SAN FRANCISCO – Community Development Credit Unions in the SanFrancisco Bay area were featured recently in an article in the SanFrancisco Chronicle, the region's largest newspaper. A recentarticle on the work being done by area CDCUs focused on the effortsof brand new People's Community Partnership Federal Credit Union, a$2.8 million dollar institution based in West Oakland, Californiawith 800 members and the more established $8.5 million NortheastCommunity Federal Credit Union based in San Francisco, the $54million Santa Cruz Community Credit Union, and the $8 millionMission Area Federal Credit Union based in San Francisco. Thearticle focused on the credit unions' work with low incomeresidents in the mostly affluent San Francisco Bay area, andmentioned specifically Northeast's small business lending. “Ourunderwriting has been flexible in recognizing nontraditionalsources of revenue: The cash economy, tips, people who say theyhave `mattress money' and show proof of it,” the paper quotedNortheast CEO Michael Chan.
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