The National Credit Union Administration announced that it has awarded $3.47 million through its expanded Community Development Revolving Loan Fund (CDRLF) grants program. The grants were awarded to 97 low-income designated (LID) credit unions.
Despite cuts to other government programs in 2025, NCUA assured credit unions last November that the program would operate as usual.
Of the 97 LIDs that were awarded funds, 18 were first-time applicants. The grants awarded ranged from as little as $1,800 to as much as $100,000, impacting credit unions in 36 states and Puerto Rico. Applicants could apply for up to two initiatives, though they could be awarded no more than one grant.
The initiatives credit unions could apply for included Phase III funding for the “Impact Through Innovation” pilot program; increasing capacity of new charters; expanding access to underserved communities; student internships; technology and cybersecurity improvements; and training (e.g. succession planning and leadership development).
For additional details, visit the NCUA website.
