NCUA announces free consulting for LICUs

NCUA announced on Tuesday it would offer free consulting to small or new credit unions as well as those designated as low-income during the first half of 2014 – including consulting on budgeting, marketing, policy development, strategic planning and operational and regulatory issues.

“Often small and low-income credit unions don’t have the resources to hire consultants to improve their operations, but NCUA can help,” said board Chairman Debbie Matz. “The Consulting Program provides valuable technical assistance to small and low-income credit unions at no charge. Our program also demonstrates NCUA’s commitment to ensuring that these credit unions remain viable in the long run.”

The program will be offered through the agency’s Office of Small Credit Union Initiatives, and will be available to low-income designated credit unions and credit unions with either a charter created in the last 10 years or under $50 million in assets. Credit unions can nominate themselves or be nominated by their NCUA examiner, and can apply again if not chosen for the first round. Other areas of consulting will include policy development and operational and regulatory issues.

The deadline for nominations is Nov. 30 at 5 p.m. Eastern. More information, and instructional videos about the program, are available at the NCUA website.

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