Northwest Credit Unions can Learn About NCUA’s 2019 Low-Income Grants in Upcoming Webinar
Qualifying credit unions are encouraged to apply early and contact their Association for assistance.
To assist credit unions through the National Credit Union Administration’s 2019 grant application process, an informational webinar discussing the grant initiatives is scheduled for May 22 on the NCUA website.
Information about the webinar will be posted soon. The webinar will available for viewing for three weeks following the live webcast.
Qualifying Northwest credit unions interested in applying for a grant are encouraged to apply early and contact the Association for assistance, especially first-time applicants. For information, see the NCUA’s 2019 grant application guidelines. Grant applications will be accepted from June 2 through July 20.
Currently, 106 of the 159 federally insured credit unions headquartered in Idaho, Oregon, and Washington have low-income designation.
“In addition to qualifying for grants, low-income–designated credit unions receive a variety of benefits, including exception from the business lending cap, eligibility for NCUA grants, the ability to accept nonmember deposits, and authorization to take secondary capital,” said Northwest Credit Union Association Vice President of Regulatory Affairs, John Trull. “The low-income designation and grant application processes take a bit of time, but the potential benefit far outweighs the effort.”
Since 2015, 93 grants have been awarded by the NCUA to Northwest credit unions. Your Association is dedicated to ensuring that member credit unions continue to successfully leverage their low-income designation. For information or assistance, please contact John Trull.