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NCUA Urgent Needs Grants Available After Hurricane Florence

Grants Up to $7,500, Agency Can Assist Credit Unions with Applications

ALEXANDRIA, Va. (Sept. 24, 2018) – Low-income credit unions sustaining damage from Hurricane Florence are eligible for urgent needs grants up to $7,500 from the National Credit Union Administration to help restore operations.

Credit unions can apply through the NCUA’s CyberGrants management system. Severely affected credit unions may contact their NCUA examiners to apply.

Credit unions may apply for funds to repair or replace credit union office property, machinery, equipment, fixtures, and leasehold improvements. Grant funds may also be used to resume operations, such as reconstructing data or reestablishing network systems. Funds will be provided to the extent that the expenditures requested by the credit union are not reimbursable under an insurance policy.

Credit unions should receive notice of approval within two weeks of application. At that point, they can pay for necessary repairs or replacements and expect to receive their grants within two weeks after submitting a reimbursement request.

Credit unions with questions about the urgent needs grants process can contact CURE by email at CUREAPPS@ncua.gov or by telephone at 703-518-6610.



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 United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
Mobile: 571.438.0801
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223
bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"

9/24/2018 10:08 AM