How to Apply for a Small Credit Union Grant
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 $100 million in assets and below.
The New York Credit Union Foundation – Grants
PO Box 15118
Albany, New York 12212-5118
$100 - $3,000 (Exception: $5,000 grant maximum available to assist with implementation of UsNet Shared Branching issuer services)
All federal- and state-chartered credit unions located in New York State that are $100 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 New York Credit Union Association.
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:
- Security Upgrade and Improvements
- Consulting Services, including Strategic Planning
The applicant may request reimbursement for a purchase or service acquired between January 1 and December 15, 2020.
The Foundation 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 $3,000 per credit union per calendar year. If eligible, this does not mean that your credit union is guaranteed $3,000. This is a competitive grant making process; applications are reviewed based on specific criteria for each program. (Please note: Small Credit Union Grants up to a maximum of $5,000 are available to assist with the implementation of UsNet Shared Branching issuer services).
Please note: Each credit union is eligible for a maximum of $5,750 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.