1. CDFI Credit Unions: So What
CDFI Credit Unions: So What? CUNA 2018 GAC CDFI Roundtable Washington, DC February 26th, 2018
Mike Schenk, VP Research & Policy Analysis
Credit Union National Association

2. CDFI Credit Unions 303 Credit Unions
$98.2 billion in assets - $140,000 to $8.6 billion!
9.6 million memberships and 5% membership growth (+465,000)!
12% loan growth!

3. CDFI Credit Unions Help young adults build credit
Provide financial coaching
Help people out of high cost debt
Turn job opportunities into job realities
Revitalize neighborhoods
Promote higher education
Increase housing stability
Build financial health
Empower successful savers
Resettle refugee families
Support job training
Clean up poor credit reporting
Promote financial wellness
Support African-American homeownership
Safeguard families

4. Over the Past Year CDFI Credit Unions…
Increased small business loans by $1.5 billion creating 16,500 jobs
New autos up $1.6 billion; used autos up $2.2 billion
Originated $2.8 billion in first mortgages – helping 17,000
Originated $445 million in second/HELs to improve housing and build communities – helping 10,817
Increased consumer savings balances by $5.3 billion
Etc…

5. Economic Impact (IMPLAN)
Direct Effects
Indirect Effects
Induced Effects
Total Impact

6. Economic Impact: Components
Jobs, Earnings, Operating Expenses
Purchase of Intermediate Goods & Services
Household Spending
Total Impact

7. Economic Impact: Jobs
26,519 jobs
24,397 jobs
31,256 jobs
82,171 jobs

8. Economic Impact: Output
$8.81bil
$4.21bil
$5.1bil
$18.1bil

9. CDFI Economic Impact in Context
82,200 jobs.
$18.1 billion in economic output.
Greater than GDP of 87 countries!
Wilcox (SBA) study shows CUs make loans others won’t