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New Carolinas Foundation grants to aid small CUs’ tech and capital improvements

Tuesday, June 8, 2021   (0 Comments)
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Carolinas CU League, CUNA Mutual Group join in $50,000 contribution to available funds

League CEO Dan Schline, Small CU Roundtable Co-Chair Genice DeCorte, and Foundation President Lauren Whaley recognize the League and CUNA Mutual Group's  joint contribution of $50,000 to the Foundation’s Technology and Capital Improvement Grants program with June 7 Small CU Workshop participants, CUNA Mutual Group Director of National Account Sales Thomas Heyden, and Small CU Roundtable Co-Chair Travis Hall.

ASHEVILLE, NC (06/07/2021)—A new Technology and Capital Improvements Grant Program by the Carolinas Credit Union Foundation seeks to bolster the service efforts of smaller credit unions by supporting their strategic upgrades, the Foundation announced today at the Carolinas Credit Union League 2021 Annual Meeting in Asheville.

The program, aided by a joint contribution of $50,000 by the League and CUNA Mutual Group, is open for applications through August 1 by credit unions of up to $100 million in assets that plan to pursue the following categories and examples of improvements.

  • Technology or Security Upgrades: Mobile app development, IT enhancements, compliance with Part 748 of NCUA Rules and Regulations
  • Capital Improvements: Computer and voice communications upgrades, facility renovations
  • Underserved Outreach: Shared branching, CDFI certification
  • Consulting Services: Asset-liability management, strategic planning

“The League and our Board of Directors appreciate the Foundation’s work in creating this new opportunity for small credit unions to take big steps forward,” League CEO Dan Schline said of the program. “We and CUNA Mutual Group joined the effort early because we are committed to helping credit unions look beyond any current limitations and envision ongoing success.”

The Carolinas Foundation’s Technology and Capital Improvements Grants will be awarded in August 2021 based on the number and nature of requests received, with a maximum grant amount of $15,000. Applications must clearly define intended project goals, objectives, and budget, and grant recipients must outline for the Foundation the fund usage following project completion.

Read more on the Technology and Capital Improvements Grant Program and apply by August 1, 2021.

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