ACCESO,

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ACCESO, A Collaborative Model for serving the
Latino Market Carla Decker, DGEFCU June
2006 Federations Latino Conference
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Presentation Overview

• Context for our Collaborative Model
• Partnership Structure Governance
• ACCESO The Shared Branch
• - Products Services
• - Community Outreach
• - Operating Goals Initial Performance

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Brief History

• DGEFCU was chartered to serve District Government
  employees. But it also served the broader DC
  community via ATM machines located within various
  Police stations in the city.
• Alianza FCU was chartered in the 1990s to serve
  Latino immigrants in Ward One. It failed and was
  merged into DGEFCU.
• DGEFCU operated the Alianza Branch but closed it
  after a failed partnership with CBO.
• In the early 2000s, DGEFCU renews commitment to
  serve acquired FOM / Remittances gain the
  interest of international organizations, volume
  and economic impact in LA begin to be tracked /
  Lowering the cost of remittances becomes a
  concern for the governments of the Americas, the
  IDB, and OAS.

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Demographics of the FOM

• Over 73,000 residents approx 30,000 immigrant
  Latinos high linguistic isolation.
• Median HH income 36,902 with 22 of population
  living in poverty.
• 72 of HHs rent.

Ward One, WDC
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Market Demands vs. DGEFCU Offerings

• Convenience local presence, extended and
  weekend hours, friendly ? service in Spanish,
  menu of transactional products

• Branches inside Municipal buildings
• Branch hours Mon Fri 830 a.m. 330 p.m.
• No Spanish speaking front line staff
• Relatively robust menu of transactional services

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Additional Challenges for DGEFCU

• Financial Resources
• Capacity to add a 3rd branch
• Capacity to serve immigrants, capacity to
  integrate ourselves into the community
• Staff and member buy-in

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The Collaborative Process

• Aligning interests and desired objectives
• Developing the shared branch model
• Obtaining board buy-in
• Formalizing the partnership
• Organizing Credit Union Service Organization
• Collaborating!!!

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The ACCESO Collaborative
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Structure Governance
CUSO Board (3 Directors/CU)
Advisory Board
DGEFCU 40M 10,500 mbrs
IDB-IIC FCU 274M 7,300 mbrs
OAS Staff FCU 116M 4,700 mbrs
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ACCESOs OBJECTIVE

• To serve the multicultural and diverse
  communities of Ward One
• Adams-Morgan
• Mount Pleasant
• Columbia Heights
• through financial products, services, and
  education designed to meet the needs of Hispanic
  and Caribbean immigrants.

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ACCESO the shared branch

• Opened February 26, 2006.
• Staff are bilingual in English and Spanish most
  are New Americans half live in the community.
• Staffing and operations same as any retail CU
  branch. All infrastructure support derives from
  the 3 CU partners.
• CU membership offered through DGEFCU.
• Loans are participated amongst the 3 CU partners.
• ACCESO is an SCC shared branch outlet.

3059 Mount Pleasant Street NW Washington, D.C.
20009 Monday-Friday 830 a 700 p Saturday
830 a 230 p
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Products and Services

• SERVICE
• Check cashing
• Remittances
• Money orders
• Shared branch transactions

• CREDIT
• Small personal loans credit builders
• Secured unsecured loans
• Mortgages

• SAVINGS
• Low balance requirements
• Attractive rates
• Savings club accounts
• SAFE accounts

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Community Outreach

• Implementation of Open House series.
• Collaboration with existing community and
  faith-based organizations to complement various
  efforts from IDAs to home counseling programs.
• Business relationships.

ACCESOs 1st Community Day attracted 300 people!!
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Operating Goals

• Create access to affordable financial services
  and credit for the immigrant community within the
  FOM.
• Goals (for Year 1) include
• - CU membership participation by un-banked
  individuals
• - Transactional services of remittances sent
• - Educational seminars, participation by members
  and non-members of participants
• - Home ownership seminars of participants
• - Lending objectives

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ACCESO Performance (as of May 24th)

• 53 new memberships
• Total savings of 197,400, average share balance
  3725
• One loan disbursed for 1,000, two in the
  pipeline
• One co-op housing loan for 26 units also in the
  pipeline

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Benefits to the Collaborative

• For DGEFCU, a culturally enriched environment
  enhances other sensitivities that improve overall
  service to our members.
• Name recognition and reputation open new doors.
  
• Closer ties to CU sponsors.
• Overall, good-will!!!

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THANK YOU! GRACIAS!