 |
The
NFCDCU Capitalization Program began in 1982 with a single product: federally insured, non-member
deposits. Through a combination of
effective advocacy for regulatory changes and successful fundraising from public
and private donors, NFCDCU has expanded the size of the Capitalization Program
and the range of products on offer.
In the past five years our investments in CDCUs soared from $3.2 million
in 1995 to over $16 million at the end of 2001, and the number of participants
nearly doubled: by the end of
December 2001, the Program investments outstanding in 113 credit unions. NFCDCU has also attracted new capital
from private institutions, increasing the number of sources of these social
investments by 41% in the last five years.
|
DESCRIPTION |
12/31/1990 |
12/31/1995 |
12/31/1996 |
12/31/1997 |
12/31/1998 |
12/31/1999 |
12/31/2000 |
12/31/2001 |
|
Total
Investments Under Management |
$3,710,000 |
$5,905,000 |
$6,855,000 |
$11,425,000 |
$16,455,000 |
$17,253,750 |
$18,623,750 |
$19,973,750 |
|
Investors
in Capitalization Program |
13 |
18 |
17 |
19 |
21 |
21 |
24 |
24 |
|
Investments
In CDCUs* |
$2,394,000 |
$3,242,500 |
$4,142,500 |
$5,171,250 |
$10,161,250 |
$12,271,250 |
$14,910,666 |
$16,098,750 |
|
Member
Credit Unions |
90 |
130 |
150 |
162 |
170 |
185 |
192 |
208 |
|
CDCUs
Participating in Capitalization Program |
39 |
54 |
56 |
69 |
81 |
88 |
99 |
113 |
*Investments
consist of grants, loans and deposits
During 2001 the Capitalization
Committee considered 89 separate requests for all investment products for a
total of $7,027,050 and it approved 72 of those requests for a total of
$4,349,750. These approvals include
renewals and extensions as well as new money. The Capitalization Program Investments
by product as of December 31, 2001, consisted of the
following:
|
|
Disbursed |
Committed |
|
Insured
Deposits |
$8,902,500 |
$500,000 |
|
Micro-enterprise
Deposits |
$125,000 |
$0 |
|
Other
Uninsured Deposits |
$250,000 |
$0 |
|
Secondary
Capital |
$5,165,000 |
$475,000 |
|
IDA
Grants |
$150,000 |
$55,000 |
|
Equity
Grants |
$1,506,250 |
$325,000 |
|
TOTAL |
$16,098,750 |
|
|
