including training, digital services, and outreach to underserved populations, with a focus on empowering LICUs to better serve their members. Applications for these grants will open on May 1, 2024, and must be submitted online by July 1, 2024, with awards ranging from $0 to $50,000. For further details, applicants can contact the NCUA's Office of Credit Union Resources and Expansion at 703-518-6610 or via email at CUREAPPS@ncua.gov, and additional information is available on the NCUA Grants page.

    Point(s) of Contact
    CUREAPPS@ncua.gov
    Files
    Title
    Posted
    NCUA-CDRLF-2024G Notice of Funding Opportunity .pdf
    NCUA-CDRLF-2024G.pdf
    The National Credit Union Administration (NCUA) has announced a Notice of Funding Opportunity (NOFO) for the Community Development Revolving Loan Fund (CDRLF) Grants aimed at low-income-designated credit unions (LICUs). The goal is to provide technical assistance grants that empower LICUs to enhance financial services and stimulate economic growth in their communities. Up to $3,465,000 is allocated for various initiatives, including training, digital services, consumer financial protection, and outreach to underserved populations. Eligible applicants must be LICUs, with specific size limitations on assets for certain initiatives, while others, like Minority Depository Institutions (MDIs), have no asset caps. Applications open on May 1, 2024, and must be submitted online by July 1, 2024. The evaluation process will assess eligibility and completeness, followed by a scoring system for funding decisions. Award recipients must comply with various administrative regulations and maintain good standing with past agreements. This NOFO emphasizes the NCUA's commitment to support credit unions that serve underserved communities and promote their growth through targeted financial assistance.
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