Steve Delfin and Joe Thomas Highlight Credit Union Outreach on CNN
FAIRFAX, Va. (5/12/09)—National Credit Union Foundation Executive Director Steve Delfin and Fairfax County Federal Credit Union President/CEO Joe Thomas are appearing daily on CNN Headline News’ Cox Local Edition.
Delfin focuses on the importance of credit unions reaching emerging markets.
|“Our role is to help credit unions better serve low-wealth, modest means households and working families,” Delfin explained.|
“This is work that’s very important right now in our environment with what’s happening in the financial services sector. And it’s also important for the growth of credit unions – because in emerging markets like the Hispanic market, that’s where credit unions are going to see their growth in the future.”
|Thomas focuses specifically on how Fairfax County Federal Credit Union is reaching the Hispanic market.|
|Thanks to a $99,900 NCUF Innovation Grant, Thomas said “we’ve been able to increase our educational output and our products and services to increase savings (in the Hispanic community) and ultimately generate wealth for their local families.”|
One of the most popular products is “Safe Accounts” for immigrants who don’t yet have a Social Security Number. “They’re still required by the IRS to have a Taxpayer Identification Number,” Thomas pointed out. “We’ve become now an agent for people to come to us, and we will be able to act on their behalf and get their Taxpayer Identification Number… We will submit the forms to IRS on their behalf.”
Interview Airing Daily on CNN Headline News
|CNN Headline News’ interview with Delfin and Thomas began airing in full on May 5 and will continue to air seven times a week through July 5.|
The cable television broadcast reaches 244,000 households each day throughout Fairfax County, home to diverse communities near Washington, DC.
Credit Union Membership Growing
|With the additional visibility and outreach made possible by its Innovation Grant, Fairfax County FCU projects that by year-end, Hispanics will account for as many as 25% of the credit union’s new members.|
Investing in Communities
|Delfin concluded that as long as credit unions continue investing in the Community Investment Fund (CIF), NCUF will be able to continue funding programs that benefit credit unions and their members.|