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National Federation of Community Development Credit Unions
Report to the29th Annual Meeting of the Membership June 7, 2003 * Memphis,
TN
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The Federation.
Opening doors. Expanding Limits. Since 1974
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The Federation’s Vision Empower our communities to achieve self-
sufficiency Access to CDCUs for every low-income
community Unite CDCUs worldwide Strengthen the movement through
collaboration Enable low-income members of CDCUs to
participate equally and effectively in public life
Adopted by the Board of Directors, Sept. 23, 1995.
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Highlights 2002-03
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Capitalization
$3.7 million invested/committed(2002) 117 participating CDCUs * Total investments in CDCUs: $18
million * New Product: PRIDEs™ to fight
predatory lending New Product: Technology Grants
* New record *
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Growth of Capitalization Program, 1990 - 2001
$0.0
$5.0
$10.0
$15.0
$20.0
'90 '95 '00 '02
Invstmts in CDCUs,millions
0
50
100
150
'90 '95 '00 '02
# of CDCUs participating
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Available for ’03 – ‘04 Deposits: $3.5 million Secondary Capital: $2.29
million Equity grants: $351,000 Technology grants: as funds are
raised
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Research CDFI Data Project Report Report on $1-million Citicorp
Neighborhood Banking 2000 Report on CDCU Technology to
Ford Fdn.
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Education and Training
CDCU Institute™ Graduated second class (Oct. 2002) 39 current students – years 1, 2, and 3 104 students/65 credit unions since
1999 Regional Seminars
market analysis, lending, fin’l.projections 204 C.U. and other organizations – 529
people – 11 states & Puerto Rico
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Financial Literacy: Each One, Teach Many
“Your Path to Financial Freedom” (NEFE/Federation workbook)
Oct. 18 ‘02: Financial Lit.Day in New York
100 trainers trained since 1/03 -- NY,Philadelphia,Colorado, Texas,
California… Funders: American Express, IBJ Mizuho,
North Fork Bank
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Membership
New Record: 220 CDCUs Assets: $100k-$800
Million Totals (12/31/02):
Assets: $2.7 billion (last year: $2.3)
CDCU members: 782,641 (last year: 702,244)
Member CDCUs
50
100
150
200
250
'95 '00 May-03
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Latino CU Conference April 11-13, 2002, San Diego 200+ attendees from U.S. and Latin
America HUD Sec’y. Martinez, NCUA Chair
Dollar, Cong. Napolitano, Jaime Escalante (Stand and Deliver)
Broad U.S. CU movement sponsorship
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And… Technical Assistance
CDFI, organizing, crisis intervention Faith-Based CU Network
“Harlem Plugged” AmeriCorps*VISTA
EITC campaign, IDAs, financial lit. New York Community Fin’l. Network Youth CU Network
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Finances, ‘01 – ‘02
2002 2001
Assets $22.6 mil. $17.8 mil.
“Net Worth” $6.3 mil. $4.6 mil.
Loan Loss Reserve
$622,000 $645,750
Revenue $2.97 mil. $2.92mil.
“Net income” $34,114 $8,501
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Highlights:
What’s New for 03-04
30th Anniversary Meeting CDCU Mortgage Center™ CDCU Technology Advis.Services “Community Development
Partners” Alliance with Disability Community
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30th Anniversary!
San Juan, Puerto Rico Wyndham El San Juan Hotel June 9 –12, 2004
Latino CU Conference: June 9-10 30th Annual Meeting: June 10-12
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CDCU Mortgage Center™ Access to web-based, state-of-the-art
mortgage origination & processing Federation back-up for all
participating credit unions: Technical support Management assistance (ALM) Education & training
Building toward CDCU secondary mkt.
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CDCU Technology Advisory Services
Help CDCUs select & implement technology
Promote partnerships with other credit unions
Technology grants
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Community Development Partners
Pilot program Reach out to credit unions that
share mission of expanding services to low-income people
Expand Federation’s resources, outreach, impact on CU movement
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Alliance with Disability Community
Assist people with disabilities to access credit & financial services
Establish linkages with local organizations serving people with disabilities
Jointly raise resources Financial literacy
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Challenges: ’03 – ‘04 Advocacy
NCUA: secondary capital regs; PCA; examination practices; “Small CU” policies
CDFI Fund: appropriations; access for small CUs Capitalization Program
Raising more money for Technology Grants Fund Low interest rates
CDCU Institute™ Continuation beyond ’04
Fundraising: 30th Anniversary Campaign
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Visit us at:www.cdcu.coop
Events Program Information &
applications New about CDCUs Publications Federal agencies
…. And more