January 2015
FOCUS is the monthly e-Newsletter of the Office of Small Credit Union Initiatives (OSCUI). It focuses on helping small credit unions achieve success by providing news and highlighting opportunities. Subscribe here.
topFeatured this Month (Click on a heading to go to the article.) 
Headliner:  What's on our plate for 2015 
In FOCUS with Bill:  Cross-focused
For Your Attention:  Round 1 grants coming soon
Partnerships & Outreach:  More to come
Happening in OSCUI:  Information and updates
HeadlinerWhat's on our plate for 2015

 

We are in "ready mode" to serve your credit union with consulting, partnership information, resources and training this year. We'll also continue to offer grants and loans for low-income designated credit unions. Each column for our four program areas this month - Consulting, Grants and Loans, Partnerships & Outreach and Training - is devoted to providing you with a preview of what to expect in that area for the year.

 

We look forward to working with you to help you better serve your members. Email us at Partners@ncua.gov with suggested newsletter topics.

 

 
 2015 OSCUI
Webinars

Eventscalendar Webinars begin at

2 p.m. Eastern and last 90 minutes.

Register on our website. 

 

Feb. 18

Understanding and Reaching the Under- and Unbanked Market: A Key to Long-Term Success

 

Mar. 25

 Successful Strategies for Field of Membership Expansion

 

Apr. 15

 New Products and Services for the NCUA Grant Program

 

Apr. 22

Credit Union Partnerships and Collaborations:

Success Stories 

 

May 20

 Cyber-Security:

The Basics

 

June 17

 Remittances and Other Money Transfer Services

 

July 22

 New Small Credit Union Examination Program

 

Aug. 19

 Small Credit Union Accounting Issues

 

Sept. 16

 Participation Lending in a Safe and Sound Manner

 

Oct. 21

 Data Mining:

Golden Nuggets for Your Marketing Campaign

 

Nov. 18

 Auto Lending

 

Dec. 16

 Getting Started in Mortgage Lending

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We value your input. Email suggestions for webinar topics to our Training division at

oscuiTraining@ncua.gov. 

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Connect with us!

inFocusIn FOCUS with Bill

Cross-focused

 Bill in his office           

Small business is a bulwark of our economy, an important, robust, vibrant and growing sector. Small businesses are finding and opening new markets. Small business creates two out of every three net new jobs.

 

Do small credit unions matter in the same way? Is the success of smaller credit unions vital to the future of the credit union movement?

 

Here's the key: small leads to big. Over this past decade, more than 600 small credit unions became big. There are more than 4,000 small credit unions (under $50 million in assets). Of these, about 49 percent grow each year, 46 percent shrink. [Read the entire article.]

 

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AdvisoryFor Your Attention

     

2015 Grant Round 1 ad     

 

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ConsultingConsulting
What to expect as a new enrollee
  

OSCUI enrolled all but one of the 207 credit unions nominated for Consulting services for the first half of this year. These credit unions will receive assistance during the semester that runs from January 1 to June 30.

 

Last month, we notified the credit unions of their enrollment and assigned them to an Economic Development Specialist who will provide the consulting assistance. By the end of this month, each EDS will contact her/his assigned credit unions. During this contact, the EDS will discuss the assistance to be provided and schedule time to work with the credit union. [Read the entire article.]
  
If you have questions about our consulting services, email us at oscuiConsulting@ncua.gov.
  
GrantsLoansGrants and Loans
What's in store for 2015 funding
 
This year, the Community Development Revolving Loan Fund will offer larger grants, the popular Student Internship initiative and improvements to the grants website.
  • Higher award amounts: Funding legislation signed late last year provides for $2 million in CDRLF funding for fiscal years 2015-2016. This is the first increase in more than 10 years and the largest grant appropriation in the history of the CDRLF. As a result, credit unions can expect to receive larger grant awards during the second funding round once the funds are received.
  • More funding for internships: Up to $7,000 will be available for credit unions to receive training or to hire an intern during the first grant round of 2015. Up to $4,000 will be available to hire high school or college students for summer internships. Refer to our website for application materials and guidance. Additionally, $3,000 will be reserved for approved credit unions to receive training on topics such as lending and collections, compliance, and other credit union operations.
  • Easier CyberGrants navigation: Our refreshed CyberGrants homepage will debut next month with the opening of Round 1 of the grants.  The website will highlight resources and announcements for funding applicants. Here's a preview of the new layout which should be easier to navigate and more informative:

Grants graphic Jan 2015 
 

Email your questions about CDRLF grants or loans to oscuiApps@ncua.gov.

  
PartnershipsPartnerships & Outreach
More to come
  

Partnerships & Outreach staff will continue to identify and help you access resources that benefit your credit union and members.  We'll continue to collaborate with other federal government agencies and non-profits to increase your awareness of non-NCUA programs and opportunities for which your credit union may be eligible. See the announcement below regarding the U.S. Internal Revenue Service's upcoming promotion of EITC Awareness Day.

  
Share this issue with your colleagues who are not subscribers.
   
 
  
Help the IRS reach those who earn less-than $52,427 annually

EITC Awareness Day is Friday, January 30. Join the IRS and thousands of other community leaders to promote awareness of the Earned Income Tax Credit.  The EITC can help individuals, families and communities through the funds individuals receive from the credit. Many individuals who qualify may not know it.  IRS has free online tools including articles and flyers that can be downloaded from its website and disseminated to your members. 

 
TrainingTraining

Opening with a BANG! 

 

OSCUI is beginning the year with a full schedule of training for you, your staff and volunteers. Our webinars and videos have been extremely successful, and since these are the delivery methods you've told us benefit you the most, we're offering training in all electronic formats this year with no in-person workshops. See the 2015 OSCUI Webinars column for the full schedule of 2015 webinars and registration link.

 

Share your comments about our Training Program; email us at oscuiTraining@ncua.gov.

  
HappeningHappening in OSCUI

Information and updates

  

Program updates

Grants and Loans: NCUA recently approved its first grant for the relocation of a home-based credit union.  Richland Parish Schools FCU received $5,473 through the Urgent Needs Initiative to relocate the credit union to an office within a school.

 

Training: OSCUI's Internal Controls webinar attracted 1,033 participants last month. Of the participants, 99 percent completed an online test to receive a certificate of completion. Recordings of OSCUI webinars are posted to the Videos and Webinars page of our website approximately six weeks after the live event. An archive of past videos and webinars may also be found there. 

announcementsAnnouncements  

Non-NCUA sponsored events and opportunities

 

Partner Events

Important Updates for FY 2015 CDFI Program and NACA Program: The CDFI Fund recently announced the following regarding its 2015 programs:

 

Matching funds waived for certain programs: Only CDFI Program applicants seeking Core awards are required to provide evidence of matching funds to support their FA requests. Matching funds requirements are waived for applicants to Financial Assistance through the Native American CDFI Assistance Program, the Healthy Food Financing Initiative, and the Small and Emerging CDFI Assistance component of the Community Development Financial Institutions Program.

 

Extended deadline for new SECA and NACA FA applicants: The CDFI Fund is providing an additional 45-day application submission window for eligible organizations that did not submit a SECA component or NACA Program FA application by the original application deadline of November 24, 2014.  A new SECA component or NACA Program FA applicant can also submit a HFFI application by following the instructions in the application guidance materials, which can be found on the CDFI Program and NACA Program pages of the CDFI Fund's website and through Grants.gov.  Applications are due by 11:59 p.m. EST on March 5, 2015.

 

Option to amend award request: SECA and NACA FA applicants that submitted applications by November 24, 2014 have the option to update their award request information based on the waiver of the matching funds requirement.  Award request changes must be submitted through the applicant's myCDFI Fund account by 5:00 p.m. EST on February 10, 2015. 

 

Contact Information for Questions: Applicants may contact the CDFI Program and NACA Program Help Desk with questions by calling 202-653-0421, option 1 or by email to cdfihelp@cdfi.treas.gov.  Staff will answer such questions until 5:00 p.m. EST on March 5, 2015.

 

New NCUA Strive to Thrive video: Developed by NCUA's Office of Consumer Protection, the video provides an overview of the various field-of-membership types available to federal credit unions. It also identifies expansion and conversion opportunities.

 

Other

SBA releases new electronic signature standards: As of January 1, SBA lending partners may now utilize compliant e-signature platforms to sign and process their 7(a) and 504 loan guarantee applications. Introduction of the electronic signature standards is the first of other improvements planned by SBA for 2015.

 

Data Privacy Day, January 28: The National Cyber Security Alliance sponsors this event to raise awareness and educate consumers about how their information may be collected, the benefits and risks of sharing personal data, and the privacy implications of their online actions. Organizations can show their commitment to privacy by becoming a "Champion of Data Privacy Day."

 

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Pamela L. Williams
Editor
NATIONAL CREDIT UNION ADMINISTRATION
The Office of Small Credit Union Initiatives
1775 Duke Street, Alexandria, VA 22314
     

Website: www.ncua.gov/oscui   

Email: oscuimail@ncua.gov