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Credit Union Days at the General Assembly | 2015 Survey

PLEASE help us provide lawmakers a better picture of the good work you do on behalf of your members! This year for our Credit Union Day events at the General Assembly, we plan to produce a fact sheet for each region that details key areas of member service.

For the sake of consistency, we would appreciate you providing Calendar Year 2014 information for each of these questions (January-September 2014 data, if available.)

This is information that our lawmakers say they want to see, so your help is appreciated and will make a difference in our advocacy work!

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* 1. Name of Your Credit Union

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* 2. Please provide us information on the following loan type for your credit union: Micro-Loans/Payday Alternative Loans ($3,000 or less loan in which the loan recipient received all proceeds at loan closing) (Please exclude credit card totals)

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* 3. Please tell us the number of small loans ($3,000 or less) your credit union made January-September 2014 in each of these purpose categories. If the loan proceeds will be used for multiple purposes, please add it to the total for each applicable loan purpose.

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* 4. Please tell us what you can about the income of your borrowers. For ALL loans made January-September 2014, how many of your borrowers fell within the listed income ranges?

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* 5. Please provide us information about the "credit scores" of ALL borrowers for which you closed loans during January-September 2014. If loans were co-signed, please list all parties in the appropriate category, if possible.

Credit unions use various scoring models, so we've attempted to simplify categories. Please provide the number of borrowers for each category.

A Paper (Excellent Credit) (Comparable to a FICO score of 720 and above)
B Paper (Good Credit) (Comparable to a FICO score of 660-720)
C Paper (Average Credit) (Comparable to a FICO score of 620-660)
D Paper (Poor Credit) (Comparable to a FICO score of 580-620)
F Paper (Very Poor Credit) (Comparable to a FICO score below 579)

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* 6. Number of individuals who benefited from the Financial Education/Personal Finance programs offered by your credit union?

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* 7. Please share as many as three programs at your credit union that truly exemplify service to your community and/or cooperation with local community organizations/nonprofits. A short summary of your program and photos would be appreciated!

As examples, here are programs offered by Freedom First Credit Union...

(1) Bank-On Roanoke—we partner with the City of Roanoke, United Way of the Roanoke Valley, and SunTrust Bank to give unbanked and underbanked populations access to mainstream financial services as
an alternative to predatory lenders.

(2) Total Action for Progress—we provide financial education and IDA program accounts for participants in TAP’s Fathers First, Head Start, Transitional Living, and VA Cares programs.

(3) Federal Home Loan Bank-Atlanta—we partner with the City of Roanoke’s Code Enforcement Department, Blue Ridge Independent Living Center, Rebuilding Together Roanoke, cafe2 and Habitat for Humanity in the Roanoke Valley on weatherization and accessibility projects for homeowners.

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* 8. Please provide us information about your community service work and charitable giving for January-September 2014...

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* 9. Please tell us the Metropolitan Statistical Area in which the majority of these loan types were made by your credit union. (Choose only one.)

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