Grants

Small Credit Union Grants

 

How to Apply for a Small Credit Union Grant

The New York Credit Union Foundation provides credit unions with financial assistance for general operating needs that will ultimately help to improve member service.

The New York Credit Union Foundation provides small credit unions with financial assistance for general operating needs that will ultimately help to improve member service. A small credit union, as defined by the NCUA is $50 million in assets and below.

Application Process


The online application form can be completed and submitted online if you have Adobe Acrobat Reader version 6 or higher installed. Please note that you will not be able to save the document electronically. Be sure to print a copy for your files before hitting the “Submit” button. If you are unable to submit the application via e-mail, please print the application and mail it to us.

Grant Range


$100 - $2,500

Eligibility Requirements


All federal- and state-chartered credit unions located in New York State that are $50 million and under in assets are eligible to apply. The total amount of a grant award will vary for members and non-members of the Credit Union Association of New York.

Use of Grant Funds

Small Credit Union Grants are available to assist credit unions with a variety of operating needs. Funds may be used for, but not limited to:
• Technology
• Security Upgrade and Improvements
• Operations
• Consulting Services, including Strategic Planning

The applicant may request reimbursement for a purchase or service acquired between January 1 and December 15, 2014.

Deadlines

Small Credit Union Grant applications may be submitted throughout the calendar year or until grant funds have been depleted.

 

Review Criteria

NYCUF will evaluate the grant application based on your credit union’s financial need and performance.

Applications must have clearly defined goals and objectives.

Applications must be accompanied by a project budget and other pertinent supporting documentation.

Incomplete grant applications will not be considered.

Grant Award Limits


For Small Credit Union Grants, the award limit is $2,500 per credit union per calendar year. If eligible, this does not mean that your credit union is guaranteed $2,500. This is a competitive grant making process; applications are reviewed based on specific criteria for each program.

Please note: Each credit union is eligible for a maximum of $4,500 in total grant funding per year. This includes all Professional Development, Small Credit Union and Smart Money grants.

These guidelines are subject to modification at any time and are contingent upon the availability of funds. Unique circumstances may result in scholarship awards beyond the guidelines and by applying for a Small Credit Union Grant does not guarantee funding or the full funding allotment.

 

Funding Source
Funding is made possible thanks to New York credit unions that participate in the Community Investment Fund (CIF).