The NCUA is hosting a webinar on Jan. 15 for credit unions looking to improve their service for low-income members.
Kicking off at 2 p.m., the webinar – “Profiling Products and Services for Underserved Members” – will include leaders from three credit unions sharing how they have developed unique offerings including second-chance loans, second-chance checking accounts and citizenship loans.
They will also discuss “an alternative to payday loans funded with U.S. Treasury Community Development Financial Institutions Fund proceeds and value-added partnerships with municipalities and community service organizations.”
Vanessa Lowe from the Office of Small Credit Union Initiatives is hosting the event. Participants include James Benson, the CEO of $31 million Elliot Federal Credit Union in Jeannette, Pa.; Robin Romano, CEO of the $33 million Marisol Federal Credit Union in Phoenix; and Paul Woodruff, vice president of Community Development at the $234 million St. Louis Community Credit Union in St. Louis, Mo.
The NCUA said the webinar would also provide an overview of the NCUA Community Development Revolving Loan Fund 2014 Grants Round.
The NCUA announced earlier this week that more than 2,000 credit unions have now qualified for LICU designation.