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Deadline for Consulting Assistance from NCUA is May 31
Wednesday, May 6, 2015 6:35 AM

Credit unions have until the end of this month to apply for the latest round of consulting assistance from the National Credit Union Administration.

Applications are available online, and credit unions may apply themselves or be nominated by an NCUA examiner. The free consulting services are provided for six months, and institutions selected to participate will be announced in June.

"I encourage all qualified credit unions to submit a nomination for our consulting program," NCUA Board Chairman Debbie Matz said in a statement. "The world becomes more competitive every day. NCUA’s consulting program offers hands-on assistance and practical advice to help credit unions take advantage of opportunities in the marketplace and do an even better job of delivering affordable financial services to their members."

Eligible credit unions must have assets of less than $50 million, have been chartered for fewer than 10 years, be designated as a Minority Depository Institution, or have NCUA's low-income designation. CUs not chosen for this round may apply again next time. The next round of consulting begins in July.

More than 400 CUs received consulting assistance from NCUA last year, covering issues such as strategic planning, FOM expansion, marketing, budgeting, and more. The program is offered through the regulator's Office of Small Credit Union Initiatives.

More information on applying is available here.