News‎ > ‎

PressRelease-2006-12-13

PressRelease-2006-12-13

For Immediate Release

Model Credit Union Making History in Boston

Boston (December 13, 2006) – Tremont Credit Union and the Boston Community Development Collaborative announced they have joined forces to open a model credit union in Dudley Square. The credit union, which will open its doors this Friday (12/15) at 41 Warren Street, will be the 1st faith and community based credit union in Boston and one of the 1st ever in the country. The Boston Community Development Collaborative (BCDC) whose mission is to promote and stimulate the development of personal wealth and community economic development and break the cycle of poverty for residents of low and moderate-income communities in Suffolk County, formed this Community Financial Partnership (CFP) with Tremont Credit Union to help develop economic self-sufficiency for adults, youths and families in low to moderate-income families.     

"What makes this project unique is that it's driven by community and faith-based organizations with a collaborative approach backed by the institutional strength of Tremont Credit Union.  Moreover, it is unique because the Boston Community Development Collaborative organizations' products and services complements Tremont's, which will provide members with a wide range of benefits including financial education, credit counseling, coaching on home improvements, small business technical assistance and business education.”  - Darryl A. Elow, President of BCDC
 
The BCDC, an organization comprised of several faith based organizations and community development corporations including the Financial Investment Initiative Group (FIIG), Christ Temple Church, Codman Square NDC, Dorchester Bay EDC, Mattapan CDC, Faith Partnership, Morning Star Baptist Church and the Jubilee Christian Church, has been leading the effort to create this community credit union since 1995 and recognized the obvious need for the capabilities, programs and support of Tremont Credit Union.

“The Community Financial Partnership is the culmination of 10 years of hard work. The leaders of the Boston Community Development Collaborative should be recognized for their commitment and dedication to the people of our community. We share in their beliefs and realized early on why this project was so important to so many. Tremont Credit Union is proud to help BCDC make history here in Boston by helping those who need it most.”- Len Broderick, President of Tremont Credit Union

The Dudley Square location was selected after a year-long feasibility study was conducted to determine the best location for the initial branch. The site was developed by Nuestra Comunidad CDC in their newly constructed building which annexes the Dartmouth Hotel.

Many friends of BCDC, Tremont Credit Union and elected officials will be attending the grand opening celebration of the Community Financial Partnership at Hibernia Hall, 1/19 from 12-2pm.

About Tremont Credit Union:
Tremont Credit Union is a cooperatively owned non-profit financial institution run for the benefit of their member-owners. Their mission is to provide the financial services and products desired by their members at competitive rates, and to protect their members' assets through prudent management, financial stability and education of the membership. They are a team of volunteers and employees, committed to seek continuous improvement both in the value of their financial products and in the quality of their member services.  They are dedicated to earning the privilege of becoming their members' primary financial institution.

For press inquiries:

AJ Gerritson, 617-926-3900 ext. 204, aj@451marketing.com

Comments