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News Now

CU System
Self-Help is first CDFI Loan Fund member at Atlanta Fed
ATLANTA (8/9/10)--Self-Help Ventures Fund, a financing affiliate of the Center for Community Self-Help, is the Federal Home Loan Bank of Atlanta's first Community Development Financial Institution (CDFI) loan fund member and the first CDFI-affiliated organization to join a federal home loan bank, the bank announced Thursday. The Center for Community Self-Help, based in Durham, N.C., works closely with its financing affiliations, Self-Help CU and Self-Help FCU, to provide financing, technical support, consumer financial services, and advocacy for economically disadvantaged individuals. In January, the Federal Housing Finance Agency implemented provisions of the Housing and Economic Recovery Act of 2008 that permitted qualifying CDFIs to become members of a federal home loan bank. CDFIs include community development credit unions. Since January, FHLBank Atlanta has worked closely with Self-Help's leadership to bring its fund through the membership process, the bank said. "We have worked for 10 years to make this partnership possible, and together with the Federal Home Loan Bank of Atlanta, we believe we can provide the financing that will enable thousands of well-qualified homeowners to buy their first homes," said Martin D. Eakes, CEO of the Center for Community Self-Help.


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