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News

Lower East Side People’s FCU receives $700,000 from Federal CDFI Fund to expand its work in low income and immigrant communities

 (New York, September 24, 2018) Lower East Side People’s Federal Credit Union (LES People’s), a financial cooperative serving low income and immigrant New Yorkers, has been awarded $700,000 from the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund. The award, announced last week, will support LES People’s community development lending and allow the credit union to serve greater numbers of low-income New Yorkers, small and cooperatively-owned businesses, limited-equity housing coops, and nonprofit organizations.

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Public Money for a Public Good!

What if you had a say in where public money was invested, instead of letting private banks decide where to invest your money? The Public Bank NYC coalition is committed to advancing racial, economic and environmental justice, so public money can be invested in sustainable, community-led development and a better future for all New Yorkers. Watch our Board Chair, our CEO discuss Public Bank NYC’s recent launch and the benefits for our communities in the Laura Flanders Show. Watch the full interview here.

The Little Bank That Could – New York Times APR 13, 2018

When Mick Mulvaney was named acting director of the Consumer Financial Protection Bureau in January, several critics expressed outrage over the appointment. But only two went to court to try to block it. […] And the second was the Lower East Side People’s Federal Credit Union, a nonprofit financial cooperative, whose modest size — just $54 million in assets — belies both its public profile and the scrappiness of its chief executive officer, Linda Levy.  Read More