National Credit Union Foundation Looking for CUs Serving Native Americans
The National Credit Union Foundation (NCUF) is in the early stages of organizing a convening for credit unions who are serving or who are interested in serving Native Americans. NCUF is asking those credit unions to then complete this brief survey to identify key topics and interest for the convening. The convening will result in a white paper forming the basis for a long-term, asset-building Native American program for the Foundation and credit unions.
According to the 2000 U.S. Census, about 2 million Native Americans live in the United States and they continue to be among the most impoverished people in our nation. The 2000 Census found that the real median income for American Indians and Alaska Natives was approximately $32,866—$16,000 below the real median income for non-Hispanic white households ($48,000). Many American Indian reservations and native villages are remote with high rates of unemployment, stymied business development, and severe social and health problems, all of which contribute to depressed economies and a cycle of poverty. As a result, few Native American communities can attract financial depository institutions or can sustain them if they do locate within the community. Native Americans living in urban areas are also among the most underserved, low-income people in the country. They often fall prey to predatory lenders and payday lenders like other impoverished urban populations.
The Foundation believes that credit unions are the “natural” financial institution to serve Native Americans. The Foundation also believes that while some credit unions are serving Native Americans, many more could do so. To help measure interest and identify key discussion topics, the Foundation has prepared a brief survey for credit unions. If you are interested in serving Native Americans or sharing the details of your current services to Native Americans, please complete the survey and email it to mdodson@ncuf.coop before close of business on Friday, April 21, 2006.
Contact Information
Martha Dodson
Institutional Relations Coordinator
National Credit Union Foundation
601 Pennsylvania Avenue, South Building, Suite 600
Washington DC 20004
Phone: 800-356-9655 ex 6751