ALEXANDRIA, VA (August 11, 2014) – The National Credit Union Administration is providing 179 federally insured credit unions with free consulting services in the second half of 2014 though the agency’s Office of Small Credit Union Initiatives.
“OSCUI’s consulting program is a valuable part of our efforts to help credit unions succeed in a changing economic environment and provide needed services to their members,” NCUA Board Chairman Debbie Matz said. “Consultants help credit unions think strategically, develop plans and position themselves for future success.”
NCUA’s consulting services are provided during a six-month semester by experienced Economic Development Specialists who offer assistance in the areas of budgeting, marketing, policy development, strategic planning, operational and regulatory areas. Credit unions eligible for the consulting program include those with total assets of less than $50 million, those that have been chartered for fewer than 10 years, those with a low-income designation and minority depository institutions. Credit unions may self-nominate or be nominated by an NCUA or state examiner.
The smallest credit union in the current consulting program has assets of $87,000; several exceed $100 million in assets. Twenty-one percent of the credit unions in the current program are minority depository institutions.
The Office of Small Credit Union Initiatives is currently accepting consulting program nominations for the first half of 2015. An online nomination form is available here. The deadline for submitting nominations is Nov. 30 at 5 p.m. Eastern. Interested credit unions can learn more about NCUA’s consulting program by visiting the consulting web page or by emailing the Office of Small Credit Union Initiatives at oscuimail@ncua.gov.
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.