CDCU Pleads for Survival

WICHITA, Kan. – The state’s only community development credit union, Communities United CU, is in financial trouble again and seeking assistance from the credit union community. Officials with the $2.3 million said they need a short-term infusion of as much as $200,000 to remain solvent, as state examiners are scheduled to visit next week. The 10-year-old credit union, which provides a variety of low-income products and services, was only saved two years ago with an infusion of $50,000, but officials say they need longer term capital commitments of as much as $500,000 for long-term viability. The credit union is on the forefront of several low-income initiatives, including Individual Development Accounts, tax preparation for low-income people, and financial education.