ALEXANDRIA, VA (May 16, 2014) -- Credit unions that qualify to receive free consulting services from the National Credit Union Administration’s Office of Small Credit Union Initiatives have until May 31 to submit nominations, the agency announced today.
“NCUA’s free consulting program regularly delivers practical plans and technical advice that participating credit unions find highly valuable,” NCUA Board Chairman Debbie Matz said. “Because NCUA is committed to helping small, new, minority and low-income credit unions to remain viable, I encourage all qualified credit unions to submit a nomination.”
NCUA’s consulting services are provided by experienced economic development specialists who offer assistance to credit unions in the areas of budgeting, marketing, policy development, strategic planning and operational or regulatory areas. Selected credit unions receive assistance for a six-month period.
Qualified credit unions may submit a nomination through NCUA’s website. The deadline is May 31, 2014, at 5 p.m. Eastern.
To qualify for this consulting assistance, a credit union must fall into one of the following categories: total assets of less than $50 million, a new charter (fewer than 10 years), designation as a Minority Depository Institution or designation as a low-income credit union.
Credit unions may nominate themselves or be nominated by their NCUA examiner. Credit unions not chosen in one round may apply again in subsequent rounds. NCUA provides two consulting assistance rounds each year.
To learn more, credit unions are invited to view three videos providing information on the consulting program available online here. For additional information, please visit the consulting page for the Office of Small Credit Union Initiatives on NCUA’s website or email the Office of Small Credit Union Initiatives atoscuimail@ncua.gov.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 96 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. AtMyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..