A distributed credit union network in Black churches anchored by Hope Credit Union. To bring #Bankingblack to places where there is no black bank

1. REBIRTH
CREDIT UNIONNeighbors Helping Neighbors Build Intergenerational Wealth

2. DISCUSSION POINTS
Problem - The Need for Transformation
Case Study: Introduction of the Resurrected Life Community Church, UCC
RCDC, UCC Details and Finances
RCDC, UCC Federal Loan and Change Catalyst
Response Introduction
The Vision for Change
Financial Sources and Uses Statement
Pilot Program
Contact Information

3. THE NEED FOR TRANSFORMATION
GLOBAL PANDEMIC
The COVID-19 pandemic has harmed people of color more than it has white people and further
exposed long-standing health and economic inequalities. (Source: CDC)
RACIAL RECKONING
There is a growing surge of support for #BlackLivesMatter that expresses a call to dismantle structural
racism embedded in our economy by creating opportunity. For example, Netflix has committed 2% of
its deposits (or $100M) to financial institutions led by BIPOC as part of #BankBlack. (Source: NYT)
ECONOMIC CRISIS

4. We’re invisible and disposable to the traditional banks. They take our
money, our deposits, but we don’t get the loans that white churches get,
white businesses get. We are dehumanized by traditional lenders.
CASE STUDY: RESURRECTED LIFE
COMMUNITY CHURCH, UCC
led by Pastor Gregory Edwards
- Pastor Edwards

5. Allentown, PA in the Lehigh Valley
A United Church of Christ (UCC) congregation
Black led, predominantly African American
congregation with 200+ members
Managing control of Resurrected Community
Development Corporation, Inc. and Lehigh
Valley's Promise Neighborhoods Consortium
About the Church
$1.2 million annual revenues
from collections + RCDC, Inc.
Exceptional Credit: zero late or
missed payments on any
account
Financial History
CASE STUDY: RESURRECTED
LIFE COMMUNITY CHURCH, UCC
03
led by Pastor Gregory Edwards

6. Applied through local, white-led
lender
Didn’t get it; neither did other
local non-profits & black
businesses
Same scenario on PPPs played
out nationally, new study shows
(Source: Politico)
Federal PPP Loan
Pastor Edwards spoke to Rev. Dr.
Patrick Duggan, Executive Director,
UCC Church Building & Loan
Fund (CB&LF)
Pursued proposal from
Faith+Finance to create network of
church-based credit union nodes
Catalyst for Change
CASE STUDY: RESURRECTED LIFE
COMMUNITY CHURCH, UCC
led by Pastor Gregory Edwards

7. THE VISION
FOR CHANGE
09
Given that the essential cause of poverty in
underrepresented communities is intentional
underinvestment through historic barriers to capital access,
the prime directive of living into God’s economy is to
deploy local church assets for mission, and to remove any
and all barriers to, and reignite the flow of all resources -
including financial capital - in communities that have
been historically impoverished.
–Rev. Dr. Duggan

8. Church-based credit union network of micro branches (nodes)
Designed to establish church-based credit culture for the un- and underbanked
Supply money to capital structure supplies both principal and collateral of share secured loans
(deployed initially as small-dollar consumer loans of <$2500)
Time and programmatic success will allow for larger loans (i.e., car
loans, mortgages ,etc.)
Administrative support for nodes provided by Hope Credit Union
(well-established national credit union)
Rebirth CU helps establish a culture of credit, building on the church's
existing capacity and community leadership and a connection between
developing intergenerational wealth and reciprocal relationships across
class and race.
THE VISION FOR CHANGE

9. SOURCES AND USES STATEMENT
*$2,000 Avg Loan Size; 2.5% Loss; 200 Community Members; 250 Avg Deposit
Local Member Deposits
Community Business Deposit
Outside Deposits
DAF Invest
LLR Grants
Other Philanthropy
Total Sources of Funds:
Lending Capital (Total Loans)
Share Secure Collateral
Loan Loss Reserves (Pre-funded)
Administrative Cost
Overhead cost (.25 rate)
Consulting
Loan Fees (.25 rate)
Miscellaneous
Total Uses of Funds:
50,000
400,000
450,000
500,000
20,000
30,000
1,450,000 1,450,000
400,000
400,000
20,000
200,000
50,000
160,000
100,000
120,000
Sources uses

10. Loans for church members and others without bank accounts in
Allentown currently subject to predatory pay day lenders who
charge exorbitant interest for loans for emergency expenses
$500 to $2,500 loans (Share Secure Loans) guaranteed by an equal
amount of collateral, provided by affluent people of faith, who
are seeking a low-risk instrument to put their money where
their mouth is, demonstrating that #BlackLivesMatter
As Rebirth CU pilot progresses in Allentown, PA checking, CDs,
and other loan types may be added
Rebirth CU plans to expand the pilot with other church nodes
nationally, linking black and white churches, neighbors
investing in neighbors.
PILOT PROGRAM
Resurrected Life Community Church, UCC.

11. Cort Gross
Kevin Jones
in partnership with...
Bill Bynum
Patrick Duggan
Pastor Gregory
Edwards
CONTACT US
Phone: 415-317-4565
Email: Cort@wessven.com
Phone: 415-515-0426
Email: Kevindoylejones1@gmail.com
Ressurected Life
Community Church, UCC
CEO of Hope CU
UCC CBLF

12. QUESTIONS? LET US KNOW!