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NCUA accepting community development grant applications through 9/1

Looking to grow revenue through improved digital onboarding experiences for new members or by expanding your mobile lending offerings? Doing so may be more realistic than ever now, thanks to the NCUA’s Community Development Revolving Loan Fund (CDRLF), which is currently accepting applications for grants in the digital services and security area.

As an eligible credit union, you could use a grant to:

  • Streamline the account opening process by using the same platform whether you’re on a smartphone, using a tablet, or signing up face to face in a branch. With our Account Opening platform, powered by Gro Solutions, it only takes four minutes on average to open an account, which improves the success rate of online account opening by nearly 50%.
  • Help new members fully engage with your credit union during the account opening process with our Automated Account Switching platform, powered by ClickSWITCH. ClickSWITCH conveniently and securely switches automated debits and credits, including direct deposits and government payments.
  • Increase your lending business by getting to closings faster with our Digital Mortgage Experience platform, powered by Roostify. With Roostify, borrowers apply for mortgages online or via their mobile device through an optimized and easy-to-use interface that is transparent to and fosters collaboration among all parties involved, including the loan officer, borrower, real estate agents and other relevant parties.

An online application form, an explanation of grant requirements, and other information is available on the NCUA’s website. Applications for funding under the digital services and security initiative must be received no later than August 18 at 11:59 p.m. ET.