Katie BaileyThe National Credit Union Administration (NCUA) recently hosted the Community Development Financial Institutions (CDFI) Fund for a one-hour webinar, spotlighting upcoming grant opportunities and providing guidance on navigating the application process.
This spring, the Bank Enterprise Award Program (BEA) will open for applications. While primarily utilized by banks, credit unions can collaborate with these institutions to apply. The BEA supports CDFI-related activities, Distressed Community Financing, and Service activities. Later this fall, the Small-Dollar Loan (SDL) program will open, designed to expand consumer access to mainstream financial institutions and better serve underserved communities. In recent years, the SDL program has awarded over $18 million, with nearly $9 million going directly to credit unions. SDL grants are expected to follow a two-year funding cycle.
The League participated in the webinar and will make the recording available upon request once it’s released.
