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Federation launches first of regional conferences
NEW ORLEANS (3/31/11)--The National Federation of Community Development Credit Unions last week launched its new series of regional conferences, Credit Unions and Community Development: Lessons and Impact, in New Orleans. The Mid-South Regional Conference was organized in collaboration with the Louisiana Credit Union League and Metairie, La.-based Jefferson Financial CU. The event was held at the credit union. It was designed to help credit unions:
* Learn about innovative programs and products to meet the needs of low and moderate income consumers; * Identify resources to implement high-impact programs; * Develop community partnerships to leverage and expand credit union service to the underserved; and * Better understand benefits of community development financial institutions (CDFI) certification and the low-income designation.
Click to view larger image Speaking at the National Federation of Community Development Credit Unions’ first regional conference in New Orleans are, from left, Connie Major, executive vice president of the Louisiana Credit Union League; Kristen Reedy, vice president of operations at Jefferson Financial CU, Metairie, La.; and federation President/CEO Cliff Rosenthal. (Photo provided by the Louisiana Credit Union League)
"Among our primary goals for these regional conferences is to reach out to credit unions who might not consider themselves CDCUs, but who may in fact be doing a lot to serve their low- and moderate-income members," said federation President/CEO Cliff Rosenthal. "Often, these so-called 'mainstream' credit unions are doing outstanding community development work in their communities, and our hope is that these meetings will help us identify those that are already engaged in this work and provide them with additional resources and information to better meet their mission," he added. Joe Arnold, chief financial officer at Carter FCU, a $200 million asset credit union in Springhill, La., said he learned "that low-income-designated credit unions and CDFI-certified credit unions can be exempted from the member business lending (MBL) cap. We've been actively involved in the industry's efforts in increasing the MBL cap, but little did I know that our credit union already possesses the ability to increase MBL through our CDFI certification." The conference also included a track on foreclosure prevention strategies. League President/CEO Anne Cochran said the turnout for the first joint venture "was overwhelming and the presentations have generated a lot of interest in moving forward."
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