Chicago CDCU Honored For Its Efforts
CHICAGO - The North Side FCU, a $9 million community development credit union headquartered on the north side of Chicago, has been awarded a $10,000 grant as part of a Chicago Neighborhood Development Award. Awards are given in five categories by a juried process that includes representatives of the architectural, financial, government and development leadership of the city. North Side is the first financial institution to be recognized in the CNDA's 10 year history, the credit union said. The award was given at the CNDA event, for which Mayor Richard M. Daley was the keynote speaker and which attracted more than 1,200 of the city's civic, corporate and philanthropic leaders to a ceremony at the Sheraton-Chicago Hotel and Towers. "I think it makes the point that affordable financial services are a key part of what builds a healthy, vibrant community," said North Side CEO, Ed Jacob. "A good credit union helps keep dollars in the community. I honestly believe there is lots of money flowing in low-income communities; it just doesn't stay here long," he added.