Neighborhood Trust Federal Credit Union is a
community development financial institution A community development financial institution (US) or community development finance institution (UK) - abbreviated in both cases to CDFI - is a financial institution that provides credit and financial services to underserved markets and populations, ...
serving low-income residents in the New York City neighborhoods of
Washington Heights,
Inwood,
Hamilton Heights
Hamilton Heights is a neighborhood in the northern part of Manhattan in New York City. It is the northernmost part of the West Harlem area, along with Manhattanville and Morningside Heights to its south, and it contains the sub-neighborhood an ...
, and
West Harlem. The
credit union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...
’s non-profit parent organization,
Neighborhood Trust Financial Partners, works with a wide network of community-based organizations to provide financial literacy training to low-income adults throughout New York City.
Neighborhood Trust Financial Partners (formerly Credit Where Credit Is Due) was founded in 1994 by community activists
Mark D. Levine
Mark D. Levine (born April 30, 1969) is an American politician and educator serving as the 28th Borough President of Manhattan since 2022. Previously, he served as member of the New York City Council from 2014 to 2021, where he represented the ...
and Luis De Los Santos, with a mission of empowering the overwhelmingly low-income, Latino residents of Northern Manhattan. Neighborhood Trust FCU received its federal charter in 1996, and opened to the community in a formerly abandoned bank branch in 1997. Since 2013 Neighborhood Trust FCU has been led by Rafael Monge-Portaro.
Neighborhood Trust FCU has grown to a membership of nearly 5,000, and has cumulatively lent out more than $15 million in small loans, helping local residents purchase home computers, pay for education, pay off
loan shark
A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and generally operates outside the law.
Description
Because loan sharks operate mostly illegally, they cannot reasonably ...
s (known locally as ''prestamistas''), start small businesses, etc. Today Neighborhood Trust's financial education and counseling programs are in over 30 community organizations throughout New York City, reaching nearly 6,000 individuals annually.
References
External links
Neighborhood Trust's website
Credit unions based in New York (state)
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