ALEXANDRIA, Va. ― Low-income-designated credit unions affected by natural disasters, including hurricanes, flooding, and other severe weather events, can apply for grants through the Community Development Revolving Loan Fund (CDRLF) Newly Chartered and Urgent Need program, NCUA is reminding.
Eligible credit unions can receive up to $15,000 to support urgent recovery needs and help restore financial services for members. Grant funds may be used for the following activities:
- Repairing damage to the credit union caused by a natural disaster
- Replacing equipment needed to immediately restore services to members following an unexpected event, such as a storm-related power outage
- Providing financial services to members affected by the disaster, such as a special loan program to help cover members’ costs of recovering from the event
Additional Info
NCUA said credit unions interested in applying should review the Newly Chartered and Urgent Need Grant Guidelines for eligibility requirements, allowable uses of funds, and application instructions.
“While there is no deadline for the application, affected credit unions should apply as soon after the emergency event as possible to ensure timely disbursement of grant funds,” the agency said.
NCUA added credit unions with questions about the urgent need grants process can contact CURE by email at [email protected] or by telephone at (703) 518-6610.
