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Dear Colleague:
 
The Alternatives Federal Credit Union is interested in learning about the
creative lending
programs offered by your organization.  We are a community development
credit union in Ithaca,
N.Y.  We provide banking services to our members with the aim of making our
community
financially self-reliant.  We are looking for ways in which we can use new
and innovative lending
programs to better serve our community.
 
We are especially interested in any programs you may offer which serve
groups that have
historically not had access to banking services and are not currently being
served by local banks.
We would like to hear about your unique mortgage, consumer and business
lending programs,
with details on how the programs work, how they are funded and how
successful they have been.
 
We greatly appreciate your taking the time to fill out the attached survey
to share with us your
current activities and your ideas for the future.  We will be happy to
forward to you a copy of the
survey results.  We have sent the survey to over 200 organizations and we
expect that the results
will provide suggestions which will be valuable to your organization.  We
will not release your
name or address with the survey results.
 
Thank you for your time.
                                        Sincerely,
                                        Carol Chernikoff
                                        Reed Singer
 
                                                 Creative Lending Survey.
 
1. Does your organization serve an urban or rural area?
     ____Urban    ____Rural
 
2. What is the structure of your organization?
     ____ Credit Union
     ____ Community Development Credit Union
     ____ Bank
     ____ Investment Fund
     ____ Loan Fund
     ____ Community/Local Development Corporation
     ____ Other, please specify: ___________________________________
 
3. What is the amount of your organization's assets? $_______________
 
4. What is the amount of your organization's loan portfolio? $______________
 
5. How many account holders does your organization have? _______________
     How many depositors?________________
     How many investors?  ________________
     How many grantors?   ________________
 
6. Do you offer targeted loans?
     ____Yes    ____No
 
7. If yes, what populations do your loan programs target? (Check ALL that apply)
     ____ Low/moderate income individuals    ____ Students
     ____ Women                         ____ Prison inmates
     ____ Single-parent families             ____ Specific geographic locations
     ____ Gays, lesbians and bisexuals       ____ Self-employed
     ____ Minorities                    ____ Small business owners
     ____ Other, please specify:
_________________________________________________
 
8. In what areas do you offer targeted loan programs? (Check ALL that apply)
     ____ Affordable housing            ____ Property rehabilitation
     ____ Home ownership           ____ Energy efficiency
     ____ Multi family housing               ____ Small business
     ____ Mutual housing                ____ Coops
     ____ Non-standard construction          ____ Consumer finance
     ____ Other, please
specify:__________________________________________________
 
 
We are interested in learning more about the loan programs you indicated in
the previous
questions.  Please use _a_separate_sheet_for_each_loan_program.  Feel free
to attach any
literature or fact sheets which you may have about this program.
 
9. Name of Loan Program ________________________________________________________
    Targeted
Population___________________________________________________________
 
a. How do you fund this loan program?
     ____Assets    ____Grants     ____Profit    ____Revolving loan funds
     ____Loan packaging    ____Affinity deposits    ____Low cost deposits
     ____Participation    ____Secondary market
     ____Other, please
specify:__________________________________________________
 
b. How do you price this loan program?
     ____Market    ____Interest subsidy    ____Lower closing costs
     ____Borrower subsidies    ____Institution subsidies    ____Targeted
discounts
     ____Other, please
specify:__________________________________________________
 
c. What other organizations are involved in providing this loan program?
     ____City    ____State    ____Federal Government    ____SBA
____Foundation
     ____HUD    ____Unions    ____Churches    ____Social Investors
____Insurance Co.
     ____Other, please
specify:__________________________________________________
     ____None/not applicable
 
d. What are the non-standard underwriting standards for this loan program?
     ____Small size loans    ____ Low equity    ____Debt ratios
____Credit history
     ____Collateral    ____Repair reserves    ____Job changes
     ____Other, please
specify:__________________________________________________
     ____None/not applicable
 
e. What techniques do you use to market this program to its targeted population?
     ____Print advertising    ____Radio/TV advertising    ____Direct mail
     ____Word-of-mouth    ____Educational programs    ____Community outreach
     ____Other, please
specify:__________________________________________________
     ____None/not applicable
 
f. What borrower education programs do you offer which relate to this loan
program?
     ____Handouts    ____Seminars    ____Clubs/support groups
     ____Training programs    ____Individual counseling
     ____Other, please
specify:__________________________________________________
     ____None/not applicable
 
10. Would you like a copy of the survey results? ____Yes   ____No
 
The following information is optional:
Name_________________________________________________________________________
Organization___________________________________________________________________
Address_______________________________________________________________________
______________________________________________________________________________
Phone_________________ Fax __________________ E-mail ___________________________
 
Thank you for your time.  Please return the survey in the enclosed
postage-paid envelope to:
     Alternatives Federal Credit Union
     301 West State Street
     Ithaca, NY 14850
     Phone: (607) 273-4666
     Fax: (607) 277-6391
 
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