Federation Unveils New Brand, New Services - National Federation of Community Development Credit Unions

(July 19, 2007 – New York, NY) Today, the National Federation of Community Development Credit Unions (“Federation”) officially introduced a new look for the organization with an official launching of their new logo.

“Like many credit union organizations, our full name is a long one,” said Executive Director Clifford N. Rosenthal. “The core concept of our association is “federation” – independent organizations joining together to pursue common goals. Our new message attempts to reinforce this concept.”

The centerpiece of the Federation’s new logo is a multi-colored bridge, arching over the organization’s name and its new tag line: “Credit Unions United to Serve the Underserved.” The graphics and text underscore the Federation’s commitment to inclusion of all segments of the credit union movement.

The new logo continues the theme of the Federation’s Bridge Grant program, conducted between 2004 and 2006, which provided grant funding to “mainstream” credit unions to expand their efforts to reach the underserved, in partnership with community development credit unions (CDCUs) wherever possible.

Accompanying the rebranding, the Federation announced the launch of two new major initiatives, CU Breakthrough, its new consulting service to assist credit unions in expanding service to the underserved; and a $25-million capital campaign.

CU Breakthrough is a fee-based consulting service that will draw on the community development expertise of the CDCU movement to help all credit unions expand their outreach and impact in underserved communities. The goal of the program is to supply teams of experienced consultants – especially practitioners who have concrete experience working with the underserved – to convey their lessons to other interested credit unions.

“If your credit union is looking to implement new lending products or services for low-income, inner-city residents, Native Americans living on or near reservations, people living with disabilities, immigrants, or any other group vulnerable to payday and predatory lenders, CU Breakthrough can help,” said Rosenthal. “Our experienced consultants can help your credit union serve these niches and meet the needs of new and emerging markets within your field of membership.”

This year, the Federation’s Community Development Investments, formerly known as the Capitalization Program, turn 25. Marking this important anniversary, the Federation has launched a $25-million capital campaign to bring the program’s investment in low-income credit unions and CDCUs up to $50 million within four years. (See separate release.)

“While CDCUs will always be central to our mission,” explained Rosenthal, “organizationally we feel it’s import that we collaborate with all types of credit unions in a common mission of serving low- and middle-income communities; those who are most in need of credit union services. CU Breakthrough will help accomplish this by bring the knowledge and expertise of the Federation to credit unions of all sizes across the country; and our capital campaign will help us to further strengthen CDCUs enabling them to be even more innovative in serving people of modest means. This is a big part of our strategic vision of building one movement,” he added.