NCUA Accepting Grant Applications Through Aug. 18
July 17, 2018
7/17/18WestEdge Credit Union staff members volunteer at Kids Fest in 2017 in Bellingham, Wash.
When WestEdge Credit Union in Bellingham, Wash., decided it wanted to focus on business development, volunteer recruitment, and succession planning, it put several strategies in place, including applying for a National Credit Union Association (NCUA) grant.
The credit union, with more than 4,500 members serving Whatcom County, was awarded a $22,500 grant. It used the money to implement the 2017-2018 strategic plan.
“Our vision was to share our mission, products, and services on a wide scale,” said Katie Zowada, CEO. “In turn, the process would foster relationships for potential like-minded volunteers and members.”
WestEdge met with local businesses and nonprofit leaders and spoke about their similar missions. The credit union’s staff heard about additional ways it could serve the community and local leaders learned how WestEdge’s existing products could serve their clients.
“It was a win-win exchange that continues today,” Zowada said. “We take what we learn and apply it to our policies and practices to live up to our motto, ‘solutions not excuses.’
“The grant of $22,500 goes a long way for a credit union with assets of $60 million,” she explained. “We will continue to invest in our members success by expanding diversified products, adding in-house certified counseling, and cultivating leadership to guide the future of WestEdge.”
Zowada urged other credit unions to take advantage of the grant availability. The NCUA’s Community Development Revolving Loan Fund provides grants and loans to low-income-designated credit unions. Grant funds have been used for expanding member services, such as the addition of ATMs, branch construction to serve members in un-banked areas, funding educational services, increasing credit unions’ capacity to serve its members, and much more.
The Northwest Credit Union Association will host a July 18 webinar to help credit unions navigate the grant application process. The webinar starts at 2:30 p.m. (PDT) and 3:30 p.m. (MDT). Credit unions can still register for the webinar here.
So far, twenty-two Northwest credit unions have been awarded 2017/2018 NCUA grants, totaling $236,195.
- Pocatello Simplot
- Lewis and Clark
- Central Willamette Community
- Northwest Community
- NW Priority
- Oregon State
- Cutting Edge
- United Advantage NW
- North Coast
- Mint Valley
The NCUA’s grant application cycle is open through Aug. 18. The Northwest Credit Union Association can help member credit unions navigate the application process. To learn more about the NCUA grant, visit its website.
Editor’s note: Your Association is a resource in helping you to prepare a solid grant application. John Trull, AVP, Regulatory Affairs, can provide insight and guide you through the process. Contact John by emailing firstname.lastname@example.org.
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