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CU System
Delfin Thomas highlight CU outreach on CNN
FAIRFAX, Va. (5/13/09)—National Credit Union Foundation (NCUF) Executive Director Steve Delfin and Fairfax County FCU President/CEO Joe Thomas are appearing daily on CNN Headline News’ Cox “Local Edition.” Delfin focuses on the importance of credit unions reaching emerging markets and their role to better serve low-wealth, modest means households and working families. “This is work that’s very important right now in our environment with what’s happening in the financial services sector,” Delfin said. “And it’s also important for the growth of credit unions--because in emerging markets like the Hispanic market, that’s where credit unions are going to see their growth in the future.” Thomas focuses on how Fairfax County (Va.) FCU is reaching the Hispanic market. Fairfax has $223 million in assets. With a $99,900 NCUF Innovation Grant, Thomas said “we’ve been able to increase our educational output and our products and services to increase savings [in the Hispanic community] and ultimately generate wealth for their local families.” One of the most popular products is Safe Accounts for immigrants who don’t have a Social Security Number. “They’re still required by the Internal Revenue Service(IRS) to have a Taxpayer Identification Number,” Thomas pointed out. “We’ve now become an agent for people to come to us, and we will be able to act on their behalf and get their Taxpayer Identification Number ... We will submit the forms to IRS on their behalf.” CNN Headline News’ interview with Delfin and Thomas began airing May 5 and will continue to air seven times a week through July 5. The cable television broadcast reaches 244,000 households each day throughout Fairfax County, home to diverse communities near Washington, D.C. The video is also posted on the Cox YouTube channel. With additional visibility and outreach made possible by an Innovation Grant, Fairfax County FCU projects that by year-end, Hispanics will account for up to 25% of the credit union’s new members. Delfin concluded that as long as credit unions continue investing in the Community Investment Fund, NCUF will be able to continue funding programs for credit unions and their members.
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