Lloyds Banking Group’s Credit Union Development Fund has grants of up to £100,000 available to credit unions authorised to operate in England, Scotland, Wales and Northern Ireland (provided they have not already received a large grant from the programme).
The funding programme has been designed to strengthen the financial position of credit unions and give them the capacity to develop new strategies for sustained and effective growth.
Two kinds of grants will be available.
- Large awards (of between £50,000 and £100,000) will provide a contribution to a credit union’s reserves or capital activities, and help remove barriers to growth and innovation; and
- Seed funding awards (of between £10,000 and £20,000) will help credit unions to make the changes they need to apply for a large award in a subsequent year or to pay for the costs of merger in certain circumstances.
The closing date for applications is 12noon on 18th June 2018.