CommunityWorks Federal Credit Union Joins Self-Help To Benefit Members, CommunityTo Benefit Members, Community Sep 25, 2018 Merger is effective October 1 For Immediate Release --- On Tuesday, September 25, 2018, members of CommunityWorks Federal Credit Union (CWFCU) voted to merge with Self-Help Credit Union (Self-Help) based in Durham, NC. The $3.4 million credit union, CWFCU, was chartered in 2014 to provide financial services to people of modest means in Greenville, South Carolina that are considered unbanked and under banked. CWFCU was organized by CommunityWorks, a leading non-profit community loan fund based in Greenville, SC and focused on affordable housing, financial stability and small business lending. “Our extensive work on affordable housing drew our attention to credit scores as a critical barrier to homeownership,” said Deborah McKetty, CommunityWorks and CWFCU CEO. “We launched the credit union as an alternative to predatory lending in our community. The products CWFCU provides allow members to build credit and achieve important financial milestones like homeownership.” In just 4 short years, the credit union currently serves nearly 1,500 members and experienced extraordinary growth resulting in 765 loans totaling over $4 million. Families have saved over $1.5 million in high interest by avoiding the extremely high costs loans– equating to over $2,200 a year for our members. This tremendous growth challenged the board to examine how to scale its products and services to bring homeownership and financial stability to more of the Greenville community. Extensive research demonstrated that it would take over a decade to raise enough funds to offer mortgage loans. “The board decided that we would look at strategic partners that could help us get there faster,” said CWFCU Chair John Malone. “When Self-Help Credit Union made the offer to combine efforts, our board felt that they are the best strategic partner we could bring to the community.” “The combined strengths of CommunityWorks and Self-Help will bring real depth to the Greenville area,” states Self-Help CEO Martin Eakes. “This merger will bring additional products and services to CWFCU’s members, while retaining the passion for service that made the organization so unique.” CWFCU’s deposit rates will increase significantly following the merger. Self-Help also offers a full range of financial products and services including personal, vehicle and home loans, as well as online, mobile and audio banking capabilities. United Way of Greenville County and Hollingsworth Funds are foundational supporters of the credit union’s mission and provided the initial capital to open. “United Way of Greenville County is very excited about this alliance with Self-Help and what it will do to bring even more resources to the Upstate,” said Meghan Barp, United Way of Greenville County President and CEO. “Hollingsworth Funds saw the need in 2014 and are proud of CommunityWork's efforts to create a mission focused credit union in our market. We are very familiar with Self Help's transformative work in Durham and excited to welcome them to Greenville,” shared Minor Shaw Board Chair for the Hollingsworth Funds and Duke Endowment in NC. The newly merged credit union will continue to collaborate with CommunityWorks Loan Fund and will be co-located at their offices at 100 West Antrim. Self-Help is one of the largest Community Development Financial Institutions in the United States. Since 1980, it has provided over $7 billion in financing to over 146,000 families, individuals and businesses. Self-Help helps drive economic development and strengthen communities by providing responsible financial services; lending to individuals, small businesses and nonprofits; developing real estate; and promoting fair financial practices across the nation. Self-Help Credit Union is headquartered in Durham, North Carolina, and has branches seven states, adding South Carolina as part of its recent merger with Palmetto Trust Federal Credit Union. Learn more at www.self-help.org ### ### 2019 News Releases 12/17/19 - Self-Help Credit Union Announces Merger with Turbine Federal Credit Union 11/04/19 - Free 'Know Your Rights' Event for People with Disabilities 10/14/19 - Self-Help Federal, Fresno, Grand Reopening 10/11/19 - Self-Help Credit Union is coming to Raleigh 09/19/19 - Affordable housing loan fund launches in Durham 08/13/19 - Trump Administration’s New “Public Charge” Rule Could Harm Low-Income Immigrants 07/29/19 - Self-Help Credit Union Announces 2019 Scholarship Winners 07/15/19 - Grand Opening Celebration Self-Help Credit Union, Charlotte 04/01/19 - Self-Help Offers Scholarships for Students Who Give Back To Our Community 03/27/19 - Imagine: the future of homegrown entrepreneurship 03/25/19 - March 30: Grand Opening, Angier Business and Children’s Center 02/11/19 - Self-Help Apopka Grand Opening Continues Legacy of Community Trust 02/11/19 - Free Disability Rights, Assistive Technology Event in Asheville, Feb 27 2/11/19 - Free Disability Rights, Assistive Technology Event in Morganton, Feb 26 01/31/19 - Black History, Black Entrepreneurship: Couple Launches Independent Pharmacy in Historic East Durham 01/24/19 - National Baptist Convention Embarks on National Campaign 01/14/19 - Self-Help Offers Hardship Loans to Furloughed Federal Employees 2018 News Releases 12/13/18 - New Video Explores Legacy of Bakersfield Credit Union First Founded by Cesar Chavez 09/25/18 - CommunityWorks Federal Credit Union Joins Self-Help To Benefit Members, CommunityTo Benefit Members, Community 08/24/18 - The MacArthur Foundation invests in Seaway, a division of Self-Help Federal Credit Union 08/07/18 - Newell Named President of Seaway, a Division of Self-Help Federal Credit Union 05/23/18 - Self-Help Credit Union, Mangum Street Grand Rededication (Durham) 2017 News Releases 09/19/17 - Self-Help Announces Third Annual "Bringing It Home" Conference in Asheville, NC 06/29/17 - In Senate Committee Hearing, CRL Lays Out Consumer Plan For GSE, Housing Finance Reform 06/13/17 - Florida’s Jax Metro Credit Union Merges with Self-Help Credit Union effective June 1 03/13/17 - Self-Help to Acquire Selected Branches of Former Seaway Bank in Chicago 2016 News Releases 09/13/16 - Family Federal Credit Union in Wilmington, CA Merges with Self-Help Federal Credit Union 07/13/16 - Self-Help Credit Union Announces 2016 Education Scholarships Winners 06/27/16 - Self-Help Announces DTC-eligible Term Certificates for SRI Investors 04/19/16 - Revolution Mill Media Event on Major New Tenant Thursday April 21, 8.30 am 04/14/16 - Self-Help Credit Union Announces 2016 Community Education Scholarships 04/13/16 - Self-Help Credit Union and Greater Piedmont Credit Union Announce Merger 03/10/16 - Lease Signing Ceremony Tuesday, 3pm March 14 between Renaissance Community Co-op and Self-Help 02/23/16 - Study: Self-Help “Fresh Start” Product Improves Credit Scores 02/03/16 - Florida’s Community Trust Federal Credit Union Merges with Self-Help Federal Credit Union 2015 News Releases 12/02/15 - CDFIs Craft3, Self-Help Complete Second On-Bill Repayment (OBR) Loan Sale 11/19/15 - Self-Help Credit Union Report: Racial Disparities in Marijuana Enforcement Undercut Durham Progress 11/17/15 - Grand Opening Thursday for Fresno’s Self-Help Federal Credit Union Branch 10/14/15 - Revolution Mill Hosting Media Tour Tuesday, October 20 at 10 am 10/01/15 - Self-Help’s Choice Community Credit Union Adopting Self-Help Credit Union Name 09/15/15 - National Cooperative Bank, Self-Help Federal Credit Union Team Up to Finance Los Angeles’ With Love Market & Café 09/14/15 - Self-Help Credit Union Hosts Brevard Branch Open House 08/24/15 - Self-Help Closes $4.6 Million Loan to Minneapolis’ Eastside Food Co-Op 08/17/15 - Statement on Julian Bond’s Passing by Self-Help CEO Martin Eakes 08/06/15 - Self-Help Credit Union “Adopt a Backpack” Drive Up and Running 07/28/15 - Self-Help Ventures Fund Ramps Up Construction On 45-Acre Revolution Mill SIte 07/14/15 - Self-Help Ventures Fund Ramps Up Construction on 45-Acre Revolution Mill Site 07/09/15 - Self-Help Credit Union Announces Education Scholarships Winners 06/11/15 - Renaissance Shops Groundbreaking Tuesday, June 16 at 10:30 am 04/09/15 - Durham Co-op Market Ribbon Cutting at 2pm Saturday 03/17/15 - Grocers on Wheels, Self-Help Credit Union Borrower, in Durham Today! 02/13/15 - Self-Help Credit Union Hosting New Economy Conference on March 18th About Self-Help Self-Help is a leading national community development financial institution headquartered in Durham, NC. Since 1980, Self-Help has provided over $8.5 billion in financing to 150,000 families, individuals and businesses. It helps drive economic development and strengthen communities by providing responsible financial services; lending to individuals, small businesses and nonprofits; developing real estate; and promoting fair financial practices across the nation. Through its credit union network, Self-Help serves over 150,000 people in California, Florida, Illinois, North Carolina, South Carolina, Virginia, and Wisconsin. The nonprofit Center for Community Self-Help is the umbrella organization for the Self-Help family of nonprofit organizations, which includes Self-Help Credit Union, Self-Help Federal Credit Union, Self-Help Ventures Fund and the Center for Responsible Lending.