Credit unions interested in consulting assistance in the first part of 2017 have until Wednesday, November 30, to submit their nominations.
The goal of NCUA’s consulting program is to help eligible credit unions achieve long-term sustainability. Our team of economic development specialists provide individualized consulting services on a broad range of operational and strategic needs, including:
- Consumer compliance
- Field-of-membership expansions and capturing new markets
- Internal controls
- Merger guidance
- New products and services development
- Secondary capital
- Strategic planning
Additionally, assistance with net worth restoration plans or revised business plans is also offered.
To qualify for NCUA’s consulting assistance, a credit union must fall into one of the following categories:
- Have total assets of less than $100 million;
- Have been chartered for fewer than 10 years;
- Be designated as a minority depository institution; or
- Have a low-income designation from NCUA.
Eligible credit unions should complete the agency’s online application form. Credit unions may nominate themselves or be nominated by an NCUA examiner. To complete the nomination form, go to http://go.usa.gov/xK8cx.
Selected credit unions receive assistance during the subsequent six months. At the end of that period, all credit unions are graduated from the program. Credit unions not chosen may apply again in subsequent rounds. Interested credit unions can watch a short video about the benefits of NCUA’s consulting program at http://bit.ly/1is2tZV (opens new window).
For additional information about NCUA’s services to minority depository institutions, and small, low-income designated and newly chartered credit unions, contact NCUA’s Office of Small Credit Union Initiatives at firstname.lastname@example.org.