WASHINGTON-The National Cooperative Business Association (NCBA) has launched a program that will certify credit union staff as financial counselors as part of an effort to "protect the most vulnerable members from predatory lenders."
According to the NCBA, the Community Development Certified Financial Counseling (CDCFC) program will credit union staff to identify financial distress and work directly with members to prevent financial catastrophe. CU Strategic Planning, Tacoma, Wash., created the CDCFC training, and NCBA is the certifying body for the program.
"Working people have been having a difficult time in this economy," said NCBA CEO Mike Beall in a released statement. "All cooperatives-especially credit unions-have a role to play in improving the lives of their members. Having a concern for the community is one of the core principles of cooperatives. Credit union staff members that participate in the CDCFC program will understand how best to support working people that are finding it hard to make ends meet. Without this type of support from the credit union, these people can fall victim to predatory lenders."
Beall, who was previously president of the Missouri CU Association, said he considers the CDCFC program a key component of NCBA's community development efforts.
"This tool is a great piece to help us get where we want to go domestically," Beall said. "NCBA is working with cooperatives on developing community based, sustainable wealth-building strategies and increasing collaboration among cooperatives. The CDCFC program can involve credit unions in building community wealth and enable them to promote their financial products to complement established community-building efforts."
During CUNA's GAC this week the NCBA will recognize Pelican State Credit Union in Baton Rouge, La. as the first financial institution to certify its entire staff through the CDCFC training program.
