Introducing My Credit Union Mentor
New program supports small, minority-owned and faith-based credit unions
FOR IMMEDIATE RELEASE
New York, NY – (March 6, 2015) – The National Federation of Community Development Credit Unions (Federation), the African-American Credit Union Coalition (AACUC), and the Network of Latino Credit Unions and Professionals (NLCUP) announce a new mentorship program, My Credit Union Mentor, to benefit small, minority-owned and faith-based credit unions. In many of the communities where Federation, AACUC and NLCUP members operate, community development credit unions are the only financial institution providing safe and affordable financial products and services to low-income families, immigrants, seniors and young people looking for alternatives to mainstream banks.
Mentors will be drawn from throughout the credit union industry to provide the expertise small credit unions need to remain a vibrant resource in their communities. Mentorship opportunities include:
Strategic planning | Lending | Marketing | Secondary Capital | Board Governance
Compliance | Operations | Budgeting | Collections
Cathie Mahon, Federation President and CEO, says, “Very small credit unions face all the same challenges as larger credit unions, often with fewer resources. Preserving these credit unions–many of which are minority or faith-based–is critical. Often these credit unions are the only financial institution in the community. This mentorship program calls upon the cooperative nature of our industry to share expertise across our industry to the benefit of all.”
Sheilah Montgomery, AACUC Mentorship Chair concurs, “The AACUC board subscribes to the preservation of women-managed and minority-owned credit unions to promote diversity and inclusion and add value to the credit union movement.”
Maria Martinez, NLCUP President and President and CEO of Border Federal Credit Union adds, “The mentorship program will open opportunities for members and affiliates of NLCUP to use their expertise by assisting others within our credit union movement. In the past our NLCUP members have successfully transmitted their knowledge of our industry to our peers. Mentoring is a mutual process where everyone benefits; we’ve learned so much from others! NLCUP is ready for this challenge!”
Mentors will share their skills and experience on a volunteer basis. The Federation, AACUC and NLCUP will jointly administer the program, supported by a database of mentors, prospective and participating credit unions and program outcomes.
Credit union professionals interested in becoming mentors are invited to complete applications at cdcu.coop/mycreditunionmentor/. Please direct questions regarding the My Credit Union Mentor program to Pam Owens, Federation VP of Programs, at email@example.com.
About the Federation
The National Federation of Community Development Credit Unions is a certified CDFI Intermediary representing community development credit unions (CDCUs) that provide credit, savings, transaction services and financial education to more than 4 million residents of low-income urban, rural and reservation-based communities across the US, and hold over $32.5 billion in community-controlled assets. Founded in 1974, the Federation is headquartered in Lower Manhattan with offices in Madison, WI. The Federation offers a wide range of advocacy, educational, training, investment, marketing, and outreach programs to support and assist CDCUs. For more information about the Federation and its programs, please visit www.cdcu.coop.
The African-American Credit Union Coalition (AACUC) was created to increase the strength of the global credit union community. We are a non-profit organization of African-American professionals and volunteers in the credit union industry. The goals and objectives include expanding the interest and increasing the number of minorities in the credit union movement, increasing outreach of the credit union movement in African countries and in the United States through credit union mentoring, providing scholarship programs and educational opportunities to credit union professionals and volunteers towards professional development and advancement, and most importantly enhancing internship and scholarship programs for African-American college students in pursuit of financial services careers to introduce them to, and encourage them to seek employment within the credit union movement. For more information about the African-American Credit Union Coalition, please visit www.aacuc.org or e-mail firstname.lastname@example.org.
NLCUP, the Network of Latino Credit Unions and Professionals, is an independent network of credit union professionals and representatives of credit unions from across the nation serving or desiring to serve the Latino/Hispanic community. With the mission “to empower the Latino Community to build family wealth, develop economic opportunity and secure financial stability,” the NLCUP implements national initiatives targeted to the financially underserved. For more information about NLCUP, please visit www.nlcup.org.
Director of Marketing and Communications, Federation
212-809-1850, ext. 210
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© 2015 National Federation of Community Development Credit Unions
39 Broadway, Suite. 2140 | New York, NY 10006-3063 | www.cdcu.coop| T 212.809.1850