National Foundation To Get REALSolutions

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WASHINGTON - (07/25/06) – The Filene Research Institutesaid Monday it is handing over management of its REAL Solutionsproject to the National CU Foundation just as the pilot program toincrease service to the underserved is being implemented in threestates. Bob Hoel, director of credit union think tank, told TheCredit Union Journal Filene planned to serve as a temporaryincubator for the pilot and then planned hand it off to anotherother entity that would implement it across a wider swath of thecredit union movement. The National Foundation has committed tospend $3 million over the next three years to spread REAL Solutionsfrom the current three state; Wisconsin, Ohio and Maryland, to amuch broader market. Among the offerings that have been createdunder REAL Solutions are alternatives to payday lending and checkcashing; as well as strategies for reaching out to immigrants. Thefoundation will be hosting the REAL Solutions first nationalinstitute: the Low-Wealth Households Conference, Aug. 23-25 inPittsburgh.

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