Talk to Cathie Mahon, CEO of Inclusiv, and it’s a fast ride into what mission makes a credit union special, distinctive and in her mind the answer is clear: serving the underserved and usually that means economically disadvantaged.
She has tantalizing insights too. For instance: she tells why the business model of community development credit unions may in fact be primed for greater success than the model followed by most credit unions.
This is all about making credit unions work for their communities. That’s cooperative principles in action.
There are about 1000 so-called community development financial institutions (CDFIs). They do good work. Tune in to find out more.