DOVER, Del. (11/15/11)--The Delaware Credit Union League and six credit unions attended a meeting at Delaware Gov. Jack Markell's office in Dover, Oct. 31, to find ways for the state and credit unions to collaborate in creating financial products and services for consumers.
Attending a meeting at Delaware Gov. Jack Markell's office in Dover, Oct. 31, to collaborate in creating financial products and services for consumers, were, from left: Dion Williams, Del-One FCU, Dover; Henry Smith and Mary Dupont, Division of Health and Social Services; Patrick Mahaney, Delaware Credit Union League; Markell; Sharon Schaeffer, Delaware First FCU, Wilmington; Meredith Jeffries, New Castle (Del.) County Delaware Employees FCU; David Clendaniel, Dover FCU; Maurice Dawkins, American Spirit FCU, Newark; and Joel Romaine, Community Powered FCU, Newark. (Photo provided by the Delaware Credit Union League)
Mary Dupont, Delaware director of financial empowerment, arranged the meeting. Henry Smith, deputy director of the Delaware Department of Health and Social Services, also attended, said the league (Together
Markell said he is a fan of financial empowerment programs. He encouraged the state to forge a relationship with credit unions in this area.
Delaware credit unions urged state agencies to include credit unions as a viable partner in empowerment programs.
It was pointed out that the Limited Investment for Financial Traction (LIFT) program currently only applies to banks.
The LIFT initiative, championed by Markell, is a program that uses $5 million from the state's Strategic Fund to subsidize the interests on small-business loans.
Credit union activists who attended the meeting were:
- Patrick Mahaney and Alice Smith--Delaware league;
- Maurice Dawkins--American Spirit FCU, Newark;
- Joel Romaine--Community Powered FCU, Newark;
- Dion Williams-- Del-One FCU, Dover;
- Sharon Schaeffer--Delaware First FCU, Wilmington;
- David Clendaniel--Dover FCU; and
- Meredith Jeffries--New Castle (Del.) County Delaware Employees FCU.
Attendees shared information on consumer friendly products to help those who struggle financially.