NEW YORK, N.Y. — The National Federation of Community Development Credit Unions has enlisted the $3.6 billion American First Federal Credit Union, headquartered in Ogden, Utah, as a participant in its Community Development Partners Program.
The Development Partners program seeks to help "mainstream" credit unions and community development credit unions get together to work on bringing more low-cost financial services to low-income communities. With the addition of America First, the Federation now has 38 development partners, with combined assets of $81 billion and almost eight million members, the Federation said.
"America First Credit Union is pleased to affiliate with the Federation in sharing our commitment for social responsibility. The efforts expended on behalf of CDCUs further our mutual goal of financial success and financial stability for people from all walks of life," said Tom Connors, board chairman for America First Credit Union.
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"We are excited about this partnership with the largest credit union in Utah and one of the biggest in the country. The leadership of America First Credit Union is clearly committed to supporting the work of the Federation and to developing innovative solutions to address the needs of underserved populations," said Pablo DeFilippi, associate director of membership services at the Federation.
"We'd especially like to recognize the vision of Chairman Tom Connors and CEO Rick Craig regarding the social responsibility and accountability of larger credit unions. Their commitment sends a great message to the credit union movement," said Cliff Rosenthal, executive director of the Federation.
Since it got underway in 2004, the Federation's partners have opened new branches in low-income areas; offered services to immigrants; helped members with credit repair or access to a first loan; offered alternatives to "payday" loans; financed affordable housing; and/or provided technical or financial assistance to local CDCUs, the Federation reported.
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