PHOENIX-Credit unions were told they do not want to become banks, among other advice, during the National Federation of Community Development CUs' Annual Conference on Serving the Underserved here. Ellen Seidman, a Senior Policy Advisor at ShoreBank, the nation's leading community development bank, said the current economic woes are precisely the reason CDFIs are more important than ever, but in order to achieve impact, there must be significant policy change, strengthening of institutions, and cross-sector collaboration.
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