One Cal Report Q2 2009

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  • 1. OneCalifornia Community Development Banking Report }2009 Q2 Does your bank educate your community? Ours does. TM B A N K
  • 2. O Preparing the Way for Lifelong Learning & Success neCalifornia strides into its third year of Lighthouse Community Charter School operations as a community development bank and supporting foundation with an ever-widening family of individuals, businesses and organizations dedicated to TM improving economic opportunity. This report spotlights visions to educate—a fierce belief in innate capacities to learn, a focus on low-income communities and a B A N K commitment to nurturing successful lives. Look into the eyes of a Lighthouse Community BANKING ON Charter School student and you’ll see beaming evidence of the school’s mission, which is to equip each child ONE SUCCESS with the knowledge, skills and principles to be a self- TM AT A TIME motivated, lifelong learner. Multiply that light by 650 students and you’ll feel the impact this K-12 Oakland will accommodate all students with ample class- public school is having on students and their families. rooms, science and media labs, art studios, a library Founded in 2002 to close the achievement gap, the and planned outdoor recreation space. school has grown from 92 students the first year. The Brian Rogers, Lighthouse Board President, student body is 80% low-income, 72% ESL (English a former teacher and Executive Director of The as Second Language) and 90% from families where no Rogers Family Foundation, advocates the Lighthouse one has gone to college. From the first class to graduate in philosophy of educating the whole child. “It’s our June 2009, all 21 students—100%—are going to college. family’s hope that Oakland can create schools where Jenna Stauffer, Director of Strategic Develop- parents can drop kids off in kindergarten and expect ment and co-founder with fellow teachers Steve Sexton they can go to college in 12 years. We’re invested in and Laura Kretschmar, describes the school’s inception: this school and are partners with them in this project.” “We had taught in some of the most underserved ur- The school’s focus is on achievement—academic, ban schools in the country and decided we had to do socio-emotional and behavioral—and learning. something about educational equity. Our vision is being Teachers identify specific goals for their students and “Our vision is realized and our hope is that we make a positive impact regularly analyze data and adjust practices in pursuit being realized on the future of children, Oakland and even the world.” of these goals. Literacy is emphasized throughout and our hope As a California charter school and a nonprofit the entire school and interwoven into every subject is that we make 501c3 organization, Lighthouse is part of the public area. Teaching and learning extend through a longer a positive impact school system, free from many of the procedural school day and school year. on the future requirements of public district schools, yet still ac- Science teacher Laura Kretschmar accompanied of children, countable for student achievement. It offers an alter- her fifth graders on the first OneCal-sponsored field native to other schools and does not charge tuition. Ad- trip. “The earthquake lab fit perfectly with what we Oakland and mission is determined by lottery. Lighthouse’s leased were studying. It’s great for kids to have learning even the world.” campuses for K-6 and 7-12 have been too cramped and experiences outside the classroom, to be exposed to Jenna Stauffer high rents have drained valuable program dollars, so other Oakland students and other science experts and the school undertook an $11 million renovation at 444 professionals.” Laura’s cousin, Alex Graf, worked in Hegenberger Road. OneCal Bank is helping with a the film industry and was a frequent visitor to the Above: Lighthouse fifth grader $2 million dollar loan. school. He died while working on a film in China in on a OneCal-sponsored field Lisa Zuffi, OneCal Bank Senior Vice President 2003 and a scholarship was founded to commemorate trip to Chabot Space & Science and Banking Group Head, shepherded the loan. “The his life. Center. relationship with Lighthouse has been building since Two 2009 Lighthouse graduates, Angelica Cuevas after the Bank opened in the fall of 2007 and through and Alejandro Zepeda, entering Dominican College Pictured on the cover and in the school’s participation in the Chabot field trips.” and University of San Francisco this fall, respectively, top right photo: (left to right) The annual OneCal-sponsored trips for Oakland public received Alex Graf Scholarships, awarded through Brian Rogers, Jenna Stauffer, school fifth graders unite businesses and nonprofit the East Bay College Fund. Lisa Zuffi, Laura Kretschmar, organizations in providing learning opportunities to To learn more and to give support, go to www. Angelica Cuevas, Michele spark college and career goals. “We’ve been talking to lighthousecharter.org, www.eastbaycollegefund.org. Davenport, Alejandro Zepeda. Lighthouse all along about their need to find permanent space.” The credit package involves New Markets Tax Bottom right: The light-filled Credits and debt from OneCal Bank in partnership warehouse space at 444 with NCB Capital Impact. The renovated facility will Hegenberger Road before open at the beginning of this school year. renovation to Lighthouse The project, designed by Oakland architects Stark- Community Charter School. weather Bondy, is being built by Cahill Contractors, a third-generation Bay Area firm with an Oakland history dating back to CEO Jay Cahill’s grandfather, a 1905 University of California graduate, inspired to his PHOTOS: career by the need to rebuild San Francisco after the COVER & ABOVE RIGHT: LINDA RUSSELL ABOVE: CHRISTINE WALKER 1906 earthquake. Two existing warehouse/office build- BOTTOM: COURTESY LIGHTHOUSE ings, converted into a consolidated, light-filled space,
  • 3. Working Together to Find Solutions Tying It All Together with Financial Literacy East Bay College Fund OneCalifornia Foundation A community-based non-profit organization, the East Bay At the core of OneCalifornia’s mission to improve College Fund provides scholarships, mentoring, on-going college economic opportunity, financial literacy promotes skills for counseling and life skills training to East Bay (primarily Oakland) maintaining checking and savings accounts and using credit public high school students from low-income families and commu- wisely. Essential at every stage of life, these skills are especially nities with historically low college attendance rates. Since its incep- important for college students living away from home for the tion, East Bay College Fund has awarded 100 four-year $16,000 first time. Without parental supervision and with enticements scholarships with mentoring support. offered on and off campus, many students become burdened OneCal is closely connected with East Bay College Fund through with debt during college. Andy Fremder, who co-founded it in 2002, along with a committed A recent Sallie Mae study reported that seniors are group of East Bay citizens, educator and community activists, and “graduating with an average credit card debt of more than who also serves on the board of OneCal Bank. Andy says, “The problems $4,100, up from about $2,900 in 2004.” East Bay College need to be attacked from all sides. In order for all of this to work— Fund scholars attending summer financial literacy classes education and opportunity—organizations need to work together. at OneCal Foundation learned about the risks of easy credit. Students need a good education to qualify for college, they need support Classes were taught by Susan Keiter of East Bay College Fund to succeed in college, and they need to be able to come back to a and Andrea Walker of OneCal. community that offers jobs. We’re focused on the college piece, doing Angelica Cuevas, who will be living at Dominican College, our part. Lighthouse is doing theirs. OneCal and the businesses and said she was glad to be warned about how credit card companies organizations that bank there are developing economic opportunities. target college students with offers. “Later when you get the It all ties together.” bill you realize you’ve spent a huge amount. It’s one of the Michele Davenport, Executive Director, describes the rela- main things that puts college students in debt.” tionship between the East Bay College Fund and OneCalifornia as Alejandro Zepeda found out about overdraft charges. “long-standing and strong” and extending far beyond the deposit “I thought the banks just charged you one time, but they can relationship. “OneCal is our partner, their team supports our efforts get you every time you spend over the amount you thought and programs (and vice versa), their staff is critical to our selection you had.” process as volunteers. They offer complimentary financial literacy Emely Srimoukda, who will be attending Chico State, courses for our scholars and have provided a credit workshop at learned a technique for managing debit withdrawals. “I’ve our annual scholar/mentor retreat.” After attending financial litera- had a bank for a few years, and I never used the little book to cy classes at OneCal Foundation, next door to OneCal Bank, new keep track. Susan showed us how to use it.” scholars are invited to walk over to the Bank and open a free In their pursuit of a college education, these bright and checking account. accomplished students, along with other East Bay College Michele and College Counselor Susan Keiter are enthusias- Fund scholars, have overcome tremendous obstacles placed tic advocates. The interviews, awards dinner, special events and before them by immigration, financial hardship and tragedy. mentor/scholar retreat—all of which rely on volunteers—create com- A near fatal car accident changed Alejandro Zepeda’s life and munity around the students. Susan works them throughout the four shaped his ambition to succeed. In his neighborhood, he’d years to help them stay on track with their finances. witnessed many young men in trouble and decided to take Grass roots efforts and contributions from a wide variety of a different path. He enters the University of San Francisco individuals and foundations enable the East Bay College Fund to support this fall with steady determination. “I’ve decided to prove to over 80 continuing scholars. Seven Great Expectations scholarships everyone who doubts me that I can accomplish my dreams. were given in the inaugural year, 2003, and now at least fifteen are Regardless of what happens, I know that I will rise every time given annually. Eleven scholars have graduated from college, many I fall.” As his supporters also know, the community will rise of whom have committed to support East Bay College Fund or to give with him. back to the Oakland community. To learn about becoming a mentor, visit www.eastbaycollegefund.org/mentor. PHOTOS: ANDREA WALKER East Bay College Fund scholars at a OneCal Foundation finan- cial literacy class: (from below, far left) Emely Srimoukda, Alejandro Zepeda, Karla Burgos and Andrew Wilson (lower right) with Susan Keiter of East Bay College Fund; (above) Shavonnee Clark and Tyrone Radford, Jr. 3
  • 4. Exloring Opportunities for the Unbanked and Underbanked Financial Literacy Q & A: Leading to Innovation Cestas Populares Update Many people in the San Francisco Bay Area have no banking relationships or less than what’s adequate for their financial well-being. By assessing the problems, asking questions, and looking past old assumptions to innovations, OneCal is finding ways to help low-income communities meet their distinct needs. In partnership with other organizations, OneCal Foundation is implementing several ideas to serve unbanked and underbanked individuals and foster economic opportunity. A key component of OneCal’s involvement is the prepaid debit card, which allows the holder to purchase items, receive direct deposit, pay bills and load cash onto the card. No credit check or linked bank account is required, and there is no way for the holder to overdraft. Payroll Debit Cards The Situation: Every summer, Oakland Private Industry Council (PIC) gives jobs to low-income, disadvantaged Oakland youth, ages 14 to 24, and pays them with checks. Unfortunately, many of the youth are unbanked and turn to check cashing services, which may have predatory policies including high fees (as much as 3% per check) and enticements to borrow against future paychecks. The Question: Is there a viable alternative for paying employees and meeting requirements of PIC’s payroll operations? PHOTO: LINDA RUSSELL The Innovation: OneCal Foundation and Community Financial Resources are An innovative project of OneCal Bank and the partnering to provide reloadable debit cards and pay the opening fees, as well Mission Asset Fund (MAF) in San Francisco, Cestas as most of the monthly maintenance fees, for 1,000 participating youth this Populares brings traditional informal lending circles into summer. The participants receive their wages through these cards and, when formalized modern banking. It helps people build summer ends, may keep the cards and be responsible for any monthly fees. credit histories and gain access to financial services. The cards are reloadable at various locations. The Foundation will provide Amilcar Reys and Carmen Gaytan were attending financial literacy classes through its OneCal SAFE program to educate youth financial training at Mission Asset Fund (MAF) when about banking services and financial management. they learned about Cestas. With their daughter Graciela and one other, they formed the project’s first lending circle. Neighborhood Economic Development Hub Having completed their initial four-month cycle, The Situation: In San Francisco, of the more than 50,000 unbanked individuals, the group is in an eight-month duration, allowing 34,000 live in the Mission District. Many of these people are living below the each person to borrow and repay $200 twice in the poverty line; many are immigrants. They need help in overcoming language cycle. Through their individual accounts at various barriers, discrimination and other issues. A myriad of nonprofits serve their banks, each person contributes $50 a month to the needs, but the splinter approach is costly and inefficient. circle’s fund at MAF. OneCal debits the accounts The Question: Can organizations join forces to strengthen their delivery of services through an electronic network. Loan payments are and create a place where people can go to get their variety of needs met? reported and cash flows to MAF. MAF makes an electronic The Innovation: A renovated warehouse at the corner of Mission and 19th Streets deposit to the account of the next borrower. Loans, will house several nonprofit organizations dedicated to economic development. used as wished, pay household bills, tuition, car repair By the end of this year, Plaza Adelante will open as a hub offering social services and debt. to the community and shared business services for all tenants in the building. An- Carmen, pictured above with Amilcar and a chor organizations are the Mission Economic Development Agency (MEDA), symbolic money basket, shares her experience. “I Good Samaritan Family Resource Center, Mission Asset Fund, CAMINOS Pathways never thought about saving. In our country [Columbia], Learning Center and OneCalifornia Foundation. With its Mission District Pro- we live day by day. If we have money, we spend it. gram, the Foundation hopes to help the unbanked by providing them with Now I know we have to have money in the bank. It’s kiosk access to financial services and prepaid debit cards, as well as financial like a family savings plan.” Both Carmen and Amilcar literacy classes. have work histories—she a nurse at General Hospital “Smarter” ATMs and he a chef at Little Joe’s for 17 years and before The Situation: Typical ATMs link to customers’ bank accounts but don’t offer a full that on fishing boats in El Salvador. Due to misfortune range of banking services. For people with no bank accounts or living in neighbor- and going on disability, they had ruined their credit. hoods underserved by their financial institution, ATMs are useless or inadequate. Carmen says that the group and the organizations The Question: Can a smarter machine help people avoid the high costs of predatory backing it build trust and give her a greater sense of check cashing and payday lending practices and offer needed financial services? security. “I have friends who’ve done lending circles The Innovation: A financial kiosk that allows users to choose from multiple languages –maybe 15 people putting in $100 every month. But and pay a fee based on the services used, including bill payment, money transfers, they are just thinking about the money. They aren’t international remittances, money orders, and the purchase of stored value cards, thinking about building credit.” gift cards, phone cards and more. The kiosk will be an important part of OneCalifornia Amilcar and Carmen see building credit as a step Foundation’s Mission District Program. Future innovations may allow for prepaid toward their dreams. He wants to start a spaghetti debit cards to be purchased through the kiosk, as well as check cashing and payday sauce business. They are trying to buy a house. She loan services offering interest rates and loan limits acceptable to organizations loves to buy presents for her grandchildren. “Now I advocating for borrowers. can’t just go spend $50. It makes me feel good to have money in the bank.” www.missionassetfund.org To learn more, go to www.onecalfoundation.org or call 510.663.2253 4
  • 5. Improving Community Health & Fueling Business Growth C Clearing the Air: Loans for Clean Trucks lean air benefits all of us, but some people fight harder for it. For years, as a West Oakland resident, Margaret Gordon championed air quality for her neighborhood. Since February 2008, when she was appointed as the Port of Oakland’s First Port Environmental Liaison, Commissioner Gordon has brought her knowledge and passion to issues of public health and environmental justice, as well as to issues facing independent truckers, including better working condi- tions and access to capacity and sustainability. Studies of health risks from diesel exhaust in West Oakland led to an April 2008 resolution by the California Air Resources Board (ARB). The Emission Reduction Plan for Ports and Goods Movement includes a return to 2001 emission levels B or below statewide by 2010, and an 85% reduction statewide in the health risk from diesel particulate matter (PM) from all Oakland Chamber Honors Members goods movement sources by 2020. For 2,000 independent truckers, this resolution translates eing a community development bank means aligning with to buying new, cleaner big rigs or installing modified “scrubbers” mission-driven organizations to build relationships vital for community in their older models. 500 to 1,000 truckers who have yet to prosperity. The goals of the Oakland Metropolitan Chamber of Commerce— comply will need grants and/or loans to cover the costs of new to promote commerce and industry, to advance economic growth, or modified equipment. The Port of Oakland has selected and to enhance the quality of life in the city of Oakland—are close to OneCal Bank to provide financing to those truckers serving OneCal’s own. In June, the Chamber awarded OneCal Bank President the Port. The Bank is offering SBA 7(a) loan programs. The & CEO Jeff Cheung their Business Person of the Year Award. truckers also receive banking services—free checking, savings When Jeff picked up the voice mail message announcing the award, and online banking—as well as financial education. he had to listen twice. “In this economic climate where banks have With OneCal’s SBA Clean Truck Loan Program, gotten bad press, to be a banker and get the Business Person of the truckers can take advantage of the Obama administration Year award—I’m still kind of amazed.” He quickly added, “I only ac- fee waiver on 7(a) loans, which also carry a 90% guarantee. cept it as part of recognition of our OneCal team—a great staff, advi- If truckers require additional business capital, OneCal’s SBA sors, board members and community partners. At the awards cer- Manager Robert Gebauer and his team will help them assess emony, Jeff spoke extemporaneously about the challenges we’re all their needs. Whatever the bigger picture, one thing is clear. facing. Below is a recap of his thoughts on his favorite topic... Clean trucks will benefit truckers and create healthier, sustainable communities. Older diesel trucks release more particulate matter (PM), Banking on Community Street including soot, ash, and metallic abrasion particles, than newer trucks. The majority of PM is in the form of carbon, which directly relates to chronic respiratory diseases. The soluble organics “ In the Kellogg Foundation’s annual report, President & CEO Sterling Speirn stated that portion of PM—30% to 50%—contains numerous cancer-causing thinking out of the box is not a luxury any chemical compounds. Exposure to diesel PM is an occupational more. The economic climate has crushed hazard of truckers and dockworkers. Newer diesel engines have the box. We can’t be just thinking about particulate scrubbers on the exhaust system, which makes them surviving. We have to think about thriving. essentially as clean as gasoline engines. Scrubbers reduce carbon If there are any blessings to the distressed monoxide and PM, and can be installed on older trucks. economy, if there’s any kind of silver lining, A goal of the ARB resolution is to reduce localized health it’s that people understand we have to work risk in communities expeditiously. Commissioner Gordon together. People are showing greater will- has long been working toward that end. In 2001, she co-founded ingness to collaborate in innovative ways. the West Oakland Environmental Indicators Project, which reported diesel emissions there as five times greater than in the At OneCal we’re working harder than ever, but not just to keep up. rest of Oakland. She planned the San Francisco Bay Area’s first We’re looking for opportunities to try things that haven’t been done regional conference on reducing diesel pollution and improving before or do what’s been done better with more sustainable results. public health. The “Ditching Dirty Diesel” event rallied community When the economy recovers, it won’t be enough to be back where we organizations, environmentalists, public health groups and were before the downturn. That can’t be our measure. We have to do government officials to focus on asthma and other health problems better, especially for low-income pockets of our community. related to diesel air pollution. Please join us in Community Development Banking. ” An asthma sufferer, she co-authored the Healthy Home Indoor Air Quality Project and served on Governor Schwarzenegger’s Jeffrey Cheung, President & CEO, OneCalifornia Bank statewide committee on State Goods Movement Action Plan. Now, with OneCal as their banker, California truckers can move on their own action plans for cleaner emissions. Pictured at the Chamber’s 104th Annual Meeting, members and award winners (clockwise from top For more information: Robert Gebauer 510.550.8409. left) John Nelson, Joe Haraburda, Jim Ellis, Patricia Scates, Michael LeBlanc, Phil Arca, Jeff Cheung, Jose Corona, Dan Cohen, Reid Edwards. Photo courtesy Oakland Chamber. www.oaklandchamber.com. 5
  • 6. Banking on One Success at a Time FIRST CLASS MAIL OneCalifornia Bank, FSB U.S. POSTAGE PAID 1438 Webster Street, Suite 100 OAKLAND, CA Oakland, CA 94612 PERMIT NO. 332 Celebrating Indie Awards 2009 TM COMMUNITY CONNECTS OneCalifornia Bank, FSB www.OneCalBank.com Phone 510.550.8400 1438 Webster Street, Suite 100 Oakland, CA 94612 OneCalifornia Foundation www.OneCalFoundation.org Phone 510.663.2253 1438 Webster Street, Suite 101 Oakland, CA 94612 Salvador Menjívar Executive Director Bank Hours M– Th 9 am – 4 pm Sparks flew at the Crucible May 15th F 9am – 5 pm when the Indie Awards celebrated Oakland’s innovative, PHOTOS: VIVIAN CHEN, MICHELLE WALKER PHOTOGRPAHY socially- and environmentally-responsible businesses and Printed on 100% recycled paper ©2009 OneCalifornia Bank artists. Erin Kilmer-Neel (top left), OneCal Foundation Your deposits fuel Program Officer, announced the winners: Awaken Café, OneCal’s mission. Greenie; Hip Learning, Naru Kwina (lower left with his Ask us about CDARS®, the daughter and 2008 winner Keith “K-Dub” Williams and Certificate of Deposit Account Andrea Walker, OneCal Foundation Executive Program Registry Service. Now you can Assistant), Youth Empowerment; Catered to You, Newbie; invest up to $50 million, be Grand Lake Theatre, Pillar; Girl With a Truck, Innovator, eligible for FDIC insurance on Isabella Guajardo (above right); Margo Rivera Weiss, every dollar, and enjoy working Ripple Effect; Cynthia Elliott of Rough and Ready Repairs with just one bank—OneCal! and Steve Ma of Woody’s Drapery & Laundromat, Neighborhood For information and photos of all Indie Award winners, Call Norma Saavedra go to www.oaklandunwrapped.org/indies. Dynamos; and Khalil Shaheed, Oakland Soul. Join us next Senior Vice President To learn about industrial arts, go to www.thecrucible.org. year for the 2010 Indie Awards. Fire up the local economy Depository Relationship Officer by supporting Oakland’s independent businesses and artists. NSaavedra@OneCalBank.com u510.550.8405 CDFI Certified Bank Member FDIC EQUAL HOUSING LENDER