ALEXANDRIA, Va. (1/17/13)--A record 319 credit unions have applied for planning assistance and other help through the National Credit Union Administration's Office of Small Credit Union Initiatives (OSCUI) Consulting Program, the agency has reported.
This heightened interest has led to a record number of consulting program participants in the first round of 2013: 240 credit unions will take part. Credit unions that have been accepted into the consulting program were notified in mid-January, OSCUI said. This round of the consulting program will run from January until June. A second 2013 round of the program will begin in July.
Through the consulting program, OSCUI offers budgeting, marketing, policy development and strategic planning assistance. The experienced economic development specialists that offer this assistance also help credit unions tackle other examination issues and issues related to internal controls and regulatory compliance. Assistance with net worth restoration plans or revised business plans, and consulting services to groups that wish to organize a credit union may also be provided, according to the NCUA.
Credit unions with less than $10 million in total assets, charters that have been approved within the past 10 years, or low-income designations may apply for the consulting program. The program is free of charge.
OSCUI Director William Myers said the program has much to offer eligible credit unions.
More than 200 credit unions took part in the most recent round.