NCUA Grants go a Long Way Helping Northwest Credit Unions Serve Members
Cyber security improvements, and a turnkey debit card program are examples of how some of your colleagues leveraged grants.
If your credit union needs funds for digital security, leadership development, or outreach to underserved communities, a Community Development Revolving Loan Fund grant may be the answer. The National Credit Union Administration (NCUA) will accept applications from July 1 through August 18. NCUA will host an informational webinar June 13.
Applying for a grant is worth the little time it takes, according to Julianne Garren, CFO of Portland, Oregon-based NW Priority Credit Union. NW Priority received a $15,000 grant in 2016 to create an “Instant Issue Debit Card” program.
The program, Garren noted, shaved 5 to 7 days off the process of replacing breached or compromised debit cards.
“We also felt it would be beneficial for our new account process if members could leave the credit union with a new debit card, ready to go,” Garren said. “This has been very well received by our members.”
Portland’s Providence Federal Credit Union used a $7,500 grant to help pay for its NCUA Cyber Security Assessment in 2017/2018.
President/CEO Shirley Cate said the assessment helped the credit union to identify its cyber security strengths and areas for improvements.
“The difference for members is for them to be able to say that their credit union is ensuring that their information and money is safe and secure,” Cate noted. “It gives us peace of mind also.”
More information about the Community Development Revolving Loan Fund can be found online.
Editor’s note: Your Association is a resource if you need assistance with the NCUA grant application process. Reach out to John Trull, AVP, Regulatory Advocacy by emailing email@example.com.