Investing to meet the need for responsible financial services
Too many communities across the country lack access to affordable financial services
Jerry Gray, Praxis Wholesaler, participated in a Self-Help Federal Credit Union tour during a the SRI Conference in San Diego.
Founded in 2008, Self-Help Federal Credit Union built a network of credit union branches that operate on a scale uncommon in the community development industry. Through a series of mergers, acquisitions and new branch launches in California, Illinois, Florida and Wisconsin, it is building a community development credit union that aims to provide high-impact financial services to working class communities across the country.
SHFCU intentionally locates branches in underserved communities, and extends its service through partnerships with local nonprofit groups. It also serves neighborhoods by financing community development projects and rehabilitating historic buildings in areas that have suffered from disinvestment and blight.
Their San Diego branch has worked to support low-income, minority, and immigrant people in the City Heights neighborhood. Over the past year, it has:
- Financed 45 consumer loans, totaling $327,942 in lending activity.
- 96 percent of those loans supported low-income people and communities.
- 91 percent supported people of color borrowers.
Everence® and Praxis Mutual Funds® recognize and support the impact SHFCU has in the communities it serves through investment relationship going back over 15 years. Everence Charitable Services has $250,000 invested directly with SHFCU and Praxis invests in SHFCU through our partnership with Calvert Impact Capital as part of its 1 percent commitment to community development investing.