ALEXANDRIA, Va. (Nov. 1, 2016) – Credit unions that qualify for consulting assistance from the National Credit Union Administration have until Wednesday, Nov. 30, to submit their nominations.
“NCUA’s program is a wonderful opportunity for credit union management to obtain one-on-one guidance from seasoned consultants,” said JeanMarie Komyathy, Acting Director of NCUA’s Office of Small Credit Union Initiatives. “The customized help is provided at no charge and offers credit unions a chance to explore different avenues for growing operations and expanding member services.”
Eligible credit unions should complete the agency’s online application form [link no longer available]. Credit unions may nominate themselves or be nominated by an examiner from NCUA or a state supervisory agency. Credit unions can choose their top three service requests from a drop-down menu included in the application form. Each credit union chosen to participate will be assigned an economic development specialist.
To qualify for NCUA’s consulting assistance, a credit union must fall into one of the following categories:
- Have total assets of less than $100 million;
- Have been chartered for fewer than 10 years;
- Be designated as a Minority Depository Institution; or
- Have a low-income designation from NCUA.
The 2017 consulting period runs from Jan. 1 through June 30. Credit unions selected for the consulting round will be announced in late December. Credit unions not chosen may apply again in subsequent rounds.
NCUA’s Office of Small Credit Union Initiatives fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions, minority depository institutions and credit unions with a low-income designation.