WHO WE ARE
CREATING AND PROTECTING OWNERSHIP AND ECONOMIC OPPORTUNITY FOR ALL.
Self-Help is more than a credit union; we are a community development organization
helping families and neighborhoods grow and thrive. Together with our members,
borrowers, partners and supporters, we provide fair and affordable financial services;
we help renters become homeowners; we help small businesses grow and create jobs;
we convert neglected buildings into community assets; and we advocate for responsible
lending policies that help all people, especially families with low-to-moderate incomes.
36 YEARS.
Woody Eaton co-founded Blue Ridge
Biofuels in Asheville, NC to provide
sustainable and clean burning
biodiesel fuel. A 2015 Self-Help loan
helped him expand.
$7 BILLION LENT.
OVER 129,000 MEMBERS.
Verónica and Daniel Jiménez of
Apopka, FL have always wanted to be
homeowners. In 2016, after saving
diligently for years, they bought their
first home with a Self-Help mortgage.
Cathy Eberhardt of Oakland, CA
came to Self-Help in 2016 to get help
recovering from a bankruptcy. Now
her credit score has climbed, her
finances are stable and she’s saving
for the future.
Self-Help Credit Union · Self-Help Federal Credit Union · Self-Help Ventures Fund · Center for Responsible Lending
North Carolina | California | Florida | Greater Chicago | Washington, D.C.
WHAT WE DO
CONSUMER FINANCIAL SERVICES
REAL ESTATE DEVELOPMENT
• Our full-service credit unions serve over
129,000 members online and through 48
branches and offices in North Carolina,
California, Florida and greater Chicago.
• We develop commercial real estate
that spurs community revitalization
and anchors neighborhoods.
• We offer personal loans, market-rate
deposit accounts for people of all incomes,
and more.
COMMERCIAL LENDING
• We lend to small and large businesses
to create jobs, expand opportunity and
contribute to community wealth.
• We lend to institutions that help communities
thrive — like child care centers, public
charter schools, healthy-food providers,
solar farms, affordable housing, faith-based
organizations, nonprofits and more.
HOME LENDING
• We provide home loans with fair terms
and reasonable rates, focusing on low- and
moderate-income buyers.
• Our secondary market program helps
bring affordable mortgages to thousands of
homebuyers nationwide.
• We support homeowners throughout their
mortgages, and work with families facing
foreclosure to help them stay in
their homes.
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• We build and rehabilitate affordable
housing, especially in neighborhoods
hard-hit by foreclosures.
• We use green building practices that
improve energy efficiency, reduce waste
and restore historic buildings.
POLICY AND ADVOCACY
• Through our research and policy arm, the
Center for Responsible Lending, we publish
groundbreaking research and promote
policy solutions that encourage responsible
lending, end abusive financial practices
and ensure a fair and inclusive
financial marketplace.
• We share our expertise and research to
help the financial services field better serve
low-income families.
SELF-HELP IN 2016
Dear Friends and Supporters,
We are pleased to report that 2016 was a year of
growth and increased impact for the Self-Help family
of credit unions, which now serves communities in
North Carolina, California, Florida and Chicago.
In all our locations, we continue to demonstrate that
families of modest means can build wealth when given
the opportunity, especially through homeownership. In
2016, we made direct loans that helped 964 families
become homeowners, an increase of 41% from the
previous year. Through loan purchases with lending
partners, we helped many more, supporting $136
million in mortgages. Other areas of impact included
these:
• 13,000 consumer loans ($77 million)
• 15 solar loans ($49 million)
• $127 million in loans to small businesses
and community facilities
• Over 1,000 jobs
• 5,640 child care and classroom spaces
We’re also expanding our impact through mergers.
In 2016, Self-Help Federal Credit Union merged with
Community Trust Federal Credit Union in Apopka, FL
and with Family Federal Credit Union in Wilmington,
CA — two credit unions with a history of serving
farmworkers and Latino families. Self-Help Credit
Union merged with Greater Piedmont Credit Union,
which began by serving employees of Durham
Regional Hospital in central North Carolina. This
year we’re excited to welcome Seaway Bank and
Trust, based in Chicago’s South Side, to the
Self-Help family.
Even with all our progress, 2016 was a tough year in
many ways. In North Carolina, thousands of families
suffered from flooding in the eastern part of the state
and wildfires in the west. On the policy level, we
continue to stand up against discrimination, fight
abusive financial practices and defend the Consumer
Financial Protection Bureau.
Our loans support homeowners, teachers, firefighters,
child care workers, healthy-food entrepreneurs, small
business owners and enterprises that help revitalize
neighborhoods. We’re dedicating the year ahead
to these borrowers and to all of our members and
partners in the communities we serve.
Martin Eakes
Chief Executive Officer
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HIGHLIGHTS OF OUR WORK
SERVING CREDIT UNION MEMBERS
Self-Help member Mike Moreno has deep roots
in Chicago’s Little Village. He’s a business owner
in the neighborhood, like his father before him.
Mike is also a loyal member of Second Federal, a
division of Self-Help Federal Credit Union. Second
Federal has been serving Chicago neighborhoods
since 1892. We’re proud to continue that work.
EXPANDING HOMEOWNERSHIP
Rashetta Chasten of Fayetteville, NC remembers,
“I always said, ‘Before I turn 30, I want to have my
own house.’” Last year Rashetta achieved her goal
and became a homeowner, thanks to a mortgage
from Self-Help. She loves her new home, especially
the backyard and the nearby good schools.
HELPING MEMBERS REACH THEIR GOALS
Member Silvana Rangel of Durham, NC has always
been passionate about healthy food. When she
launched her catering business Soul Cocina in
2015, she focused on wholesome, plant-based
foods like her top-selling vegan tamales. Last year,
she came to Self-Help for a small loan to expand
into her first physical location.
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SUPPORTING HIGH-QUALITY EDUCATION
Endeavor College Prep (ECP) is a public K-8 charter
school in east Los Angeles serving 650 mostly
Latino students. ECP prides itself on creating
“a small, safe, structured environment” and
helping every student succeed. A 2016 loan from
Self-Help helped ECP move into a newly renovated
building in Boyle Heights, the heart of LA’s
Mexican-American community.
BRINGING HEALTHY FOODS
TO A FOOD DESERT
Neighborhood activists in northeast Greensboro,
NC have spent nearly 20 years working to get a
local grocery store. In 2016 they reached their goal
when Renaissance Community Co-op (RCC) opened
its doors. RCC is the first new tenant in Renaissance
Shops, a once-neglected shopping center now
undergoing a $7 million revitalization by Self-Help.
PROTECTING CONSUMERS FROM ABUSIVE
FINANCIAL PRACTICES
Last year, our policy and research arm, the Center
for Responsible Lending (CRL), continued to make
strides in fighting predatory financial practices and
strengthening protections for consumers. CRL works
with partners across the country on issues including
payday loans, auto loans, abusive debt collection,
mortgages, student loans, overdraft fees and more.
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OUR IMPACT: 1980 - 2016
131,000 LOANS TO
FAMILIES, INDIVIDUALS
AND ORGANIZATIONS
$7 BILLION
MORE THAN
PROVIDED
CREDIT UNION
IN FINANCING
129,000
MEMBERS
LOANS TO:
PEOPLE OF
COLOR
LOW INCOME
BORROWERS
73%
81%
74,800
SCHOOL OR
CHILD CARE SPACES
$175 SOLAR
ENERGY
MILLION
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PROJECTS
WOMEN
39%
43,800
JOBS CREATED
COALITION OF
500K AGAINST
PAYDAY LENDING
RURAL
AREAS
31%
UNDERSERVED
AREAS
65%
HOME LOANS FOR
7,600
FAMILIES
$349 MILLION
IN CONSUMER LOANS
2016 FINANCIAL RESULTS
LOAN PORTFOLIO
2016 COMMUNITY INVESTMENTS
(as of December 31, 2016)
Loan Originations and Real Estate Development
(Dollars in Thousands)
(Dollars in Thousands)
REAL ESTATE DEVELOPMENT
$33,181
CONSUMER LOANS
$184,859
CONSUMER LOANS
$76,887
HOME LOANS
$123,712
COMMERCIAL LOANS
$426,983
COMMERCIAL LOANS
$126,860
HOME LOANS
$546,792
BALANCE SHEET
(as of December 31, 2016)
(Dollars in thousands - unaudited)
ASSETS
Cash & Equivalents
Loans & Investments, Net of Reserves
Net Real Estate Assets
Other Assets
Total Assets
$315,961
1,403,373
173,740
90,086
$1,983,160
LIABILITIES
Reserves for Guaranteed Loans
Credit Union Deposits
Notes Payable &
Program-Related Investments
Other Liabilities
Total Liabilities
Core Net Assets & Other
Comprehensive Income
Total Net Assets
2016 INCOME STATEMENT
(Dollars in thousands - unaudited)
REVENUE
Investment Income
$2,114
Loan & Secondary Market Interest
92,492
Rental Income
13,388
Fees & Other Income
18,839
Grants & Non-Operating Gains
13,874
Total Revenue
$140,707
EXPENSES
6,859
1,131,354
213,801
31,987
$1,384,001
NET ASSETS
Non-Controlling Interest in Subsidiaries
64,255
Interest & Dividends
21,702
Compensation & Benefits
40,155
Other Operating Expenses
36,378
Provision for Credit Losses
5,903
Depreciation7,352
Total Expenses
$111,490
NET INCOME$29,217
534,904
$599,159
TOTAL LIABILITIES,
NON-CONTROLLING INTEREST
& CORE NET ASSETS$1,983,160
OFF BALANCE SHEET
Guaranteed Community Development
Loans & Investments
$151,029
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The Self-Help organization includes two credit unions,
a nonprofit loan fund and a research and policy group.
PLEASE JOIN US AND HELP SUPPORT
ECONOMIC OPPORTUNITY FOR ALL.
www.self-help.org · www.self-helpfcu.org · www.responsiblelending.org
North Carolina | California | Florida | Greater Chicago | Washington, D.C.