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Franciscans in Action
June 2008 e-newsletter
Seeing the Human Factor in the World of Finance
In these uncertain economic times, millions of hardworking people find themselves under pressure to make ends meet. Some of these people live on the Northside of Syracuse, New York. With a scarcity of jobs and general investment, life on the Northside can often get desperate. The Franciscan Collaborative Ministries (FCM) have been part of the Northside of Syracuse for many years, providing food to the hungry, medical care to the sick, and counseling to the troubled. Now, the Syracuse Cooperative Federal Credit Union (SCFCU) joins the FCM in the Assisi Center on North Salina Street.
The SCFCU is a different type of financial institution. It functions exclusively in Syracuse with the purpose of bringing its constituency onto sounder financial footing. Residents affected by the subprime mortgage crisis are encouraged to call the SCFCU for help. The SCFCU also promotes responsible home ownership in Syracuse. Its Volunteer Income Tax Assistance Program, workforce development program, as well as General Equivalency Diploma courses all serve the purpose of creating a more educated and empowered people. Carefully arranged loans from the SCFCU to people who would normally be unable to secure such money will inject much needed investment into the Northside. Theoretically, the greater availability of funds in the community should spur fresh economic activity and bring residents out of poverty.
The Syracuse Cooperative Federal Credit Union exists to help people
The location of the SCFCU in the Assisi Center creates a far less intimidating environment for residents to come in and discuss their finances. The SCFCU truly serves its patrons who are called members, an important term that signifies an equal relationship instead of a top-down approach. Surely, St. Francis would approve.
We encourage you our readers to send in stories where you see the spirit of St. Francis at work in the world. Email your stories to Peter Rajchert at peter@franciscans.org.
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