Through this new partnership, Inclusiv will become the official financial inclusion and community development support center for the Albany-based NYCUA. In that capacity, the two organizations will work together to provide training, guidance and assistance to New York credit unions to increase participation in CDFI, MDI and low-income programs. NYCUA member credit unions will also be eligible for discounted membership with Inclusiv. The New York-based organization is a CDFI intermediary and national network of nearly 400 community development credit unions dedicated to helping low- and moderate-income people and communities achieve financial independence through credit unions.

"The New York Credit Union Association and Inclusiv have worked closely together for years, and formalizing this partnership now makes sense not just for our respective organizations, but for the New York credit union community as a whole," NYCUA President/CEO William J. Mellin said. "With the COVID-19 pandemic having a disproportional impact on the individuals, families and communities already marginalized and struggling, the need for fair and equitable access to the financial system could not be more urgent. Credit unions offer consumers a path to financial stability and freedom, and we are excited to partner with Inclusiv to bring the benefits of credit unions to more New Yorkers while expanding the CDFI network in the state."

Cathie Mahon, president/CEO of Inclusiv, noted the partnership will enable Inclusiv to deliver specialized resources and expertise to credit unions throughout New York State, many of which already serve vulnerable communities and could expand their capacity by accessing external resources.

Bill Carhart, president/CEO of the $124 million Oswego County Federal Credit Union in Oswego, N.Y., said becoming a CDFI credit union in 2019 was one of the best choices that the organization has made.

"We are the only Oswego County-based CDFI, and we have been able to grant an average of 83% of all loans to our CDFI target markets and 70% of all loan dollars to our target markets over the past two years," he said. "That translates into nearly $35 million for our members residing in either low-income areas or investment areas of Oswego County. Those numbers make a difference to thousands of members."

Carhart pointed out that Inclusiv's staff has played an instrumental part in the credit union's education and helped it navigate the grant opportunities that exist in the low-income credit union and CDFI worlds.

Oswego County FCU serves more than 12,000 members.