Credit unions were caught off guard in 2009, during the housing crisis, when the CDFI Fund provided a supplementary grant round and provided secondary capital. CU Strategic Planning is hosting an educational town hall Wednesday, March 25 from 2-3 PM ET to ensure your credit union is prepared should the opportunity arise in response to the COVID-19 pandemic.
In response to the housing crash in 2009, the CDFI Fund provided a supplementary grant round and provided secondary capital. CU Strategic Planning, in addition to CUNA, NAFCU, Opportunity Finance Network and CDFI Connect, is advocating for an increase in current funding, a supplemental funding round and raising the NCUA's Community Development Revolving Loan Fund level.
Register here to learn how other credit unions are preparing to handle members who are suddenly laid off with empathy while dealing with related risks, build loan loss reserves and access secondary capital. Leading the town hall will be:
Ronaldo Hardy, Former CEO of Southwest Louisiana CU and current Chief Diversity and Inclusion Officer/Owner for CU Strategic Planning
Sharon Hall, former CEO of Express Credit Union and current CFO/Owner for CU Strategic Planning
Mike Beall, Chief Strategic & Advocacy Officer/Owner for CU Strategic Planning
During the town hall, attendees will learn:
How mainstream credit unions can get access to CDFI funds
How CDFI-certified credit unions can prepare
How CDFI grant funds can be used for loan loss reserves
How to use secondary capital in this unprecedented time