Financial Inclusion for Immigrant Consumers Roundtable
|
|
- Ilene Kennedy
- 6 years ago
- Views:
Transcription
1 Financial Inclusion for Immigrant Consumers Roundtable Assessing your Readiness 1/16/15 Miriam De Dios, CEO Coopera Pablo DeFilippi, VP Membership & Business Development, Federation
2 Coopera Our Mission: To partner with people, businesses and communities for new economic opportunity Our Founder: Warren Morrow sought to provide dignified financial services to Hispanics through credit unions We help your credit union grow by reaching and serving the Hispanic community We are owned by Affiliates Management Company, holding company of the Iowa Credit Union League We are a CUNA exclusive strategic alliance partner 2
3 The Federation: Our Mission: To help low- and moderate-income people and communities achieve financial independence through credit unions. Foster Innovation Develop new products and services to reach low and very low-income people Foster strategic partnerships to expand service delivery Identify, document and promote best practices Raise and channel investment Invest more than $30 million in Member CDCUs Strengthen CDCUs financial position to expand impact Capacity Building Technical assistance, webinars, practical tools, guides, Consulting services support CDCUs at all stages of development 3
4 What s Important? Understanding your opportunity Having an inclusive organizational culture Having buy-in at all levels of the organization Adapting to the needs of the market Personnel Products Processes Promotion/Marketing Financial inclusion 4
5 Conduct a Readiness Assessment Conduct an opportunity assessment of members and prospective members Measure your organizational culture Measure your operational readiness 5
6 Opportunity Assessment How many immigrant members are you serving today? What s the language preference of your immigrant membership? What products and services are your immigrant members using? How many immigrant members reside in your field of membership? What is the ethnicity, acculturation level and language preference of prospective members in your field of membership? 6
7 Membership Analysis 7 Resource: Coopera s Hispanic Membership Analysis
8 Market Scan 8 Resource: Coopera s Hispanic Opportunity Navigator
9 Organizational Culture Do you have an inclusive/welcoming culture? Have your board, management and staff bought in? Have you addressed common concerns at all levels? Coopera s Cultural Score 9 Resource: Coopera s Hispanic Opportunity Navigator
10 Operational Readiness Personnel bilingual capacity, outreach role Products financial education, accounts, transactional services, loans Processes account opening, lending Promotion/Marketing materials, communications, outreach, partnerships 10 Resource: Coopera s Hispanic Opportunity Navigator
11 Adapt & Repackage Products Savings (SAFE, interest-bearing accounts, special purpose) Prepaid reloadable cards Remittances Checking Citizenship, residency, DACA, DAPA, immigration expense loans Credit-builder loans ITIN loans Small dollar loans Credit cards 11
12 Adapt your Processes New membership experience Customer Identification Program (CIP) for account opening Accepting alternative forms of ID Lending programs and policies ITIN and small dollar loans Credit-builder loans 12
13 Customer Identification Program (CIP) At minimum the credit union must obtain the following information prior to opening or adding a signatory to an account: Name Date of birth (for individuals) Residential or business street address, APO or FPO or address of next of kin (individual) or principal place of business, local office or other physical location (corporation, partnership, etc.); and Taxpayer identification number (U.S. person) or passport number and country of issuance, alien identification card number, or other government issued document bearing a photo or similar safeguard (non-u.s. person) 13 Source: NCUA Letter on the Bank Secrecy Act (BSA)
14 Account Opening vs. Lending Account Opening Verification of member s identity (CIP) Interest-bearing vs. non-interest bearing accounts Lending Obtain proper documentation to meet lending guidelines and perform income verification Need taxpayer identification number such as an ITIN or SSN 14
15 Alternative Forms of ID for non-u.s. persons Residency card (green card) Employment authorization document Passports Matricula consular (Mexico) Consulate cards Cedulas Municipal IDs Voter registration cards 15
16 Next Steps Develop a Strategic Growth Plan Make Operational Adaptations Build Partnerships Outreach 16
17 SCALING UP EXPERIENCES FROM THE FIELD 17
18 Immigration Financing 28 CDCUs across the country have developed micro-loan programs to finance application fees for Citizenship and DACA General Product Terms: Small dollar loans <$ month terms Flexibility on underwriting criteria and rapid turnaround No or limited credit check Flexible income verification and documentation (DACA) Checks often made out to USCIS and other relevant agencies 18
19 CDCUs Serving Immigrants Examples of CDCUs engaged in Citizenship/DACA financing: - Latino Community CU (NC) leads with 1,600 DACA loans - Self Help FCU (CA) 500+ loans - Northside Community FCU (IL): 350 citizenship loans - District Government Employees FCU (DC): 200 citizenship/daca loans - New Economy Project with Brooklyn Cooperative and Lower East Side People s: 100 DACA loans - NWAF\GCIR pilot with Lower Valley CU and Ascentra newly launched (4 th Qtr 2014) 19
20 Lessons Learned: Most loan programs are still in early stages - volume of referrals generally below expectations. Tight integration between immigrant\legal services organizations and lenders essential. Online platforms are ideal may not yet be integrated into CU systems. Most successful pilot studied has 8% of total applicant pool seeking and obtaining loans. With technology and targeted training, possible 15%-20% take-up rate. Fee waivers play a role. 20
21 Lessons Learned: Products must be affordable. Pricing should be consistent with the rest of your product line up Products must be transparent: Critical to gain the trust of target market (immigrant population, historically abused by fringe financial services providers) and those who serve them (CBOs) Products and processes must be simple, easy to understand and use Products must be accessible and convenient: on-line banking; mobile banking; micro branches; community partners Products should provide a pathway to financial inclusion (i.e. credit builder loan) Attitudes matter: People want to be treated with respect and dignity. 21
22 No Magic Bullet DACA loan just an entry point Access to affordable credit helps members move along the credit continuum to reach critical financial goals. DACA Loan Credit Builder Personal Loans Auto Loans Mortgage Loans
23 End Goal: Make all credit union services available and accessible to immigrants Financial Inclusion = Economic Opportunity = Strong Communities
24 24 RESOURCES
25 Coopera Resources Hispanic Opportunity Navigator Assessment Hispanic Membership Analysis Hispanic Target Market Analysis Consulting & Resource Library Account Opening Best Practices Lending Best Practices Community Partner Toolkit Education & Training Accepting Alternative Forms of ID Developing a Credit-Builder Loan Financial Education Best Practices Readiness assessment Strategic Growth Plan Operational Adaptations Partnership Building 25 Contact Coopera at info@cooperaconsulting.com
26 Federation Resources Advocacy and regulatory support around ID requirements A team of national recognized consultants with practical experience serving the Hispanic market and immigrant populations Best practices and research data National and local partnerships Extensive network of field practitioners Product development and implementation assistance: ITIN lending Citizenship and DACA lending Financial inclusion 26 Contact us at info@cubreakthrough.com
27 Contact Us Coopera Miriam De Dios CEO Federation Pablo DeFilippi VP of Membership & Business Development x Coopera. Original information contained within this presentation is copyrighted and cannot be used without expressed written consent from Coopera.
Lending to ITIN and Immigrant Markets. Alejandra Seluja CU Breakthrough
Lending to ITIN and Immigrant Markets Alejandra Seluja CU Breakthrough Overview Why reach out to Latino and immigrant borrowers? What is an ITIN? What does an ITIN lending program look like? Auto and consumer
More informationLending Strategies 2.0. Carolinas Credit Union League 2015 Leadership Conference October 22, 2015
Lending Strategies 2.0 Carolinas Credit Union League 2015 Leadership Conference October 22, 2015 WHAT DOES THE FUTURE HOLD? CUES - Scenarios for Credit Unions through 2020 Two Uncertainties/Four Scenarios
More informationSection 1.24 Non-Permanent Resident Alien Requirements
Section 1.24 Non-Permanent Resident Alien Requirements In This Section This section contains the following topics. Overview... 2 General... 2 Related Bulletins... 2 Visa Classifications... 3 General...
More informationPOLICY: USA Patriot Act and Customer Identification Program (CIP) Policy. Purpose. Policy Goal. General Provisions. Reviewed by and Date:
Purpose The Board of Directors of NorthPark Community Credit Union (hereafter NPCCU) adopted this Customer Identification Program (CIP) policy, as required by Section 326 of the USA Patriot Act. This CIP
More informationSection 1.24 Non-Permanent Resident Alien Requirements
Section 1.24 Non-Permanent Resident Alien Requirements In This Section This section contains the following topics. Overview... 2 General... 2 Related Bulletins... 2 Visa Classifications... 3 General...
More informationToday everyone in Metro Denver can have a free or low-cost bank account.
PRODUCT MENU Today everyone in Metro Denver can have a free or low-cost bank account. We offer: Free or low-cost checking/saving accounts No overdraft fee accounts Free bill pay and mobile banking Alternative
More informationCDCU Mortgage Center, LLC
CDCU Mortgage Center, LLC Agenda 1. Who we are 2. Non-Conforming Secondary Market 3. Product Offerings (Portfolio and ITIN) 4. Underwriting Assistance 5. Servicing Options 6. Earning with the Mortgage
More informationStrengthening Your Capacity to Serve the Underserved
Strengthening Your Capacity to Serve the Underserved Blake Myers Consultant, National Federation of Community Development Credit Unions Teri Robinson CEO, Pacific NW Ironworkers FCU Agenda 1. The Opportunity:
More informationC E. Check Cashers. Direct Deposit. Identification to Open a Bank Account
M O R F H S CA S K C E CH Check Cashers Direct Deposit Identification to Open a Bank Account INTRODUCTION United Way Capital Area (UWCA) is a innovative, impact-driven organization that addresses critical
More informationFREQUENTLY ASKED QUESTIONS ABOUT OPENING DEPOSIT ACCOUNTS FOR FOREIGN CITIZENS 1. September 1, 2004
FREQUENTLY ASKED QUESTIONS ABOUT OPENING DEPOSIT ACCOUNTS FOR FOREIGN CITIZENS 1 September 1, 2004 Can a foreign citizen open a U.S. bank account? There is no law that requires a customer to be a U.S.
More informationNational Case Statement
Discussion Topics Session Description Learn about the advantages your Credit Union Members can receive by obtaining low-income designation and CDFI Certification and how this translates to Member value.
More informationThis document contains information that CSi has presented this spring at various User Conferences sponsored by CSi s Business Partners.
USA Patriot Act Section 326 Customer Identification Summary of Final Rule May 1, 2003 This document contains information that CSi has presented this spring at various User Conferences sponsored by CSi
More informationBSA/AML: CIP Basics. Version 2. ABA course content does not provide, nor is it intended to substitute for, professional legal advice.
Version 2 ABA course content does not provide, nor is it intended to substitute for, professional legal advice. Menu Introduction Customers and Accounts Under CIP CIP: Two-Step Process Recordkeeping Requirements
More informationCredit Union Access to Capital
Credit Union Access to Capital & How the Federation Can Help! 2012 AACUC Annual Conference Charleston, SC Terri J. Fowlkes Director, Community Development Investments National Federation of Community Development
More informationA Future for Community Credit Unions
A Future for Community Credit Unions Martin D. Eakes September 24, 2015 National Federation of CDCUs, Phoenix, Arizona Ownership and Economic Opportunity for All www.self-help.org Goals of this presentation
More informationBUILDING STRONGER COMMUNITIES TOGETHER: IMMIGRANTS AND ASSET BUILDING FLORIDA PHILANTHROPY NETWORK SUMMIT FEBRUARY 2017
BUILDING STRONGER COMMUNITIES TOGETHER: IMMIGRANTS AND ASSET BUILDING 1 FLORIDA PHILANTHROPY NETWORK SUMMIT FEBRUARY 2017 GCIR PROVIDES A FORUM FOR FUNDERS TO: Learn about current issues through in-depth
More informationBank Secrecy Act for Operations Staff
Bank Secrecy Act for Operations Staff Presented by Jan Vogel, Center for Professional Development WilliamsTown Communications, Contributing Writer #TR1118 l Introduction Welcome to CUNA s Bank Secrecy
More informationSmall Loan Credit Union Lending in El Paso, TX
Small Loan Credit Union Lending in El Paso, TX 2016 RAISE Texas Summit Building Financial Success for Texans: In Schools, the Workplace and Our Communities May 11 & 12, 2016 Federal Reserve Bank of Dallas
More informationCommunity Development Financial Institutions (CDFIs)
Community Development Financial Institutions (CDFIs) o Private financial institutions focused on serving low income communities o Combine financial & development services o Raise capital with interest
More informationSubpart I Anti-Money Laundering Programs
Monetary Offices, Treasury 103.121 Subpart I Anti-Money Laundering Programs ANTI-MONEY LAUNDERING PROGRAMS 103.120 Anti-money laundering program requirements for financial institutions regulated by a Federal
More informationABOUT THE BEYOND FINANCIAL ACCESS REPORT ACKNOWLEDGMENTS
ABOUT THE BEYOND FINANCIAL ACCESS REPORT This research was produced by the National Federation of Community Development Credit Unions. The research was led by Kirsten Moy, Senior Fellow, Financial Security
More informationDANE COUNTY CREDIT UNION Project Differentiation 2015 Update
DANE COUNTY CREDIT UNION Project Differentiation 2015 Update Statement of Commitment to Members: As a member-owned, not-for-profit financial cooperative, Dane County Credit Union is committed to our members.
More informationTHE CREDIT UNION EXTENSION PROGRAM Financial Counseling Integrated Into CDCUs JUSTINE ZINKIN, CEO MAY 14, 2014
THE CREDIT UNION EXTENSION PROGRAM Financial Counseling Integrated Into CDCUs JUSTINE ZINKIN, CEO MAY 14, 2014 A Nonprofit Financial Services Provider Mission: Empower low-income individuals to become
More informationImplementing New CDD Rules for BSA Part I Legal Entities 2016
Implementing New CDD Rules for BSA Part I Legal Entities 2016 The material used in this text has been drawn from sources believed to be reliable. Every effort has been made to assure the accuracy of the
More informationBridging the Wealth Divide: Expanding Homeownership in Communities of Color and Rural America. Sara Morgan Fahe / #OFNCONF #CDFIsINVEST
Bridging the Wealth Divide: Expanding Homeownership in Communities of Color and Rural America Sara Morgan Fahe / 09-28-2017 Bridging the Wealth Divide: Expanding Homeownership in Communities of Color and
More informationCommunity Development Investment Program (CDIP) for CDCUs SECONDARY CAPITAL I APPLICATION
Community Development Investment Program (CDIP) for CDCUs SECONDARY CAPITAL I APPLICATION Date: Credit Union: Charter Number: Contact Person: Title : Telephone: ( ) Fax: ( ) E-mail Mailing Address: Secondary
More information10/20/2016. Small Dollar Innovations in Credit Building. October 26, Good Credit : Passport to the New Economy #OFNCONF #RETHINK
Small Dollar Innovations in Credit Building October 26, 2016 Good Credit : Passport to the New Economy 1 Why Credit Building? Increases Access, Affordability, and Options for Financial products Rental
More informationLendIt USA Conference April 12, 2016 San Francisco, CA
LendIt USA Conference April 12, 2016 San Francisco, CA Prepared Remarks of Jeffrey Langer, Assistant Director for Installment Lending and Collections Markets, Consumer Financial Protection Bureau Marketplace
More informationVALLEY CONTRACT SERVICING
VALLEY CONTRACT SERVICING Valley Contract Servicing provides payment servicing on seller financed contracts and agreements between private parties. THE SERVICE WE PROVIDE When the Valley Contract Servicing
More informationOperational Impacts of the Economic Growth, Regulatory Relief, & Consumer Protection Act (S.2155)
Operational Impacts of the Economic Growth, Regulatory Relief, & Consumer Protection Act (S.2155) NAFCU s Regulatory Compliance Seminar Presented by Brandy Bruyere, VP of Regulatory Compliance, NAFCU 1
More informationCreating a Sustainable Foundation for Financial Inclusion
Creating a Sustainable Foundation for Financial Inclusion Scott Butterfield, Your Credit Union Partner Sarah Marshall, North Side Community Credit Union Jamey Gill, Mendo Lake Credit Union Purpose of this
More informationChanging banks is easier than you think.
Changing banks is easier than you think. First State Bank wants to help make the process organized and help you accomplish your goal. By following the four steps below you can successfully SWITCH NOW :
More informationBenefits of Credit Reporting
Benefits of Credit Reporting February 16 th 2pm EST 2016 Credit Builders Alliance, Inc. Some rights reserved. CREDIT BUILDERS ALLIANCE and the accompanying Logo are trademarks of Credit Builders Alliance,
More informationMember Identification Program
Member Identification Program Presented by Sarah White, Contributing Writer Tracy Blaske, Director, Compliance Education, CUNA #TR1139 Introduction Hello, and welcome to CUNA s Member Identification Program
More informationRE: Comments on Financial Access Activities, 76 FR 56499
November 14, 2011 Louisa Quittman Office of Financial Education and Financial Access U.S. Department of the Treasury 1500 Pennsylvania Ave., N.W. Washington, D.C. 20220 ofe@treasury.gov RE: Comments on
More informationCUNA PROFESSIONAL DEVELOPMENT ONLINE
CUNA PROFESSIONAL DEVELOPMENT ONLINE CONTENT LIST cuna.org/cpdonline Accounting, Budgeting, & Finance Accounting Basics Asset-Liability Management for Executives Financial Management Made Easy I: Financial
More informationCDFI Certification. A Pathway to Growth and Impact
CDFI Certification A Pathway to Growth and Impact CDFI Fund Basics Established by Congress 1994 Federation and CDCUs instrumental in founding CDFIs include regulated and unregulated institutions that meet
More informationLife-Changing Loans. Andrew Posner, Founder & CEO, Capital Good Fund A Presentation for Socially Minded Investors
Life-Changing Loans Andrew Posner, Founder & CEO, Capital Good Fund A Presentation for Socially Minded Investors Who We Are Founded in 2009, we are a nonprofit, U.S. Treasury-certified Community Development
More informationCredit Union Business Account Agreement. Multistate Completion Guide for the BMAC Form Series
Credit Union Business Account Agreement Multistate Completion Guide for the BMAC Form Series Table of Contents INTRODUCTION... 1 Warranties and Limitations... 3 Warranties and Limitations for this Guide...
More informationCDFI Consumer Marketing Library Toolkit Webinar
CDFI Consumer Marketing Library Toolkit Webinar 03.21.18 OFN s Consumer Finance Working Group Center for Financial Services Innovation (CFSI) Credit Builders Alliance (CBA) Community Development Bankers
More informationAdvocacy In The Federal Policy Arena:
Advocacy In The Federal Policy Arena: Small Business Resources June 13, 2017 Federal Spending in 2016 Net Interest 6% Discretionary 31% $1.5 trillion Defense Non-Defense Non-Defense 16% Defense 15% Total
More informationCUSTOMER DUE DILIGENC
CUSTOMER DUE DILIGENC of the Bank Secrecy Act Coverage: Federally insured credit unions Agency/Citation: FinCEN 31 CFR Parts 1010, 1020, 1023, 1024 and 1026 Effective Date: May 11, 2018 EXECUTIVE SUMMARY
More informationWhat is a Credit Union and why do I need to be
What is a Credit Union and why do I need to be Credit Unions Other Financial Institutions Companies Organizations Digital Federal Credit Union 220 Donald Lynch Blvd PO Box 9130 Marlborough, MA 01752-9130
More informationNCUL Compliance Conference
NCUL Compliance Conference Jeremy Smith Compliance Manager Erin O Hern Director of League Compliance Services Meet the Presenter As Compliance Manager, Jeremy Smith oversees compliance services for PolicyWorks'
More informationKENDALL, PREBOLA AND JONES Certified Public Accountants PO BOX 259 BEDFORD, PENNSYLVANIA (814) FAX (814)
WASHINGTON, DC -------------------------------------------- COMPARATIVE FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 KENDALL, PREBOLA AND JONES Certified
More informationHow to Originate and Deliver HomeReady Mortgages
How to Originate and Deliver HomeReady Mortgages 2016 Fannie Mae. Trademarks of Fannie Mae. An Important Note about the Seminar Content While every effort has been made to ensure the reliability of the
More informationCUSTOMER IDENTIFICATION PROGRAM PROCEDURES (CIP) UNDER THE USA PATRIOT ACT ACCOUNT OPENING PROCEDURES
CUSTOMER IDENTIFICATION PROGRAM PROCEDURES (CIP) UNDER THE USA PATRIOT ACT ACCOUNT OPENING PROCEDURES I. Determine Membership Eligibility Immediate family relative Employee group Designated Community Charter
More informationEconomic Inclusion Programs and Services
Economic Inclusion Programs and Services NPHS Economic Inclusion programs work together to assist underserved consumers to access, obtain and build assets that create pathways for achieving family self-sufficiency
More informationASSOCIATED BANK, N.A. COMMUNITY COMMITMENT PLAN FOR
ASSOCIATED BANK, N.A. COMMUNITY COMMITMENT PLAN FOR 2018-2020 Our Purpose Associated Bank, N.A. (Associated) recognizes our success is dependent upon strong relationships with the communities where we
More informationKENDALL, PREBOLA AND JONES Certified Public Accountants PO BOX 259 BEDFORD, PENNSYLVANIA (814) FAX (814)
WASHINGTON, DC -------------------------------------------- AUDIT REPORT FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015 KENDALL, PREBOLA AND JONES Certified Public Accountants PO BOX 259 BEDFORD, PENNSYLVANIA
More informationNATP s Commentary Regarding: The IRS s Individual Taxpayer Identification Number (ITIN) application procedures. Submitted to:
NATP s Commentary Regarding: The IRS s Individual Taxpayer Identification Number (ITIN) application procedures Submitted to: Nina Olson National Taxpayer Advocate Internal Revenue Service Attn: TAS: AAG
More informationPickerington Public Library Cardholder Policy
Pickerington Public Library Cardholder Policy Board Policy: Date Reviewed: 12/14/17 Date Approved: 12/14/17 Effective Date: 12/14/17 Replacing Policy Effective: 08/11/16 Any person or organization that
More informationBSA/AML & OFAC Volunteer Compliance Training. Agenda
Ideas + Solutions = Success BSA/AML & OFAC Volunteer Compliance Training Ideas + Solutions = Success Presented by Dorie Fitchett HCUL Regulatory Officer May 17, 2018 Agenda 1. Bank Secrecy Act 2. Office
More informationFuerza Cooperativa. An Innovative Revenue Generation Case Study
Maria Elena Betancur, a membership organizer with Make the Road New York, shows a credit union member card to a newly enrolled member. Fuerza Cooperativa An Innovative Revenue Generation Case Study Julie
More informationMeeting the Financial Service Needs Of Mexican Immigrants. A Sur vey of Texas Financial Institutions
Meeting the Financial Service Needs Of Mexican Immigrants A Sur vey of Texas Financial Institutions A collaboration of Texas Appleseed, Community Resource Group and the Appleseed Foundation Project work
More information*NEWACCT* QUALIFIED PLAN ACCOUNT APPLICATION Institutional Advisor Services. General Instructions
General Instructions By completing and signing this application the account owner is establishing an account subject to the terms and conditions made available by your advisor and at trustamerica.com/tca
More informationBank On It. Participant Guide. FDIC Financial Education Curriculum
Bank On It Participant Guide Table of Contents Banking Basics...1 Opening and Maintaining a Bank Account...2 Choosing a Bank Checklist...3 Practice Exercise: Making Deposits and Withdrawals...4 Choosing
More informationIMPROVING ACCESS TO THE U.S. BANKING SYSTEM AMONG RECENT LATIN AMERICAN IMMIGRANTS
IMPROVING ACCESS TO THE U.S. BANKING SYSTEM AMONG RECENT LATIN AMERICAN IMMIGRANTS Sheila C. Bair Center for Public Policy and Administration University of Massachusetts Amherst The Multilateral Investment
More informationFinancial Wellness and Economic Inclusion
Financial Wellness and Economic Inclusion NPHS Financial Wellness and Economic Inclusion programs work together to assist underserved consumers to access, obtain and build assets that create pathways for
More informationCOMPLIANCE BULLETIN. Customer Identification & Verification
COMPLIANCE BULLETIN Customer Identification & Verification 2017 Customer Identification & Verification Proper identification of customers has two major benefits: appropriate customer suitability analysis,
More informationINDIVIDUAL CUSTOMER UPDATE FORM
INDIVIDUAL CUSTOMER UPDATE FORM INDIVIDUAL CUSTOMER UPDATE FORM Dear Customer, Kindly complete this form in CAPS to update your information. All Sections Marked '' * '' are only MANDATORY where the information
More informationThe role of Korea Post in Financial Inclusion. Presented by Chinyong Chong CEO/Executive Vice President Savings Bureau, Korea Post
The role of Korea Post in Financial Inclusion Presented by Chinyong Chong CEO/Executive Vice President Savings Bureau, Korea Post CONTENTS Ⅰ. About Korea Post Ⅱ. Introduction of Postal Finance Ⅲ. The Role
More informationEmployment of H-2A Workers Employer Federal Withholding Requirements/ H-2A Worker Federal Income Tax Filing Requirements
Employment of H-2A Workers Employer Federal Withholding Requirements/ H-2A Worker Federal Income Tax Filing Requirements The guidance provided in this document pertains to federal tax implications only.
More informationLOAN APPLICATION FIRST MORTGAGE LENDING + INVESTMENT ACN ABN ARSN AFS Licence No
FIRST MORTGAGE LENDING + INVESTMENT LOAN APPLICATION RMBL Investments Limited PO BOX 93 Dandenong VIC 3175 Level 5, 225 Lonsdale Street Dandenong VIC 3175 DX 17520 Dandenong rmbl.com.au ACN 004 493 789
More informationMulti-Purpose/Multi-Party Consumer Account Agreement. Multistate Completion Guide for the MPMP-C Form Series
Multi-Purpose/Multi-Party Consumer Account Agreement Multistate Completion Guide for the MPMP-C Form Series Table of Contents INTRODUCTION... 1 Warranties and Limitations... 3 Warranties and Limitations
More informationServing the Underserved: Building Alternative Financial Services in Low-Income Communities
Serving the Underserved: Building Alternative Financial Services in Low-Income Communities Today s Presentations About the Federation Overview of Building Blocks LID & CDFI Secondary Capital Market Opportunity
More informationCDFI Credit Unions A Business Case for Community Development Finance. CDFI Institute February 28, 2017
CDFI Credit Unions A Business Case for Community Development Finance CDFI Institute February 28, 2017 What it means to be a CDFI? Community Development Key Products & Services Inclusive transaction services
More informationAUTO-OWNERS ASSOCIATES CREDIT UNION POLICY AND PROCEDURES MANUAL
Reviewed/Approved by Board of Directors: September 20, 2011 Page 1 of 16 BSA/AML Compliance Auto-Owners Associates Credit Union s (AOACU) Bank Secrecy Act (BSA) Program will include internal policies,
More information*NEWACCT* BUSINESS ACCOUNT APPLICATION Institutional Advisor Services. General Instructions
General Instructions By completing and signing this application the account owner is establishing an account subject to the terms and conditions made available by your advisor and at trustamerica.com/tca
More informationPeer-to-peer lending Industry overview
Peer-to-peer lending Industry overview February 017 Andrew Jones Head of Commercial Development RateSetter Australia Current customer experience Complex organisations leading to poor customer experiences?
More informationDeposit Audits Procedures Workpaper
Deposit Audits Procedures I. DEPOSIT INSTRUMENTS Specific Audit Procedures A. Savings and Money Market Accounts 1. Determine if all savings and money market account types are monitored for transaction
More information2016 ANNUAL REPORT IDAHO CENTRAL CREDIT UNION
2016 ANNUAL REPORT IDAHO CENTRAL CREDIT UNION Board Chair and CEO Message Idaho Central Credit Union stayed its course and celebrated another banner year in 2016. We are committed to our mission of Helping
More informationEfforts to Improve Homeownership Opportunities for Hispanics
Efforts to Improve Homeownership Opportunities for Hispanics Case Studies of Three Market Areas U.S. Department of Housing and Urban Development Office of Policy Development and Research Efforts to Improve
More informationBank Secrecy Act & Anti-Money Laundering for Directors. Mike Lee Director of Regulatory Advocacy
Bank Secrecy Act & Anti-Money Laundering for Directors Mike Lee Director of Regulatory Advocacy michael.lee@lscu.coop Legal Disclaimer: Information provided in this presentation, including all materials,
More informationAlice Coday Jennifer Meissner
Alice Coday Jennifer Meissner Financial Empowerment A collaborative of community partners who share a common vision. Vision: Help low- & moderate- income people acquire & protect financial assets. From
More informationOpening Deposit Accounts For Nonresident Aliens 2016
Opening Deposit Accounts For Nonresident Aliens 2016 The material used in this text has been drawn from sources believed to be reliable. Every effort has been made to assure the accuracy of the material;
More informationIntroduction. The National Federation of Community Development Credit Unions 39 Broadway, New York, NY
Introduction The National Federation of Community Development Credit Unions helps build bridges for credit unions to underserved markets. Better Directions provides the bridge that can change the economic
More informationS Analysis of Regulatory Relief for Credit Union
S. 2155 Analysis of Regulatory Relief for Credit Union June 2018 SECTION Minimum Standards for Residential Mortgage Loans (Section 101) Adds a new safe harbor category of Qualified Mortgages (QMs) to Section
More informationLow Income Designation: Leveraging Regulations to Amplify your Impact in Low Income Markets
Low Income Designation: Leveraging Regulations to Amplify your Impact in Low Income Markets System Challenges Supplemental Capital: significant pressure to comply with net worth minimum requirements and/or
More informationEmerging Payment Alternatives for the Unbanked and Underbanked. Dave Beck, SVP and Regional Executive December 8, 2014
Emerging Payment Alternatives for the Unbanked and Underbanked Dave Beck, SVP and Regional Executive December 8, 2014 Agenda Payments Landscape and the Fed s Role Who are the unbanked and underbanked and
More informationCommunity Development with a Purpose. CDFI Certification: A Building Block of Community Finance
Community Development with a Purpose CDFI Certification: A Building Block of Community Finance CDFI Fund CDFI Fund established by Congress in 1994 through the efforts of Federation and others in community
More informationBENEFICIAL OWNERSHIP REFERENCE GUIDE
Sterling COMPLIANCE BENEFICIAL OWNERSHIP REFERENCE GUIDE FACILITATE THOUGHT ENGAGE DIALOGUE ENCOURAGE SMART RISK CULTIVATE A NETWORK BUILD KNOWLEDGE IN THIS GUIDE The documents within this package were
More informationCommunity. An Overview of the CDFI Industry. by Brandy Curtis
Community Developments Emerging Issues in Community Development and Consumer Affairs Federal Reserve Bank of Boston 006 Issue An Overview of the CDFI Industry Inside Updates 1 There are an estimated 1,000
More informationConsumer Financial Services Webinar Series. Webinar #4: Building a Small-Dollar Loan Product September 15, :00 2:00 PM ET
Consumer Financial Services Webinar Series Webinar #4: Building a Small-Dollar Loan Product September 15, 2015 1:00 2:00 PM ET Agenda NEXT Awards and Consumer Financial Services Webinar Series Review CFSI
More informationCooperative Federal Annual Report. Message from the Board of Directors
Cooperative Federal Message from the Board of Directors Without reservation, I am excited to say that Cooperative Federal is in a phase punctuated with creativity and opportunity, both for our organization
More informationNew Products in Consumer Financial Services. The Underserved Population
New Products in Consumer Financial Services Joshua Sledge, Center for Financial Services Innovation October 17th, 2013 Approximately 34 million U.S. households 68 million people are financially underserved
More informationOSCPA Tulsa Chapter. Anita Douglas Senior Stakeholder Liaison. May 24, 2016
OSCPA Tulsa Chapter Anita Douglas Senior Stakeholder Liaison May 24, 2016 1 Miscellaneous Topics IRS Seeks Nominations for the Internal Revenue Service Advisory Council Application Due June 16, 2017 2
More informationREQUIRES INVESTOR APPROVAL
PORTFOLIO 5/1 ARM BANK STATEMENT ONLY & FOREIGN NATIONAL PROGRAM LTV Purchase & R/T Refi Cash-out Refinance O/O & SFR N/O/O 75% 65% N/O/O 2 to 4 units 70% 65% Foreign National (N/O/O) Based on subject
More informationU.S. Banking System Overview
Date Here U.S. Banking System Overview Banking is regulated by federal and state governments Privacy Disclosure Fraud protection Protection against dishonest lending Lending to low-income populations U.S.
More informationCDFI CREDIT UNIONS BUILD INCLUSIVE ECONOMIES
I M P A C T O F C D F I C R E D I T U N I O N S O N C O N S U M E R S A N D C O M M U N I T I E S CDFI CREDIT UNIONS BUILD INCLUSIVE ECONOMIES N A T I O N A L F E D E R A T I O N O F C O M M U N I T Y
More informationWELCOME TO Dear Notre Dame Student,
WELCOME TO Dear Notre Dame Student, Congratulations on your decision to attend one of the finest universities in the world. 1st Source Bank understands how hectic this time can be for incoming international
More information7. Only members of the library in good standing will be allowed to borrow library materials.
Policy: Operational Circulation Department: Library Effective Date: March 2014 Revision Date: December 2017 Next Year of Review: 2019 The Bruce County Public Library makes materials widely available to
More informationArlington County Moderate Income Purchase Assistance Program (MIPAP)
Arlington County Moderate Income Purchase Assistance Program (MIPAP) Dear MIPAP Applicant: Thank you for your interest in the Moderate Income Purchase Assistance Program (MIPAP) administered by the Housing
More informationFinCEN s Customer Due Diligence Requirements: Final Rule. Washington Bankers Association October 6, 2017
FinCEN s Customer Due Diligence Requirements: Final Rule Washington Bankers Association October 6, 2017 Bankers Forum Call Objectives: Discuss four key elements of FinCEN s Customer Due Diligence Final
More informationASSEMBLY, No STATE OF NEW JERSEY. 218th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 2018 SESSION
ASSEMBLY, No. STATE OF NEW JERSEY th LEGISLATURE PRE-FILED FOR INTRODUCTION IN THE 0 SESSION Sponsored by: Assemblywoman ANNETTE QUIJANO District 0 (Union) Assemblyman REED GUSCIORA District (Hunterdon
More informationFrequently Asked Questions
Frequently Asked Questions Contents How does short-term small dollar lending help my customers and communities?... 3 What is a digital lending platform?... 3 What is Q-Cash and Q-Cash Plus? Do we offer
More informationCardinal Value Equity Funds New Account Application For Assistance Call: CCM-SEIC ( ) Trust* TRUSTEE S NAME NAME OF CORPORATION
All applicants must complete sections 1, 2, 3, 5 and 8. For optional services complete 4, 6 and 7. If you are a Broker-Dealer, please also complete section 9. Cardinal Value Equity Funds New Account Application
More information2016 Annual Report. Helping people achieve their financial dreams.
2016 Annual Report Helping people achieve their financial dreams. Helping our Neighbors Like all credit unions, we were created with a philosophy of People Helping People. This means we have the pleasure
More informationSWITCH MY STUFF SWITCHING YOUR ACCOUNT IS EASY
SWITCH MY STUFF Make the switch to Element Federal Credit Union We make it easy. SWITCHING YOUR ACCOUNT IS EASY If you re happy with your bank, that s great. If you re not, and the fees are killing you,
More information2018 ANNUAL REPORT. Insured by NCUA
2018 ANNUAL REPORT Insured by NCUA It is refreshing to know that the simplicity of people helping people has been the heart of Credit Union ONE remaining relevant and delivering value to our members through
More information