National Federation of Community Development Credit Unions, Inc.
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- EIN 11-2421972
- info@cdcu.coop
- 800-437-8711
- 116 John Street 33rd Floor New York NY 10038 USA
- http://www.natfed.org
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Nonprofit Overview
Causes: Community & Neighborhood Development, Credit Unions, Economic Development, Microfinance
Mission: The National Federation of Community Development Credit Unions was incorporated in 1974 as a 501(c)(3) charity with the mission of representing and serving the credit unions that serve low-income Americans. Our member credit unions -- CDCUs -- provide a safe, dignified alternative to the pawn shops, loan sharks, and numerous other "predatory lenders" that drain income from low-income communities. CDCUs are the nonprofit, self-help solution for inner-city, rural, and reservation communities beset by poverty. The National Federation of CDCUs supports low-income credit unions by providing capital, technical support, advocacy, and assistance in developing innovative programs. We are governed by representatives of CDCUs and are entirely accountable to them. Our supporters include banks and financial institutions, foundations, religious organizations, and individuals.
Results: Our member CDCUs provide affordable credit, savings, transactional services and financial education to more than 1 million residents across the United States. Furthermore, CDCUs provide a safe, dignified alternative to the pawn shops, loan sharks, and numerous other “predatory lenders” that drain income from low-income communities. CDCUs are the nonprofit, self-help solution for inner-city, rural, and reservation communities beset by poverty.
Direct beneficiaries per year: 200+ community development credit unions (CDCUs)
Geographic areas served: Entire United States
Programs: The National Federation of Community Development Credit Unions was incorporated in 1974 as a 501(c)(3) charity with the mission of representing and serving the credit unions that serve low-income Americans. Our member credit unions -- CDCUs -- provide a safe, dignified alternative to the pawnshops, loan sharks, and numerous other "predatory lenders" that drain income from low-income communities. CDCUs are the nonprofit, self-help solution for inner-city, rural, and reservation communities beset by poverty.
The National Federation of CDCUs channels capital into low-income credit unions in the form of deposits, loans, etc. We provide an intensive, three-year management training program, the CDCU Institute, as well as extensive on-site technical assistance. We have developed special programs for Individual Development Accounts (IDAs), which encourage low-income people to save; program to promote microenterprise lending; outreach to faith-based credit unions, Latino organizations, and others; support for youth credit union efforts; and assistance to community groups seeking to organize new credit unions.
The National Federation is a co-founder of the national Community Development Financial Institutions Coalition as well as the New York State CDFI Coalition.