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(From NCUA) – Federally insured credit unions with both the minority depository institution and low-income designations are eligible to apply for the National Credit Union Administration’s MDI mentoring grants between October 11 and October 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,” said Chairman Todd M. Harper. “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. Credit unions will use the NCUA’s CyberGrants portal to submit their applications. Credit unions with questions about these grants may contact the NCUA’s Office of Credit Union Resources and Expansion at CUREAPPS@ncua.gov.
To apply for a mentoring grant, a low-income MDI credit union must have an active account with the federal government’s System for Award Management, a Data Universal Number System number (DUNS), and a Commercial and Government Entity number. First-time System for Award Management users can register by following the instructions in the Quick Start Guide for New Grantee Registration. Credit unions with an existing SAM registration must recertify and maintain an active status annually. They can recertify or renew their SAM account status by following the instructions in the Quick Start Guide for Updating an Entity Registration. Credit unions may obtain a Data Universal Number System number by visiting the Dun & Bradstreet website or calling 1.866.705.5711 to register or search for a DUNS number.