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Bethex Federal Credit Union
20 East 179th Street, Lower LevelBronx NY, 10453-4770
CDFI Awards for Bethex Federal Credit Union
TA (2005) - $46,254
Bethex will use the 2005 TA grant of $46,254 to improve its technology infrastructure. Items to be purchased include 14 desktop workstations, a laptop and a portable printer, an Audio Response system server and additional phone lines - expanding capacity to respond to five callers at one time, LCD Projector, and three Bill Counter/Currency Scanner machines.
SECA (2002) - $45,000
The Technical Assistance grant of $45,000 will be used to conduct a membership survey, produce geo-coding maps, acquire accounting software and provide computer training for staff.
SECA (2001) - $53,000
The Fund"s technical assistance grant will be used to purchase technology, train staff and cover a staff salary for the purpose of designing marketing and staff development plans.
SECA (1999) - $108,700
Bethex is using a 1998 TA award for computer equipment in both its main office and in its new branch. The 1999 TA award will augment the computer upgrading and provide an ATM for the new branch.
CORE (1998) - $460,000
With the help of the CDFI Fund, Bethex plans to open a second branch in the Mott Haven District of the South Bronx.
CORE (1996) - $100,000
The CDFI Fund will provide a major infusion of net worth to Bethex in the form of $100,000grant. This investment from the CDFI Fund will be leveraged many times over through the attraction of new member and non-member shares. The credit union"s principal goal is to expand its capacity by growing its net worth and $1.6 million asset base. This effort will enable Bethex to increase its consumer lending and dramatically expand home improvement and small business lending.
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