More than simply financial service institutions, Community Development Credit Unions are integral parts of local ecosystems with deep roots and partnerships in the communities they serve. Long-time Mercy Partnership Fund investee Inclusiv (formerly known as the National Federation of Community Development Credit Unions) is dedicated to helping strengthen these cooperative banking institutions so low- to moderate-income people and communities can achieve financial independence. Brooklyn Cooperative Federal Credit Union, one of Inclusiv’s more than 450 members, exemplifies the important work of these community-focused financial institutions.
Organized in 2001 as a minority depository institution, Brooklyn Co-op serves communities in Central and Eastern Brooklyn, New York – historically underinvested communities that continue to experience the impacts of redlining. During the COVID-19 pandemic, Brooklyn Co-op’s lending served as a lifeline for hundreds of small businesses through federal Paycheck Protection Program loans. Complementing the credit union’s retail financial services, Brooklyn Co-op members have access to financial counseling, legal services, tax guidance, foreclosure prevention and homeownership counseling, as well as workshops for first-time buyers. A financial “first-responder” in its community, Brooklyn Co-op is one of New York City’s most active small business lenders within Inclusiv’s Juntos Avanzamos (Together We Advance) network of credit unions. Juntos Avanazamos credit unions serve and empower Hispanic and immigrant consumers, helping them navigate the U.S. financial system with safe, affordable and relevant financial services.
Mercy Partnership Fund invests in more than 60 mission-focused organizations supporting affordable housing, access to financial services, healthy communities, environmental sustainability and more. Learn more about the wide-ranging impact of these organizations.