- NCFCU is a credit union which provides banking services to those who do not meet the minimum
requirements of conventional banks. Its savings products include savings accounts, certificates of
deposit payroll deductions, dividends and direct deposit. A member can open an account with one
identification document and a minimum of $5.00---doable by the homeless and low income residents of
- Lending products include personal loans, auto loans, home mortgages, home
improvement loans, small business loans, "Fresh Start" loans and "Grace" loans.
- In 1988,
NCFCU initiated a second mortgage program to assist members obtain financing for small businesses
or for furthering the vocational or academic education of their children. In 1997, Northeast began
to initiate first mortgages through the development of a number of mortgage products for first time
homebuyers, property owners in need of refinancing and those in need of home equity
- In 1990, NCFCU developed a cooperative lending venture with the Center for Southeast
Asian Refugee Resettlement. This loan-guarantee program supports the establishment and expansion
of Southeast Asian businesses in the area of printing, import-export and garment manufacturing.
This program alone has provided over $550,000 in financial assistance and supported the
creation/retention of over 167 jobs.
- Northeast Community Federal Credit Union established a
minority business loan program with the support of the Mayor's Office of Community Development in
San Francisco. It also offers budget counseling, a member newsletter and financial counseling to
all of its members and clients.