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Co-Op Capital and the Fed

City Alive Business, Capital and Financing, Finance, Policy Change

Co-Op Capital and the Fed


Robin Brulé, Nusenda’s Senior Vice President of Community Relations and Assistant to the President shares Co-op Capital Concept at the fed’s regional symposium

“I was thrilled to see that Robin is part of the Community Development Financial Institution Regional Symposium’s program. The Nusenda story is compelling and inspirational. They have been an active and influential player in the Community Development space throughout Albuquerque.” Steve Maestas, Chief Executive Officer, Maestas Development Group and Appointed Chair, Federal Reserve Bank of Kansas City Board of Directors

On Wednesday, June 15th, Nusenda Credit Union participated at the Community Development Financial Institution (CDFI) Regional Symposium hosted by the Federal Reserve Bank of St. Louis. This invitation-only symposium in Memphis Tennessee targeted CDFI practitioners across the Midwest and Midsouth and marked Albuquerque’s second deep engagement with the Federal Reserve Bank system this year. The symposium focused on how financial institutions across the region are innovating and collaborating to meet the needs of vulnerable communities through collective impact strategies and goals, and shared best practices around collaborating constructively on solutions that have real results.

Robin Brulé was invited to speak on behalf of Nusenda Credit Union’s Co-op Capital program, a strategy uplifted from the Albuquerque Living Cities Initiative’s Planning Year. The Co-op Capital lending structure—which has now been deployed by numerous partner organizations totaling over $438,000 of investment in New Mexico— allows borrowers to apply for loans through a trusted organization rather than a financial institution, which in turn enables loans to be based on character, trust, and relationship rather than a credit report or collateral. As a Collective Impact strategy, Co-op Capital tackles deeply entrenched and complex barriers to access capital by making collaboration work across government, business, philanthropy, nonprofit organizations and citizens.

The symposium featured diverse voices across all levels of community development work, from funders to regulators to fellow CDFI practitioners.

CONNECT THE DOTS

COMMONALITIES with the Albuquerque Living Cities Integration Initiative: Co-op Capital contributes to the job growth and economic mobility we seek through our Integration Initiative.

OPPORTUNITY: The Albuquerque Living Cities Integration Initiative is in direct conversation with the Federal Reserve Bank of Kansas City to explore collaborating on Community Development best practices to constructively discover solutions that have real results.

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