The National Credit Union Administration (NCUA) awarded $75,000 in grants to three low-income, minority depository institution credit unions to support mentoring programs with larger credit unions. Among recipients was FAB Church Federal Credit Union, of Savannah, Ga., with Georgia Heritage Federal Credit Union, also of Savannah, serving as a mentor.
The grants were funded through the NCUA’s Community Development Revolving Loan Fund allocation. The agency’s mentoring program helps small, low-income, minority depository institutions establish mentoring relationships with larger low-income credit unions to provide expertise and guidance in serving low-income and underserved populations. The larger credit unions will offer technical assistance, such as building staff capacity through training and improvements to credit union operations.
Learn more at the NCUA’s Office of Credit Union Resources and Expansion.