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  1. 1. National Federation of Community Development Credit Unions Report to the 29 th Annual Meeting of the Membership June 7, 2003 * Memphis, TN
  2. 2. The Federation. Opening doors. Expanding Limits. Since 1974
  3. 3. The Federation’s Vision <ul><li>Empower our communities to achieve self-sufficiency </li></ul><ul><li>Access to CDCUs for every low-income community </li></ul><ul><li>Unite CDCUs worldwide </li></ul><ul><li>Strengthen the movement through collaboration </li></ul><ul><li>Enable low-income members of CDCUs to participate equally and effectively in public life </li></ul><ul><li>Adopted by the Board of Directors, Sept. 23, 1995. </li></ul>
  4. 4. Highlights 2002-03
  5. 5. Capitalization <ul><li>$3.7 million invested/committed(2002) </li></ul><ul><li>117 participating CDCUs * </li></ul><ul><li>Total investments in CDCUs: $18 million * </li></ul><ul><li>New Product: PRIDEs™ to fight predatory lending </li></ul><ul><li>New Product: Technology Grants </li></ul><ul><li>* New record * </li></ul>
  6. 6. Growth of Capitalization Program, 1990 - 2001
  7. 7. Available for ’03 – ‘04 <ul><li>Deposits: $3.5 million </li></ul><ul><li>Secondary Capital: $2.29 million </li></ul><ul><li>Equity grants: $351,000 </li></ul><ul><li>Technology grants: as funds are raised </li></ul>
  8. 8. Research <ul><li>CDFI Data Project Report </li></ul><ul><li>Report on $1-million Citicorp Neighborhood Banking 2000 </li></ul><ul><li>Report on CDCU Technology to Ford Fdn. </li></ul>
  9. 9. Education and Training <ul><li>CDCU Institute™ </li></ul><ul><ul><li>Graduated second class (Oct. 2002) </li></ul></ul><ul><ul><li>39 current students – years 1, 2, and 3 </li></ul></ul><ul><ul><li>104 students/65 credit unions since 1999 </li></ul></ul><ul><li>Regional Seminars </li></ul><ul><ul><li>market analysis, lending, fin’l.projections </li></ul></ul><ul><ul><li>204 C.U. and other organizations – 529 people – 11 states & Puerto Rico </li></ul></ul>
  10. 10. Financial Literacy: Each One, Teach Many <ul><li>“ Your Path to Financial Freedom” (NEFE/Federation workbook) </li></ul><ul><li>Oct. 18 ‘02: Financial Lit.Day in New York </li></ul><ul><li>100 trainers trained since 1/03 -- </li></ul><ul><ul><li>NY,Philadelphia,Colorado, Texas, California… </li></ul></ul><ul><li>Funders: American Express, IBJ Mizuho, North Fork Bank </li></ul>
  11. 11. Membership <ul><li>New Record: 220 CDCUs </li></ul><ul><li>Assets: $100k-$800 Million </li></ul><ul><li>Totals (12/31/02): </li></ul><ul><ul><li>Assets: $2.7 billion (last year: $2.3) </li></ul></ul><ul><ul><li>CDCU members: 782,641 (last year: 702,244) </li></ul></ul>
  12. 12. Latino CU Conference <ul><li>April 11-13, 2002, San Diego </li></ul><ul><li>200+ attendees from U.S. and Latin America </li></ul><ul><li>HUD Sec’y. Martinez, NCUA Chair Dollar, Cong. Napolitano, Jaime Escalante ( Stand and Deliver) </li></ul><ul><li>Broad U.S. CU movement sponsorship </li></ul>
  13. 13. And… <ul><li>Technical Assistance </li></ul><ul><ul><li>CDFI, organizing, crisis intervention </li></ul></ul><ul><li>Faith-Based CU Network </li></ul><ul><ul><li>“ Harlem Plugged” </li></ul></ul><ul><li>AmeriCorps*VISTA </li></ul><ul><ul><li>EITC campaign, IDAs, financial lit. </li></ul></ul><ul><li>New York Community Fin’l. Network </li></ul><ul><li>Youth CU Network </li></ul>
  14. 14. Finances, ‘01 – ‘02 $8,501 $2.92mil. $645,750 $4.6 mil. $17.8 mil. 2001 $34,114 $2.97 mil. $622,000 $6.3 mil. $22.6 mil. 2002 Assets “ Net income” Revenue Loan Loss Reserve “ Net Worth”
  15. 15. Highlights: What’s New for 03-04 <ul><li>30 th Anniversary Meeting </li></ul><ul><li>CDCU Mortgage Center™ </li></ul><ul><li>CDCU Technology Advis.Services </li></ul><ul><li>“ Community Development Partners” </li></ul><ul><li>Alliance with Disability Community </li></ul>
  16. 16. 30 th Anniversary! <ul><li>San Juan, Puerto Rico </li></ul><ul><li>Wyndham El San Juan Hotel </li></ul><ul><li>June 9 –12, 2004 </li></ul><ul><ul><li>Latino CU Conference: June 9-10 </li></ul></ul><ul><ul><li>30 th Annual Meeting: June 10-12 </li></ul></ul>
  17. 17. CDCU Mortgage Center™ <ul><li>Access to web-based, state-of-the-art mortgage origination & processing </li></ul><ul><li>Federation back-up for all participating credit unions: </li></ul><ul><ul><li>Technical support </li></ul></ul><ul><ul><li>Management assistance (ALM) </li></ul></ul><ul><ul><li>Education & training </li></ul></ul><ul><li>Building toward CDCU secondary mkt. </li></ul>
  18. 18. CDCU Technology Advisory Services <ul><li>Help CDCUs select & implement technology </li></ul><ul><li>Promote partnerships with other credit unions </li></ul><ul><li>Technology grants </li></ul>
  19. 19. Community Development Partners <ul><li>Pilot program </li></ul><ul><li>Reach out to credit unions that share mission of expanding services to low-income people </li></ul><ul><li>Expand Federation’s resources, outreach, impact on CU movement </li></ul>
  20. 20. Alliance with Disability Community <ul><li>Assist people with disabilities to access credit & financial services </li></ul><ul><li>Establish linkages with local organizations serving people with disabilities </li></ul><ul><li>Jointly raise resources </li></ul><ul><li>Financial literacy </li></ul>
  21. 21. Challenges: ’03 – ‘04 <ul><li>Advocacy </li></ul><ul><ul><li>NCUA : secondary capital regs; PCA; examination practices; “Small CU” policies </li></ul></ul><ul><ul><li>CDFI Fund: appropriations; access for small CUs </li></ul></ul><ul><li>Capitalization Program </li></ul><ul><ul><li>Raising more money for Technology Grants Fund </li></ul></ul><ul><ul><li>Low interest rates </li></ul></ul><ul><li>CDCU Institute™ </li></ul><ul><ul><li>Continuation beyond ’04 </li></ul></ul><ul><li>Fundraising: 30 th Anniversary Campaign </li></ul>
  22. 22. Visit us at : www.cdcu.coop <ul><li>Events </li></ul><ul><li>Program Information & applications </li></ul><ul><li>New about CDCUs </li></ul><ul><li>Publications </li></ul><ul><li>Federal agencies </li></ul><ul><li>… . And more </li></ul>

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