NC Minority Support Center Notes 20 Year Anniversary, Sees Bright Future (5/14/2010)

Attendees of the NC Minority Support Center's Annual Meeting celebrated 20 years of success in bringing economic opportunity to rural and low-wealth communities across the State. The meeting also focused on how Community Development Credit Unions could continue to thrive in the future.

Representatives from North Carolina’s Community Development Credit Unions gathered at the Friday Center in Chapel Hill May 12-13 for the NC Minority Support Center’s Annual Meeting. The gathering had special meaning on multiple fronts, including celebrating the Support Center’s 20th anniversary as well as welcoming Lenwood Long, the new president/CEO of the organization.

Lenwood Long, one of the original founders and a longtime supporter of the NCMSC, was named president of the Support Center in April.

The Support Center came into being in order to assist CDCUs in their efforts to serve low-wealth communities across the State. Many CDCUs were merging or liquidating in the late 1980s, as the regulatory environment grew increasingly burdensome.

The two day meeting included educational sessions and updates from a variety of speakers. National Federation of Community Development Credit Unions President/CEO Cliff Rosenthal shared current trends at CDCUs nationwide. Rosenthal also shared information about the Federation’s advocacy role in Washington, DC and its work to help secure TARP funds to be used for community development.

Self-Help Credit Union President/CEO Martin Eakes, who helped found the Support Center, shared a video of the organization’s early years. Eakes also relayed many stories of travels with Lenwood Long to meet with the people at the CDCUs who were helping to spur economic growth and opportunity at the grassroots level. Eakes also pointed out that a few times, he and Long had to battle Federal regulators on the spot who were trying to close down a credit union.

Long was named president in April, but has been associated with the Support Center from the very beginning and was instrumental in its founding. He noted that the organization was keenly focused on the future. "We’re going through a rebranding process. We’re looking for new partnerships and looking at new ways to serve our members."

"The NC Minority Support Center continues to be a key advocate for Community Development Credit Unions across the State," noted NC Credit Union League President/CEO John Radebaugh. "Through hard work, vocal leadership, cooperation and creativity, they've been a model to CDCUs worldwide. The League and credit unions statewide salute their fierce commitment to economic justice, and congratulate them for 20 years of successful service to their members." 

"It’s been great to be able to stay involved in the continuing development of our credit unions," said Support Center Board Member Frances Bradshaw, who has been involved with NC’s CDCUs for 15 years. "I believe CDCUs continue to be a vital aspect of communities."

Bradshaw recalled hearing from a member of Generations Community Credit Union who was able to open a day care center through the support and commitment of the credit union. "It was great to get that feedback from a member and know that Generations was able to help."

In addition to the educational sessions, the Support Center presented awards to five people who have been key supporters of CDCUs in NC. Rep. Mickey Michaux and Sen. Floyd McKissick received CDCU Advocacy Awards for their efforts to support the CDCUs over the years.

Local Government FCU President/CEO Maurice Smith presented a breakout session Wednesday showing the effects of public policy on financial consumerism. Smith sits on the Support Center board of directors.

The Support Center also awarded its first NC Community Development Credit Union Pathfinder Awards to First Legacy FCU President/CEO Saundra Scales, Martin Eakes and Lenwood Long.

Local Government FCU President/CEO Maurice Smith, who sits on the Support Center board, said he is very excited about both the Support Center’s accomplishments, and what the future holds. "We want to find even more effective ways to help people prosper."

He also says the Support Center will be looking for ways to connect CDCUs with other credit unions in NC. "CDCUs can be a real face of the movement, especially in an era where credit unions are showing people who we are and that we are different."