NEW YORK — Community development credit unions were featured extensively at a recent conference focused on helping reach people without relationships to financial institutions, according to the National Federation of Community Development Credit Unions.

The Federation reported that the Eastern Regional Conference on Reaching Unbanked People brought together financial institution executives, regulators, development organization and philanthropists. In the course of discussing different strategies for bringing more people in the financial system, the attendees heard from five leaders from CDCUs or organizations that work with or sponsor CDCUs.

The role that CDCUs play in the community economic development of low-income communities often goes unrecognized by the larger community development finance field," explained Clifford N. Rosenthal, executive director of the Federation. "The reality is that CDCUs are some of the largest providers of affordable loans and microfinancing in the country and are often at the forefront in developing and testing specialized products and services for the populations they serve. It is certainly gratifying to see their efforts featured so prominently in a setting such as this," Rosenthal said.