NCIFTRUST at aol.com
05-10-2001, 12:29 PM
Dear Development Finance Colleague:
Please think once more about joining us or sending a senior manager to be
part of NCIF's Network Conference in New Orleans, May 29-30. The Hotel has
extended its $139 conference rate through TOMORROW, Friday, May 11.
The Conference schedule is rich with resources and opportunities to enhance
your development banking operation, as well as the opportunity to network
with dozens of your colleagues in development banking institutions around the
country, funders, institutional investors and regulators who have a keen
interest in development banking.
Day One will focus on the New Markets Tax Credit (NMTC), pulling together
architects of the legislation, attorneys with expertise in
development-oriented tax credits and the issues your bank as a potential
issuer must consider, and institutional investors with an interest in
supporting development banks and using the credit. The Conference is your
place to learn about the NMTC opportunity, ask questions and begin to form a
strategy for your bank. We will cap off the day with a reception featuring
traditional New Orleans fare at Dryades Savings Bank, a New Orleans, African
American owned certified CDFI bank.
Day Two will focus on tools, costs and benefits of providing retail financial
services and alternatives to payday/predatory loans in the challenging
markets we serve. Sessions include:
Innovation in Retail Products and Services--a market scan--from card based
"checking" accounts checking accounts that screen and train those rejected by
Check Systems to Earned Income Tax Credit-focused (EITC) starter savings
accounts to machines that cash checks and provide money orders to check
casher services and partnerships.
Case Studies that look more closely at the operating requirements and results
for three categories of product/service:
Starter Accounts--from card-based savings and checking to EITC savings to
"Get Checking"--the Milwaukee program in use in approximately 14 banks and
credit unions where customers who fail Check Systems are further screened,
trained and given accounts.
Check Cashing Services and Partnerships--as practiced by Union Bank in its
Cash&Save program (as well as its substantial ownership position in the Nix
Check Cashing company), RiteCheck/Bethex Credit Union and Banco Popular.
Alternative Payday/Predatory Loans--as practiced by ASI Credit Union in
Louisiana, Faith Central Credit Union in Cleveland and First Bank of the
Americas in Chicago, which pulls together a range of transaction and lending
services in several check cashing-like mini branches in Chicago's Latino
Southwest side.
You will also hear from Steve Cross, FDIC Director, Division of Compliance
and Consumer Affairs about regulatory interest in meeting the needs of the
underbanked, and the FDIC's joint project with the Department of Labor to
open 800 financial literacy kiosks in Welfare to Work centers around the
country, and to distribute the curriculum to any community based organization
or church that would like to use it.
NCIF has recently received a grant from the Fannie Mae Foundation to support
market testing of these types of products in development banking institutions
and is in the process of seeking additional financial support to expand this
work. We hope to involve a number of banks and selected credit unions in
working together to learn which products and services are most effective.
Please come and learn about this project; we hope you may be a part of it!
As always, please feel free to call me with questions or comments at
773-420-4910. I have attached the Conference Registration for your
convenience. Just fax it back and call Hotel Inter-Continental TODAY at
1-800-445-6563 to get the National Community Investment Fund rate of $139.
Very truly yours,
Lisa Richter
Fund Advisor
National Community Investment Fund
773-420-4910
This post transferred from the cdb-l mailing list
Please think once more about joining us or sending a senior manager to be
part of NCIF's Network Conference in New Orleans, May 29-30. The Hotel has
extended its $139 conference rate through TOMORROW, Friday, May 11.
The Conference schedule is rich with resources and opportunities to enhance
your development banking operation, as well as the opportunity to network
with dozens of your colleagues in development banking institutions around the
country, funders, institutional investors and regulators who have a keen
interest in development banking.
Day One will focus on the New Markets Tax Credit (NMTC), pulling together
architects of the legislation, attorneys with expertise in
development-oriented tax credits and the issues your bank as a potential
issuer must consider, and institutional investors with an interest in
supporting development banks and using the credit. The Conference is your
place to learn about the NMTC opportunity, ask questions and begin to form a
strategy for your bank. We will cap off the day with a reception featuring
traditional New Orleans fare at Dryades Savings Bank, a New Orleans, African
American owned certified CDFI bank.
Day Two will focus on tools, costs and benefits of providing retail financial
services and alternatives to payday/predatory loans in the challenging
markets we serve. Sessions include:
Innovation in Retail Products and Services--a market scan--from card based
"checking" accounts checking accounts that screen and train those rejected by
Check Systems to Earned Income Tax Credit-focused (EITC) starter savings
accounts to machines that cash checks and provide money orders to check
casher services and partnerships.
Case Studies that look more closely at the operating requirements and results
for three categories of product/service:
Starter Accounts--from card-based savings and checking to EITC savings to
"Get Checking"--the Milwaukee program in use in approximately 14 banks and
credit unions where customers who fail Check Systems are further screened,
trained and given accounts.
Check Cashing Services and Partnerships--as practiced by Union Bank in its
Cash&Save program (as well as its substantial ownership position in the Nix
Check Cashing company), RiteCheck/Bethex Credit Union and Banco Popular.
Alternative Payday/Predatory Loans--as practiced by ASI Credit Union in
Louisiana, Faith Central Credit Union in Cleveland and First Bank of the
Americas in Chicago, which pulls together a range of transaction and lending
services in several check cashing-like mini branches in Chicago's Latino
Southwest side.
You will also hear from Steve Cross, FDIC Director, Division of Compliance
and Consumer Affairs about regulatory interest in meeting the needs of the
underbanked, and the FDIC's joint project with the Department of Labor to
open 800 financial literacy kiosks in Welfare to Work centers around the
country, and to distribute the curriculum to any community based organization
or church that would like to use it.
NCIF has recently received a grant from the Fannie Mae Foundation to support
market testing of these types of products in development banking institutions
and is in the process of seeking additional financial support to expand this
work. We hope to involve a number of banks and selected credit unions in
working together to learn which products and services are most effective.
Please come and learn about this project; we hope you may be a part of it!
As always, please feel free to call me with questions or comments at
773-420-4910. I have attached the Conference Registration for your
convenience. Just fax it back and call Hotel Inter-Continental TODAY at
1-800-445-6563 to get the National Community Investment Fund rate of $139.
Very truly yours,
Lisa Richter
Fund Advisor
National Community Investment Fund
773-420-4910
This post transferred from the cdb-l mailing list