Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
AARP names Eakes to Ten Who Inspire list
WASHINGTON (12/30/08)--Martin Eakes, president/CEO of Self-Help CU in Durham, N.C., was recently named to AARP’s “Ten Who Inspire” list. The list includes:
* Actress Glenn Close, mental health advocate; * Alma Powell, children’s advocate; * Katherine Freund, transportation advocate; * Musician Quincy Jones, global poverty fighter; * Rose Nakamura, compassionate caregiver; * Eakes; * Actor Peter Gallagher, Alzheimer’s activist; * David E. Hayes-Bautista, Ph.D, Latino health researcher; * Richard Cohen, voice for the chronically ill; and * Susan Love, M.D., cancer crusader.
Eakes was noted for his work at Self-Help, which serves low-income individuals. AARP said the credit union has a default rate of less than 1%. “If I have a choice between making a loan to a rich person or one to a poor person, solely on grounds of credit risk, I’ll pick a poor person every time,” Eakes told AARP in its January issue. “They simply take care of their debts better.” Eakes started the credit union in 1984. Since then, it has provided more than $5 billion in loans to homeowners, non profits and small businesses. He led a fight for the state’s anti-predatory lending law in 1999 as founders for the Center for Responsible Lending, and has warned federal legislators that poor financial practices would trigger foreclosures. He is currently working to make sure the subprime meltdown doesn’t hurt those most at risk. “We’ve got proof that families of limited financial means will be incredibly great borrowers if given the chance,” Eakes told the magazine. To read the full AARP article, use the link.
Other Resources

RSS print
News Now LiveWire
.@BelvoirFederal revamped the checking acct. it offers to active duty military members and achieved 23% growth on the product in 1 mo.
7 hours ago
.@FinancialCmte markup of Reg D Study Act set for Tuesday. CUNA will submit support letter. http://t.co/cDWkZ0Q0x1
11 hours ago
The 54th Western CUNA Management School graduated 89 students on July 25.
12 hours ago
.@CUNA Bank Secrecy Act training to reach 38 Mich. state examiners #NewsNow http://t.co/7HDPgwih8G
13 hours ago
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
7 25 ago