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 Tin Shing Printing
In the early
Eighties, Ming Lok started a printing business. After being turned down by
many banks, this recent immigrant approached Northeast Community Federal
Credit Union for financing. The credit union provided the funding to help Mr.
Lok realize his dream. He established the Tin Shing Printing company in the
center of Chinatown. At first, the business consisted
of Mr. and Mrs. Lok and their five children. Within three years, annual sales
grew to almost $100,000. Their business continued to grow, with the help of
many loans from the credit union. Today, Tin Shing Printing has ten employees
(including four children) and annual sales exceeding $500,000. It is one of
the premier printing companies in Chinatown.
Sixth and Minna Street
Mini Market
In 1990, Ben and
Ida Fadallar immigrated to the United States form the Philippines with their
grandparents, parents, and three children. The whole family lived together in
a small apartment in the Tenderloin neighbourhood in San Francisco. Ben worked as a security guard
and Ida at a pawnshop. In 1995, the Fadallars received some very good news:
they had been chosen in a lottery as one of the twenty-four families who were
being admitted into a new low-income affordable housing project.
The neighbourhood where
this new housing project was built contained few commercial businesses. A
condition of approval was the establishment of a mini mart within the
project. While $3.5 million in public and private funding was obtained, none
of the monies could be used for the mini mart. The Northeast Community
Federal Credit Union stepped in and provided the $70,000 gap financing. Mr.
and Ms. Fadallar approached the developer, with a loan request to run the
mini mart. The developer assisted them in designing a business plan and
enabled them to establish a financial relationship with the credit union.
Two years later, the
Tenderloin Mini Mart is doing well. Ben and Ida have learned a tremendous
amount about running the business and are providing an invaluable service to
the community.
 Richard Smith, Tenderloin Resident
Richard Smith*
lives at the St. Christina Hotel in the Tenderloin. The St. Christina is
owned and operated by Community Housing Partnership, a community-based
organization. Richard's income is his $172.50 transitional check, which he
receives twice a month. Mr. Smith doesn't have a bank account but needs a
financial institution to cash his assistance checks. Richard was so excited
about the prospect of the Northeast Community Federal Credit Union opening a
branch in the Tenderloin, which he joined the Tenderloin Advisory Committee
and volunteered to staff the temporary Tenderloin credit union location, with
an emphasis on community outreach.
(*Pseudonym to protect
confidentiality)
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