The Federation offers a wide range of programs and services, some of which are unavailable anywhere else in the credit union movement!
On this page:
Our Services for Credit Unions
The Federation offers a host of services to member credit unions, as well as to other credit unions looking to do more to serve low- and moderate income populations. An overview of our services is available by clicking here.
Specifics on our various programs and products are available below.
New Initiatives
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Better Directions: Financial Security Has No Age Limit - Many older Americans who are struggling economically, do not believe it's possible to gain a measure of financial well being at their age. Some have been battered by debt, while others have been pummeled by rising prices, or preyed upon by so-called "payday" lenders and unscrupulous debt consolidation scammers. This new program seeks to expand economic opportunities for the aging in low-income and underserved communities across the nation, by helping them create and rebuild assets through trusted relationships with credit unions. We believe that an emphasis on economic security offered at the local level by CDCUs can provide solutions for many older Americans. To test this out, the Federation has received a major grant from The Atlantic Philanthropies to launch an exciting new nationwide program that will help low-income seniors gain financial security. Through this program, the Federation wants to encourage credit unions to develop and market products and programs at CDCUs that recognize and meet the needs of this group; encourage the creation or expansion of partnerships with local direct service agencies that work with the aging; and ensure that older adults in the communities served by CDCUs get the financial counseling and information they need to obtain all the public benefits for which they are eligible.
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"Borrow & Save" Short-term Small-dollar Loan with Savings Component Pilot Program - The Federation is conducting a two-year pilot program through which five CDCUs, three nationwide and two in New York City, will offer a “Borrow & Save” loan to members. Our goal is to assess the impact of this type of product, to see whether it helps low-income people reduce their dependence on borrowing by providing an alternative to predatory financial products and by building a small emergency savings fund.
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CDCUs and the Disability Community - The Federation is forging an alliance with the network of organizations serving people with disabilities, in order to bring financial services, access to credit, and financial education to a market of millions of people who are disproportionately represented in America's low-income communities.
Our Core Programs
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Community Development Investments - The Federation's Community Development Investment Program provides investments and capital resources to member CDCUs. With more than $50 million in assets under management, the Community Development Investment Program has invested more than $90 million in CDCUs since inception, increasing their capacity to support underserved communities.
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CDCU Mortgage Center, LLC - In February 2005, the Federation launched the CDCU Mortgage Center, LLC to expand mortgage financing options for credit unions serving low- and moderate-income communities. Our Mortgage Center provides training and assistance to CDCUs looking to start new or expand existing mortgage programs; it also houses the CDCU Affordable Mortgage Secondary Market, which purchases traditional and non-traditional mortgage loans from member CDCUs. The CDCUs retain the servicing relationship with their member, but the Federation's purchase frees the CDCUs capital to make more loans in their communities.
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HUD Approved Credit Union Housing Counseling Program - As a HUD-approved National Housing Counseling Intermediary, the Federation is committed to expanding the capacity of credit unions to provide accurate, timely and consistent guidance to members.
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Fair Mortgage Collaborative (FMC) - The Federation is also a co-founder and executive committee member of the FMC, a joint effort by major national nonprofits, community lenders, foundations, and advocacy organizations to certify responsible lenders across the nation. The Federation's goal is to certifying credit unions as equitable, trusted, and sustainable providers of financial products for consumers. Because of our role in the Collaborative, member CDCUs and Community Development Partners will be the first credit unions to be eligible for this certification.
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Education & Training - The Federation offers web-based and in-person trainings for credit union staff, board members, committee members, and organizers. We also offer an extensive educational programs in credit union operations and community development finance through our signature campus-based CDCU Institute™, now in its 11th year of operation.
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Financial Literacy - Financial Literacy continues to be a major focus nationwide. The Federation has long joined the battle against predatory lenders through our financial literacy campaign: Each one, Teach many. This program is designed to help community development credit unions to deliver effective financial education programs and improve the economic security of local communities. We believe that financial literacy is key to economic independence - the freedom to build a better future without fear of losing hard-earned assets to financial predators. We also offer specialized "Train-the-trainer" programs to help credit unions offer financial literacy classes to their members, using a special curriculum developed in collaboration with the National Endowment for Financial Education (NEFE).
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BALANCE - BALANCE helps individuals and families achieve their financial goals through comprehensive financial fitness programs (tools, information and assistance) in partnership with sponsoring organizations, and thanks to the support of some of the largest credit unions in the country, many of the Federation’s Policy Members under $25 million in assets have been able to access the services of BALANCE, at significant discounts since 2007.
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FoolProof Financial Education - FoolProof Financial Education Systems provides rigorous, web-driven consumer advocacy and financial education programs exclusively to credit unions. FoolProof’s “Workplace” series of financial education modules targets underserved consumers who enter the workplace with few financial or consumer skills. FoolProof's suite of five turnkey programs are designed to provide credit unions extraordinary financial education tools for all ages and constituencies. The services provided through this program are available only through credit unions or other not-for-profit entities. Federation-member CDCUs under $10 million in assets receive FoolProof programs free of charge, while member CDCUs with more than $10 million-in-assets can license the programs for a discounted fee. FoolProof currently works with more than 100 credit unions and over a dozen credit union leagues and foundations.
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Individual Development Accounts (IDAs) - The Federation is the credit union leader in promoting IDAs, restricted savings accounts that provide low-income members with matching funds if they save systematically for home ownership, education, or starting a small business.
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Credit Union Affinity Networks - The Federation has several special-interest networks for CDCUs to share issues and innovations distinctive to their memberships:
Federation Events
The Federation prides itself on hosting top-notch meetings and conferences. One of our yearly highlights are the 4-day conferences we organize each June. Not only do we bring high-profile keynote speakers, but we also focus our efforts to providing educational programs of the highest quality.
Learn more about our next annual conference!
By clicking on the "Federation Events" link above, you will have access to presentations and other information from previous Annual Conferences, Faith-based Credit Union Conferences and our Latino Credit Union Conferences.
For more information about all upcoming trainings and events, please see our Events Calendar.
