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Food Processors Credit Union
Modesto CACDFI Awards for Food Processors Credit Union
FA (2006) - $393,440
Community Trust Credit Union (CTCU, formerly known as Food Processors Credit Union) was established in California?s Central Valley in 1961. At the end of 2005, it had three branches, total assets of $50 million, and 12,000 members. CTCU offers traditional credit union account offerings as well as programs, products, and services that feature access to education, information, and end-use products that support financial stability for Hispanic and other underserved, low-income families preparing them for the ultimate goal of homeownership. The $293,700 Financial Assistance Award will be used to cover staff salary costs for a new Call Center model to be implemented in 2007. The Center will help the Awardee to more efficiently manage the high volume of activity generated by its members and thereby free up other staff for more direct development services. The additional $99,740 Technical Assistance grant will be used to: 1) purchase Call Center technology and installation, office furniture, computers, printers, and other equipment; 2) hire consultants to reconstruct offices to accommodate the new Call Center; and 3) provide training for at least three staff members on Call Center management and cross selling of products.
TA (2004) - $78,640
Food Processors Credit Union will use the award to acquire technology for an ATM branch, that will provide affordable financial services in an underserved market.
CORE (2002) - $592,500
The Fund"s technical assistance grant of $92,500 will be used to purchase technology and contract consulting services in preparation for the credit union"s expansion.
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