The National Credit Union Administration (NCUA) is issuing a Notice of Funding Opportunity (NOFO) for the 2024 Community Development Revolving Loan Fund (CDRLF) Grant Round. This grant opportunity provides up to $3,465,000 in technical assistance grants for low-income-designated credit unions. The grants will be awarded across six funding initiatives: Training, Digital Services and Cybersecurity, Consumer Financial Protection, MDI Capacity Building, Underserved Outreach, and Impact Through Innovation. Eligible applicants must be low-income-designated credit unions that meet the eligibility requirements defined in 12 C.F.R. Part 705. The application period opens on May 1, 2024, and closes on July 1, 2024. The NCUA will review applications for eligibility and completeness, and successful applicants will be notified by email and in a press release.
The maximum award amounts range from $5,000 to $100,000, depending on the initiative. The CDRLF is authorized under 12 U.S.C. 1772c-1 and governed by 12 C.F.R. Part 705. The grants are intended to expand access to financial products and services in underserved communities, with a focus on increasing diversity, equity, and economic inclusion.
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