TACOMA, Wash.–The Louisiana CU League has partnered with CDFI grant-writing firm CU Strategic Planning to assist Louisiana credit unions in becoming certified community development financial institutions (CDFIs) in order to be better poised to serve the state’s low-income residents and help uplift their communities.
The two organizations are partnering together to foster the purpose of Community Development Across Louisiana (CDAL). CDAL focuses on providing services to the state of Louisiana’s residents who need them most, as well as increasing loan growth to make credit unions more financially successful and healthy. The project follows CU Strategic Planning’s work with the League of Southeastern Credit Unions serving Florida and Alabama and past, and past record-breaking efforts to certify credit unions in Missouri, the company said.
To achieve these goals, CDAL will train Louisiana credit unions on how to better serve low-income markets and price products for riskier markets. CU Strategic Planning will develop statewide partnerships designed to drive loan growth and distinguish credit unions as not-for-profit cooperatives and the primary financial resource for the underserved.
Two CDFI-certified credit unions in Louisiana, Pelican State Credit Union and Shreveport Federal Credit Union, have already implemented CU Strategic Planning’s “HERO Community Development Certified Financial Counseling” training and achieved great success. These winning programs have turned around many members’ lives, sparking tremendous growth within their communities.
“This [CDFI] certification and training program has helped us build a reputation with our members as the place to go for honesty,” said Pelican State Credit Union CEO/President Jeffrey Conrad. “This certification training allows communication to occur and reinforces the fact that ‘bad things happen to good people’ and no one person is alone with their financial troubles. We take pride in being the financial institution that is there to help members but more importantly all people.”
For info: www.creditunionstrategicplanning.com