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UN FCU first to sign up for CDIP
LONG ISLAND CITY, N.Y. (2/22/08)--United Nations FCU (UNFCU) is the first credit union in the U.S. to participate in the Community Development Investment Program (CDIP) of the National Federation of Community Development Credit Unions, the federation said.
United Nations FCU (UNFCU) recently signed on to the National Federation of Community Development Credit Unions’ Community Development Investment Program. From left are: front row, Clifford Rosenthal, federation president/CEO; Michael J. Connery Jr., UNFCU president/CEO; Alice Greenwald, program director; and Pablo DeFilippi, federation associate director of membership development. In the back row, from left are UNFCU employees Christopher Sullivan, chief investment officer ; John Lewis, senior vice president of corporate affairs and general counsel; and William Predmore, executive vice president. (Photo provided by the National Federation of Community Development Credit Unions)
“Too few New Yorkers see a credit union in their daily lives,” said Clifford Rosenthal, federation president/CEO. “UNFCU is a visible symbol for the credit union movement in this city.” The $2.5 billion asset UNFCU is participating in the program to help community development credit unions (CDCUs) upgrade their operations and expand their services. “UNFCU wishes to support the federation in achieving its stated mission and to provide general support to the credit union community,” said UNFCU President/CEO Michael J. Connery Jr. The CDIP celebrated its 25th anniversary by launching a $25 million capital campaign to bring its investment portfolio in CDCUs. The program was launched last July and has raised $10 million. The federation has investments in 121 CDCUs and hopes UNFCU’s investment will encourage others to participate, said Alice Greenwald, program director.
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