Small Credit Union Technology Assistance Grant Application

The intention of this grant program is to provide funding to help small credit unions best serve their members and to help the credit union thrive and grow. The focus of these grants are technology needs,  not for capital equipment or operations. Credit unions may apply for one Small Credit Union Technology  Assistance grant per year. There is no application deadline; requests are accepted throughout the year.

Grant Purpose examples

• Technology Needs: hardware and software, apps, upgrade, replace and repair critical equipment/platforms
• Member Access Services: mobile banking, texting, etc.
• Online Services: new/upgraded website, new or enhanced features to reduce fraud

Eligibility

• Minnesota Credit Union Network members with assets of less than $100 million
• Stated goal of the funded project must address a primary challenge of the credit union
• Foundation does not fund capital projects, operating expenses, staff time, dues, and regulatory fees

Awards

• Small Credit Union Assistance grants will be a maximum of $10,000 or 50% of the total project cost, whichever is less. 

Reporting

• Grantees must submit a Final Progress Report at the end of the project which is supplied by the Foundation. Success measurements will be based on stated project goals and outcomes to the credit union and/or its members.
• Grantees must submit a copy of paid invoice(s) relating to this project with the Final Progress Report. Grant amount will be reimbursed to the credit union following receipt of the report.