Self-Help: 

Creating Ownership and Economic Opportunity Across NC

 

Frequently Asked Questions:

 

Q:  What is Self-Help?

A:  Self-Help is a community development financial institution (CDFI), and is one of the largest CDFIs in the United States.  Since its founding in 1980, Self-Help has provided $4.5 billion in financing to 45,000 homeowners, small business owners, and other nonprofits nationwide.  Headquartered in Durham, Self-Help operates branch offices in seven North Carolina cities, as well as one office in Washington, D.C., that conduct mortgage and small business lending.  Self-Help also operates three full-service credit unions in eastern North Carolina to provide consumer loan products and services to mostly rural manufacturing communities.  

 

Q:  What is Self-Help’s mission?

A:  Self-Help’s mission is to create and protect ownership and economic opportunity for minorities, women, rural residents, and low-wealth families and communities.

 

Q:  Is Self-Help a bank?

A:  Self-Help is not a bank.  Self-Help is a 501(c)(3) nonprofit community development financial institution that includes a credit union.  Self-Help Credit Union raises market-rate deposits from members to make commercial and home loans to members.  Its members include nonprofit and religious organizations and other socially responsible individuals and institutions.

 

Q:  What is available at Self-Help?

A:   Self-Help offers deposit accounts and small business and mortgage lending services through Self-Help Credit Union.  Self-Help also offers commercial and residential real estate development through its community development corporation.  Deposit accounts include savings, money market, CD, and indi- vidual retirement accounts.  Self-Help’s lending includes loans for small business development and home purchases.  Self-Help’s community development corporation builds and sells affordable housing to first-time homebuyers and develops and leases commercial property to encourage downtown revitalization in cities across North Carolina. 

 

(from Self-Help, “Frequently Asked Questions,” www.self-help.org/about-us/frequently-asked-questions)