CDCU News Briefs

An e-publication from the Federation                                             May 2013
In this Issue
Launch of Cooperative Finance Leaders for America Fellowship Program
Joy Cousminer Inducted to Cooperative Hall of Fame
Federation Applauds State Leaders for Keeping Payday Lending Out of New York State
Annual Conference Hotel Discount Deadline May 10
Upcoming Webinars
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Cooperative Finance Leaders for America:
A Fellowship Program for Credit Unions

Application Deadline May 29th


The National Federation of Community Development Credit Unions (Federation) is launching an innovative pilot program to cultivate future leaders of the credit union movement. The Cooperative Finance Leaders for America (CFLA) will recruit, train and support 15 new and emerging professionals to be placed in leadership positions in credit unions dedicated to providing credit and safe banking services to low- and moderate-income communities. 

Participating credit unions will gain a new source of talented, diverse staff drawn from recent college graduates, graduate students, returning veterans, and displaced financial workers. Through a six-month paid fellowship, these new leaders will put their skills and passion for cooperative finance to work. The CFLA's intensive training program will include a two-week summer institute (one week in person; one week online) in August and ongoing support throughout the six-month fellowship. In addition, CFLA alumni will receive long-term support, in keeping with the goal that they will become the next generation of credit union CEOs and thought leaders. All fellowships are expected to begin in September 2013 and continue through February 2014.


Completed applications for both the fellows and credit unions are due on May 29th. Full description of the CFLA Program and links to the application form for credit unions and fellows can be found on the Federation website at:


We encourage credit unions and fellows to apply!

For additional questions, please contact Pamela Owens, Vice President of Programs at (212) 809-1850, ext. 215/ or Jason Chang, Program Associate at ext. 205/


Joy Cousminer, Founder and President/CEO of Bethex FCU Inducted into Cooperative Hall of Fame

Joy CousminerCredit union activist Joy Cousminer, who has devoted 58 years to breaking economic and educational barriers and improving the lives of people in New York's economically distressed South Bronx area, will be one of four cooperative innovators honored May 8 at the Cooperative Development Foundation's (CDF) 2013 Cooperative Hall of Fame Induction Ceremony. Cousminer will be the second woman from the credit union movement to receive this honor.

"The many innovative programs and partnerships offered by Bethex reflect (Cousminer's) recognition of the financial, educational, and business needs of the people of the South Bronx and her efforts to meet them. Her work embodies the ideals of community spirit, determination, vision, and cooperation. She is a leader with a quintessentially cooperative spirit," the CDF website says of Cousminer's nomination.

She will be honored at a dinner and recognition ceremony held at the National Press Club. The other inductees are:

* Steven Dawson, Founding President of the Paraprofessional Healthcare Institute;
* Rebecca Dunn, Executive Director of the Cooperative Fund of New England; and
* Leland Ruth, Co-founder and Board Secretary, California Center for Cooperative Development.

The other community development credit union movement representatives who were previously inducted to the CDF Hall of Fame are Woodrow Keown and Earnest Johnson.

National Federation of Community Development Credit Unions Applauds State Leaders for Keeping Payday Lending Out of New York State

Last week marked a significant victory for consumer advocates and low-income consumers when Governor Andrew Cuomo and Department of Financial Services (DFS) Superintendent Benjamin Lawsky opposed efforts by the check cashing industry to introduce high cost payday-type loans into the state's financial services landscape with the Short-term Financial Services Loan Act (Assembly Bill 1113-A).

"We applaud the Governor and Superintendent for their public opposition and ongoing efforts to protect New York's consumers" said Cathie Mahon, President and CEO of the National Federation of Community Development Credit Unions. Advocacy work by the Federation, its credit union members and long-standing partners in the 150-strong New Yorkers for Responsible Lending (NYRL) coalition helped set the stage for the Governor's public repudiation of the bill. New York State is one of 15 states that ban the loans.

In publicly opposing the so-called "check casher" bill, the Governor and Superintendent ensured that it would not pass. According to Ms. Mahon, "This represents an important victory for consumer advocacy groups who have long argued this bill would have opened the door to payday loans in New York--the types of short-term, small dollar loans with interest rates as high as 400%, that drain income from individuals and communities."

Click here to read the full press release.
Coming Next Month: Our Annual Conference!
2013 Annual Conference: Financial Inclusion Through Cooperative Finance
June 5-8, 2013 | Baltimore, Maryland

  2013 Conference Logo

Mark your calendars and make your plans to join us this summer in Baltimore for the 2013 Annual Conference: Financial Inclusion Through Cooperative Finance!


Our Annual Conferences bring together leading thinkers, researchers, policymakers and practitioners in community development and financial empowerment together with credit unions that are innovating and adapting new strategies and approaches to better serve their members and communities.


Conference sessions and workshops will focus on insightful tracks in the areas of research, technology, products and services, resource development, compliance and sustainability, and much more!


Registrations are now openLearn more about our conference at:


Annual Conference Hotel Discount Ends May 10

Remember to make your hotel reservations before the May 10th deadline to received the discount rate. We have negotiated a rate of $159.00 per night for single or double occupancy. Be sure to mention "Federation Credit Union Conference" to receive our special conference rate.

Sheraton Inner Harbor Hotel
300 South Charles Street
Baltimore, MD 21201
Reservations: 1-800-325-3535

Additional hotel information and airline travel booking codes available at:
Upcoming Webinars

Federation's Supervisory Committee Training Webinar Series

Attracts Large Number of Committee Members


News of fraud and embezzlement has accelerated interest in the Federation's Supervisory Committee Training Webinar Series. The evening training sessions are designed to meet the needs of members seeking guidance and education for committee members on roles, responsibilities and internal audit procedures.   


Evaluations have been positive and when asked what part of the session is most useful, the common response is: "All of it!" Members are provided with information on early detection methods of internal non-compliant or suspicious activity, audit education and resources to help protect credit unions from internal fraud and embezzlement, as well as tools for committee members to conduct more effective internal audits.


The roster of dynamic speakers includes Julie Kappenman, Director of Association Compliance Services for Mountain West Credit Union Association, Ken Otsuka, Senior Risk Management Consultant, CUNA Mutual Group, Joette Collets, Regional Manager, Risk Management CUNA Mutual Group, and Deputy District Attorney James Teh of the San Diego District Attorney's Office.


There is still time to register for the remaining sessions. Links to the remaining workshops are listed below:


Reports and Compliance Review

Thursday, May 9th | 6:00 PM - 7:30 PM EDT     

For More Information and to Register              


Deputy District Attorney Shares the Legal Side of Actual Fraud and Embezzlement Cases

Thursday, May 16th | 6:00 PM - 7:30 PM EDT  

For More Information and to Register                  


Red Flag Warning Signs:  Case Studies and Roundtable Discussion                           

Thursday, May 23rd | 6:00 PM - 7:30 PM EDT   

For More Information and to Register         


The final session on May 23rd will be an open discussion on materials covered throughout the series. 


Please contact Valerie Harrison with questions at or (212) 809-1850, ext. 218.
Community Development Webinars

Plan now to join the Federation for the following upcoming programs in our Community Development webinar offerings. These sessions are relevant to credit unions of ALL asset sizes. If you are a community development credit union or are actively serving the low- and moderate-income market, these are must attend sessions for your credit union. Reserve your space today!

Doing Well By Doing Good - Growth and Low Income Credit Unions
Tuesday, May 21, 2013 | 2:00 pm - 3:30 pm EDT
Effective Loan Management
Tuesday, May 28, 2013 | 3:00 - 4:15 pm EDT

For More Information and to Register


Be sure to check out all upcoming Federation events. View our Calendar of Events.

CDCU Job Center

Federation Job Openings



CDCU Job Openings 

  • There are currently no CDCU job openings listed on the Federation website.

Job openings are posted on our website at no cost to our members. To submit a job opening, please email the ad text to:


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About CDCU News Briefs

CDCU News Briefs is published on a regular basis, based on the volume of news about CDCUs and affiliated Community Development Partner credit unions. We welcome member submissions of news items from your local periodicals, publications and news outlets, but reserve the right to publish or not publish any article at our discretion.

To submit an article, please email and include the article and the web URL where the article can be found online. Questions or comments should also be directed to the email address listed above.


To submit information on an upcoming seminar or training opportunity, please email and include the web URL where more information can be found online.   


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