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Small CUs Have Until May 31 to Apply for NCUA Assistance
Monday, May 8, 2017 6:30 AM

Qualified credit unions interested in applying for consulting assistance from the National Credit Union Administration must submit nominations by May 31, according to the agency.

Eligible credit unions should complete the agency's online application form. Credit unions can nominate themselves or be nominated by examiners from NCUA or a state regulator. Each credit union can choose its top three requests from a menu of services.

Credit unions chosen to participate will be assigned an economic development specialist to assist them.

To qualify for NCUA's consulting assistance, a credit union must be in one of the following categories:

  • Have total assets of less than $100 million;
  • Have been chartered for fewer than 10 years;
  • Be designated as a Minority Depository Institution; or
  • Have a low-income designation from NCUA.

Credit unions not chosen may apply again in subsequent rounds.