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CDRLF Program
44.002
N/A
The purpose of the Community Development Revolving Loan Fund (CDRLF) is to expand access of financial products and services, and increase diversity, equity, and economic inclusion to underserved communities. Through the CDRLF, the NCUA provides financial support in the form of loans and technical assistance grants to low-income designated credit unions (LICUs) serving predominantly low-income members to modernize, build capacity, extend outreach into underserved communities, and respond to emergencies.
This chart shows obligations for the program by fiscal year. All data for this chart was provided by the
administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.
For more information on each of these data sources, please see the
About the data page.
For the 2016, Grant Round, received 1,430 applications totaling $9.6 million. Grants totaling nearly $2.5 million will help 309 low-income credit unions expand services to underserved communities, train staff, improve cybersecurity and provide students with work experience.
Funding Information:
309 CREDIT UNIONS RECEIVED $2,499,187 IN GRANT AWARDS. THE 309 OSCUI PROGRAM AWARD RECIPIENTS ARE LOCATED IN 41 STATES, THE DISTRICT OF COLUMBIA, PUERTO RICO, AND THE VIRGIN ISLANDS. 50 ARE MINORITY DEPOSITORY INSTITUTIONS.
In the most recent round, NCUA awarded grants in four initiative areas: • Capacity and growth: NCUA awarded 116 grants, totaling $1,495,163, to credit unions expanding financial access to underserved communities through digital products, lending programs and other growth strategies. • Cybersecurity: NCUA awarded 112 grants, totaling $752,529, to help credit unions better protect member information and other sensitive data. • Student internships: NCUA awarded 33 grants, totaling $125,795, for credit unions to provide students with professional work experiences. • Staff training: NCUA awarded 48 grants, totaling $125,700, for credit unions to train staff in areas like lending, collections and governance. For the 2016, Grant Round, received 1,430 applications totaling $9.6 million. Grants awarded total to approximately 2.5 million will help 309 low-income credit unions expand services to underserved communities, train staff, improve cybersecurity and provide students with work experience.
Funding Information:
309 CREDIT UNIONS RECEIVED $2,499,187 IN GRANT AWARDS. THE 309 OSCUI PROGRAM AWARD RECIPIENTS ARE LOCATED IN 41 STATES, THE DISTRICT OF COLUMBIA, PUERTO RICO, AND THE VIRGIN ISLANDS. 50 ARE MINORITY DEPOSITORY INSTITUTIONS.
In the most recent round, NCUA awarded grants in four initiative areas: • Capacity and growth: NCUA awarded 116 grants, totaling $1,495,163, to credit unions expanding financial access to underserved communities through digital products, lending programs and other growth strategies. • Cybersecurity: NCUA awarded 112 grants, totaling $752,529, to help credit unions better protect member information and other sensitive data. • Student internships: NCUA awarded 33 grants, totaling $125,795, for credit unions to provide students with professional work experiences. • Staff training: NCUA awarded 48 grants, totaling $125,700, for credit unions to train staff in areas like lending, collections and governance.
415 applications totaling $4.4 million were received during FY17. 274 applications totaling $2.4 million was awarded during FY17.
243 applications totaling $2.5 million were received during FY18. 203 applications totaling $2 million was awarded during FY18.
The NCUA received 250 technical assistance and urgent need grant applications totaling $6.5 million, and awarded more than $2.0 million in technical assistance and urgent needs grants to 166 low-income designated credit unions. 63 percent of the minority depository institution (MDI) credit unions that applied for a grant received an award, exceeding the agency’s 40 percent target/goal for FY 2019. Recipients of these funds used them to increase their digital services and improve their levels of cybersecurity preparedness, engage in leadership and career development, and improve access to financial services in underserved areas. In addition, four credit unions received $1.0 million in low-interest loans during the year to expand product offerings to their members.
Implementation of Mobile/Online Banking Features; Remote Workforce Management and Solutions; and/or Strengthen Cybersecurity. Credit union growth and expansion, such as growing the membership or the loan portfolio; Improved management and operations, such as leadership training, developing new policy and procedure documents, or responding to exam or audit findings; Increased credit union capabilities, such as introducing a new program or service or improving credit union systems; and/or Other (applicants will have opportunity to justify additional projects). New or expanded outreach efforts, such as developing partnerships with other organizations to assist the needs of low wealth persons and households; New or expanded financial education programs, such as providing small business or workforce training for minorities interested in starting and growing a business; or New or expanded financial products or services, such as developing and implementing a new product or program tailored to underserved and minority groups, like a first-time homeowner program.
Single Audit Applies (2 CFR Part 200 Subpart F):
For additional information on single audit requirements for this program, review the current Compliance Supplement.
OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.
