Non-Profit Community-Building Award
In its 29 years, North Side Community Federal Credit Union has focused on a poorly served market in the areas of Lakeview, Uptown, Edgewater and Rogers Park: low- and moderate-income individuals who are unable to access mainstream financial services institutions and whose only other means of “banking” might be at an expensive currency exchange or “payday lender.” North Side, this year’s winner of the Non-Profit Community-Building Award, has enabled many to access at least part of the American dream.
Over the past four years alone, under the leadership of manager Ed Jacob, North Side’s assets have grown from $4 million to over $8.5 million. The credit union has provided over $22 million in affordable credit to those seeking loans, mortgages, or start-up funds for business, as well as normal banking products such as credit cards, and savings and checking accounts. Notably, North Side has created several groundbreaking products, such as the Refugee Micro Loan for immigrant businesses, and its “Payday Alternative Loan,” to meet the specific needs of its clientele.
Helping people survive tough economic times with dignity and hope: North Side Federal Credit Union is a model of community building and the very deserving winner of this year’s Community Building Award.