Every Community Development Credit Union can share stories about how they have helped their members beat the odds and pursue their dreams of financial independence. This Bank Transfer Day we celebrate CDCU’s service to the underserved. CDCUs are growing in membership, loans, and deposits. In the first 11 months of 2016, CDCU membership has increased significantly. Today, CDCUs serve 6 million members and hold over $60 billion in community-controlled assets.
Growing CDCUs can leverage Federation secondary capital to expand safe and affordable lending in their communities. These subordinated loans of up to $2 million can be counted towards a credit union’s net worth, and can be used to expand innovative CDCU products and services to new and emerging markets. Join us at the Federation’s Annual Conference in Dallas to learn more about secondary capital and meet with representatives of our Community Development Investment Program, or contact us at firstname.lastname@example.org.
About the Community Development Investment Program
The CDI Program provides capital resources to its member CDCUs seeking funds to increase liquidity, boost net worth, mitigate risk and introduce innovative products. The CDI Program has invested more than $120 million in CDCUs since its inception in 1982.
About the Federation
The National Federation of Community Development Credit Unions is a CDFI Intermediary representing Community Development Credit Unions (CDCUs). The Federation’s member CDCUs provide credit, savings, transaction services, and financial education to residents of low- and moderate-income urban, rural, and reservation-based communities across the US. Founded in 1974, the Federation is headquartered in lower Manhattan with offices in Madison, WI. We offer a wide range of advocacy, educational, investment, consulting, marketing and outreach programs to support CDCUs.