HOLIDAY SCHEDULE FOR 2008
Northeast Community will be closed on the following days:
New Year’s Day Martin Luther King Jr. Day Presidents' Day Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day Christmas Day	Monday, January 1 Monday, January 15 Monday, February 18 Monday, May 26 Friday, July 4 Monday, September 1 Monday, October 13 Tuesday, November 11 Thursday, November 27 Thursday, December 25

Trying to manage your checking account?…balance your budget?
Try the STEPS TO FINANCIAL SUCCESS workshop.
STEPS TO FINANCIAL SUCCESS is a free, confidential workshop offered by Consumer Credit Counselling Services of San Francisco. Trained counsellors offer this workshop and are ready to meet with you 1-on-1 basis. They also offer other, free workshops on affordable housing options, saving, investing, and your credit report. To make an appointment or to find out about the next workshop, contact us at 415-434-0738.

READ NORTHEAST COMMUNITY NEWS ON LINE

The Spring 2008 edition of Northeast Community Newsletter
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· The Winter 2007 edition of Northeast Community Newsletter
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· The Fall 2007 edition of Northeast Community Newsletter
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· The Summer 2007 edition of Northeast Community Newsletter
English Chinese

· The Spring 2007 edition of Northeast Community Newsletter
English Chinese

· The Winter 2006 edition of Northeast Community Newsletter
English Chinese

· The Fall 2006 edition of Northeast Community Newsletter
English Chinese

· The Summer 2006 edition of Northeast Community Newsletter
English Chinese

· The Spring 2006 edition of Northeast Community Newsletter
English Chinese

• The Winter 2005 edition of Northeast Community Newsletter
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ANNUAL REPORTS
Click here for the 1998 Annual Report

Click here for the 1999 Annual Report

Click here for the 2000 Annual Report

Click here for the 2001 Annual Report

Click here for the 2002 Annual Report

Click here for the 2003 Annual Report

"Fresh Start" Loans
Have you been trying to re-establish your credit, but have been unsuccessful? Then try our "Fresh Start" Loan program. Upon completion of this program, Northeast will report your accomplishment to the credit bureau, which will help you to re-establish a good credit rating.
To take out a "Fresh Start" Loan, call Lily Lo at (415) 434-0738. 

Individual Development Accounts (IDAs)
IDAs are matched savings accounts designed to help low-income individuals build assets such as home ownership, education or vocational training, or start or expand a small business.
For more information contact us at. (415) 434-0738 or e-mail info@NECFCU.org.

Credit Union Opens In Tenderloin
On June 25, more than a hundred Tenderloin residents lined up for the opportunity to make their financial lives a little more secure. Along with city officials and community nonprofits, they came for the grand opening of the Tenderloin branch of Northeast Community Federal Credit Union.

The opening was the culmination of more than six years of work by the community, including TNDC. "The opening of the credit union branch was a true partnership between nonprofits and the private and public sectors," said Michael Chan, president of the Board of Directors of Northeast Credit Union.

Long Effort Pays Off

James Brady, a long-time advocate for a Tenderloin credit union, said the effort started 6 1/2 years ago. He recognized several people's efforts, "most of all, Yvette Robinson," TNDC's Director of Tenant Services. "Some people thought this day would never come. I always believed it would, and if I ever had doubts, Yvette always helped me keep believing."

The Tenderloin branch of Northeast provides savings accounts, loans, and financial education, and will eventually offer checking accounts. Investments in the credit union will be ploughed back into the community in the form of small business loans, auto loans, personal loans, and other forms of credit to help build the economic base of the Tenderloin.

Owned by Its Members

"Whether you have $25, $25,000, or $25 million, you can have a voice a the credit union," said Lilian Autler, Tenderloin branch manager. Explained Ed Callahan, CEO of Patelco Credit Union, which provided technical assistance to opening the branch, "You are the member owners. No one else owns the credit union."

A devastating feature of many poor neighbourhoods is a lack of financial institutions. As a result, people pay a premium for being poor. Check-cashing facilities and corner stores charge high fees. Many banks charge monthly fees for low balances. Fees reduce purchasing power for rent and food, and make it harder to build up even a small reserve of savings.

"We need to drive the check-cashing facilities out of the community," Brady said. "We need to provide the opportunity for people to get credit or restore their credit. Down the road, when the deposits roll in, you'll really be able to see the benefits."

Community Development

Mayor Willie Brown cut the ribbon, officially opening the Tenderloin branch of the credit union. "I congratulate Mr. Brady and all those associated with the credit union. I look forward to the great success this is going to bring the Tenderloin community." The Mayor's Office of Community Development provided Community Development Block Grant funding to assist Northeast with planning and marketing the branch.

TNDC is the branch's landlord, leasing space in the Ritz Hotel to the credit union, at reasonable rates, at 215 Taylor Street.

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