OSCUI offers free consulting service to credit unions

on "July 25, 2017 10:51 am"

NCUA’s Office of Small Credit Union Initiatives recently announced a new consulting cycle for qualified credit unions.

The credit union movement is chock full of acronyms. From ACH to UCC and everything that begins with CU in between, the inhabitants of Credit Union Land speak a language all its own.

One acronym deserving attention offers free, valuable resources to small credit unions. The National Credit Union Administration (NCUA) Office of Small Credit Union Initiatives (OSCUI) supports the success of small credit unions through training, consulting, grants and loans, and partnership opportunities.  OSCUI recognizes the unique role small, low-income designated, and new credit unions play in the lives of their members and communities and is committed to helping these credit unions not only survive, but thrive.

OSCUI recently announced a new consulting cycle for qualified credit unions. As in previous consulting cycles, enrollees receive, at no-charge, consulting assistance from NCUA's economic development specialists.  Each EDS works with credit union management teams to address strategic and operational challenges such as developing realistic strategic plans, creating viable marketing strategies, and expanding the credit union's field of membership.

Approximately 85 percent of all federally insured credit unions are eligible for OSCUI's consulting services.  To qualify, a credit union must meet at least one of the following criteria:

  • Total assets of less than $100 million;
  • Chartered for fewer than 10 years;
  • Designated as a minority depository institution; or
  • Low-income designated by NCUA.

 For more information, visit NCUA's web page on Consulting.