MCUCF Hosts CDFI Roundtable
Credit unions that received Community Development Financial Institution (CDFI) certifications last year met on March 27 for a roundtable meeting hosted by the Missouri Credit Union Charitable Foundation (MCUCF). Fifteen credit union representatives took part in the all-day training session facilitated by the National Federation of Community Development Credit Unions. Attendees benefited from expert guidance and discussions on growth opportunities and expectations for the CDFI program.
“It was a pleasure to meet with the representatives from the Federation, and it's reassuring to know that there is a valuable industry support group in place,” says Kirk Mondy, MCUCF chairman and president of Poplar Bluff Federal Credit Union. “Their training provided our CDFI-certified credit unions with direction on their next steps and how this certification strengthens their capacity to serve the underserved. The Missouri Credit Union Charitable Foundation is dedicated to supporting these credit unions with the appropriate training throughout this process.”
The agenda included:
- Benefits of the low-income designation and CDFI certification
- Understanding the low- to moderate-income market
- Growth opportunities
- Best practices for serving moderate income communities
- Tracking data and measuring the impact of CDFIs
- CDFI compliance
A CDFI steering committee was created by four credit unions, Alliance Credit Union (Fenton), Electro Savings Credit Union (St. Louis), Poplar Bluff Federal Credit Union and United Credit Union (Mexico).
To help spread the credit union difference to more Missouri communities, this steering committee has provided funding for future training programs for all credit unions in the state and the statewide consumer awareness campaign, Bank On More.
Caption (top): Pictured are representatives of the CDFI steering committee with Don Cohenour (center), president/CEO of the Missouri Credit Union Association. Members of the committee include (from left) Kirk Mondy, president/CEO for Poplar Bluff Federal Credit Union, Kim Riffe, CFO of United Credit Union, Stan Moeckli, president/CEO of Electro Savings Credit Union, and Tim Stephens, president/CEO of Alliance Credit Union.
Caption (bottom): CDFI-certified credit union staffers pose for a photo with representatives from the National Federation of Community Development Credit Unions.