The NCUA will open the first round of 2024 Community Development Revolving Loan Fund (CDRLF) grants to low-income-designated credit unions May 1, according to a press release from the agency Wednesday.
The agency noted minority depository institution credit unions are not eligible for funding in this year’s grant round if they do not have the low-income designation.
Low-income-designated credit unions can apply between May 1 and July 1. The agency will administer $3.4 million in grant funds to “the most-qualified applicants.” The NCUA is awarding grants in five categories and one pilot initiative.
Review the notice of funding opportunity for additional information.
America’s Credit Unions supports $6 million for the CDRLF in the federal government’s fiscal year 2025 budget and will continue to work with the NCUA on credit union priorities.
