Markets Wired

Deadline for Nominations for the Second Semester Is May 31

ALEXANDRIA, Va. (Jan. 5, 2017) – The National Credit Union Administration will provide consulting services to 153 small, federally insured credit unions during the first half of 2017, the agency announced today.

All the credit unions selected for the consulting program have assets of less than $100 million, and nearly half have assets of less than $10 million. Sixty-two percent are credit unions with a low-income designation, and 19 percent are designated as minority depository institutions.

“NCUA’s consulting program has helped hundreds of small credit unions up their game, and I hope more of them will take advantage of this opportunity in future rounds,” NCUA Board Chairman Rick Metsger said. “Our economic development specialists offer valuable advice with the kind of strategic planning that promotes growth, innovation and better member services.”

NCUA’s consulting services, offered through the agency’s Office of Small Credit Union Initiatives, provide participating credit unions with assistance in areas that include developing growth strategies, planning for new products and creating succession plans. Credit unions chosen for the consulting program work with an experienced NCUA economic development specialist for a six-month semester. The services are provided at no charge.

NCUA is accepting consulting program nominations for the second semester of 2017, which runs from July 1 through Dec. 31. NCUA must receive nominations by May 31 at 5 p.m. Eastern. A credit union can nominate itself or be nominated by an NCUA or state examiner. To be eligible for consulting assistance, a credit union must have assets of less than $100 million, have been chartered for fewer than 10 years, have a low-income designation or be a minority depository institution.

NCUA’s Office of Small Credit Union Initiatives fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions, minority depository institutions and credit unions with a low-income designation.