The National Federation of Community Development Credit Unions helps low-income people and communities achieve financial independence through credit unions. Credit unions are nonprofit, cooperative institutions, dedicated to the empowerment of their low-income members. We give them the financial and technical tools to succeed.

Description and/or History:
The National Federation of CDCUs is a nonprofit, charitable association serving credit unions in low-income communities. A substantial portion of our members are in New York City. We provide capital, training and professional development, technical assistance and management support, and program development to our member low-income credit unions.The Federation raises capital from banks, religious organizations, social investors, foundations, and government and charters these funds into local credit unions. We help community groups organize new credit unions, assist existing credit unions with management and regulatory issues, operate an intensive training program for credit union staff and volunteers, and operate programs for EITC/VITA, home ownership counseling, and more.
The National Federation was formed in 1974 by representatives of low-income credit unions nationwide. Since its founding, it has been based in New York City (primarily, lower Manhattan). The Federation co-founded the Community Development Financial Institutions (CDFI) movement, through which a special fund in the U.S. Treasury was established to promote community-based lending and investment. We have assisted the organizing of new credit unions on the Lower East Side, Harlem, Washington Heights, and Central Brooklyn.

Contact people:

Clifford Rosenthal, Chief Executive Officer, (212) 809-1481, (email) Pamela Owens, Program Director, (212) 809-1850, (email) Alice Greenwald, Program Director, (212) 809-1850, (email)

Address:

116 John Street, 33rd Floor NEW YORK, NY 10038 (See a map)

Directions:

Take the A or C to Broadway/Nassau, or the 2,3,4,5 to Fulton Street. Walk one block South of Fulton to John Street. Walk down hill to 116 John Street.   Nearest Metro/Subway Stop: 2,3,4,5,A,C,   Walk distance (in minutes): 5