2023 Tax Calendar
VIEWpoint Issue 2 | 2022
Inflation Reduction Act: Highlights of Key Changes for You and Yo...
The 2022 Gift Tax Return Deadline Is Coming Up Soon
HUD Strengthens the Effects Test
President Biden’s Proposed Budget Includes Notable Tax Provis...
The National Credit Union Administration (NCUA) has announced it will commit additional funding to provide credit unions and their members with COVID-19 assistance.
Originally, the NCUA announced on March 31 it would commit $800,000 for grants to eligible low-income credit unions to help combat the current economic state. However, earlier today the NCUA increased that amount to more than $1.3 million.
The grants will have a maximum award of $10,000 and will be awarded on a rolling basis until May 22, 2020. Minority depository institutions and credit unions with less than $100 million in assets will receive priority.
Grant awards may be used to:
Eligible credit unions should apply by using the NCUA’s CyberGrants portal before May 22, 2020. We recommend credit unions apply as soon as possible as the grant awards will be made on a first-come, first-serve basis until the funds are fully exhausted.
Doeren Mayhew’s Financial Institutions Group stands ready to help you navigate the nuances of new financial, operational and compliance guidance as a result of the COVID-19 pandemic. Contact us with any questions.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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