The NCUA announced Wednesday that it will begin taking applications Oct. 11 for its next round of mentoring grants to help Minority Depository Institutions. To be eligible, a credit union must be federally insured and designated as both a Minority Depository Institution (MDI) and a low-income credit union. Applications must be received by Oct. 29. Chairman Todd M. Harper encouraged MDIs to apply for the grants, which are up to $25,000 each and from a pool of $100,000. The grants support mentoring relationships that allow larger, experienced credit unions the opportunity to provide guidance to other MDIs. The NCUA’s website includes a grants page with a link to a 23-page guide called “MDI Mentoring Cohort: Guidance on Selecting a Mentor.”
