NCUA MDI Mentoring Grant Round Reopens Oct. 11; $100K Available

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Federally insured credit unions with both the minority depository institution (MDI) and low-income designations are eligible to apply for the National Credit Union Administration’s (NCUA) MDI mentoring grants between Oct. 11 and Oct. 29.

“The expiration of unemployment benefits and foreclosure and eviction moratoriums mean that low-income households and communities of color will face financial stress in the coming months,” NCUA Chairman Todd M. Harper said. “The NCUA’s mentoring grants program helps MDI credit unions provide greater opportunities for members to build financial security, make investments in communities, and help to close the wealth gap. I strongly encourage eligible MDIs to apply to this program.”

This grant round will provide approximately $100,000 to low-income credit unions with the MDI designation to support mentoring relationships that allow larger, experienced credit unions the opportunity to provide guidance to other MDIs.

Grant Application Requirements

Credit unions interested in these mentoring grants can find grant requirements, application instructions, and other important information on the Grants page of NCUA’s website. 

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