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NCUA Deadline for Free OSCUI Consulting is Nov. 30
Monday, November 17, 2014 6:35 AM

The National Credit Union Association announced Wednesday that the next deadline for credit unions interested in applying for free consulting help from the NCUA's Office of Small Credit Union Initiatives (OSCUI) is Nov. 30.

To be eligible for the consulting services, a credit union must hold assets of less than $50 million. Low-income designation and minority depository institutions are also eligible.

More than 400 federally insured credit unions and 26 new credit union organizers received consulting help from one of the NCUA's economic development specialists last year. The specialists work with institutions in areas such as field of membership expansion, strategic planning, marketing, and budgeting.

The agency said several factors help make the consulting relationship successful, including:

  • An engaged and motivated management team committed to implementing the ideas generated during the consulting.
  • The desire to explore problems and challenges and work with the consultant to develop creative solutions.
  • A willingness to form a real partnership with and include the economic development specialist in the implementation phase.

Click here for an online application. The next consulting round will start Jan. 1, 2015, according to NCUA.

Credit unions chosen to participate in this round of the program will be announced in December. For more information, e-mail OSCUI at oscuimail@ncua.gov.