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National Federation of Community Development Credit Unions
Report to the29th Annual Meeting of the Membership June 7, 2003 * Memphis,
TN
The Federation.
Opening doors. Expanding Limits. Since 1974
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.
Highlights 2002-03
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 *
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
Available for ’03 – ‘04 Deposits: $3.5 million Secondary Capital: $2.29
million Equity grants: $351,000 Technology grants: as funds are
raised
Research CDFI Data Project Report Report on $1-million Citicorp
Neighborhood Banking 2000 Report on CDCU Technology to
Ford Fdn.
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
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
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
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
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
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
Highlights:
What’s New for 03-04
30th Anniversary Meeting CDCU Mortgage Center™ CDCU Technology Advis.Services “Community Development
Partners” Alliance with Disability Community
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
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.
CDCU Technology Advisory Services
Help CDCUs select & implement technology
Promote partnerships with other credit unions
Technology grants
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
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
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
Visit us at:www.cdcu.coop
Events Program Information &
applications New about CDCUs Publications Federal agencies
…. And more