NCUA Announces Availability of $3.6M in CDRLF Funding Available

The National Credit Union Administration (NCUA) Wednesday issued a Notice of Funding Opportunity (NOFO) to announce the availability of loan awards for low-income designated credit unions (LICUs) through the CDRLF program.

The CDRLF program provides financial support in the form of loans and technical assistance grants that enable LICUs to better support the communities in which they operate. CDRLF loan awards typically range from $250,000 to $500,000. All awards made under the NOFO are subject to funds availability and are at the NCUA's discretion.

According to the funding notice, there is $3.6 million available through the CDRLF loan awards program for qualified credit unions.

Loan amounts typically range from $250,000 to $500,000; all awards are subject to funds availability and the NCUA's discretion.

Loans provided to credit unions through this program have lower-than-market interest rates and are a great source of liquidity and support for LICUs.

CUNA and the state leagues have continually urged Congress to fully fund the program to ensure credit unions can continue to provide financial stability for low-income members and their families.

Information about funds available and eligibility requirements is available here.