P.O. BOX 42227
PHILADELPHIA, PA 19101
The Tree of Life -
New Jubilee Harvest -
Ownership Changes BehaviorÔ
COMMUNITY DEVELOPMENT CREDIT UNION BRIEFING PROSPECTUS
(PEOPLE EMPOWERMENT THROUGH FINANCIAL LITERACY & CREDIT ACCESS VIA PERSONAL COMPUTER SECURED TELECOMMUNICATIONS)
HISTORY:
The People Empowerment Zone Community Development Federal Credit Union doing business as (d.b.a.) the People Empowerment Credit Union (PECUÔ) was originated and conceived by Jasper Jones. Mr. Jones became the founding lead subscriber for PECUÔ after an informal survey of Empowerment Zone (EZ) residents confirmed support and the need for the creation of a community development credit union. Mr. Jones is a graduate of the University of Pennsylvania - Wharton School specializing in: computer assisted instruction, artificial intelligence technology and finance for more than twenty-five (25) years. Mr. Jones is responsible for strategic planning and technology infrastructure development for the credit union. James H. Royal an EZ resident community activist is responsible for managing the Community Rebirth Organization Plan (CROPÔ) - Action Team®credit union pledge outreach program. Mr. Royal is also a key founding subscriber of the credit union. Mr. Jones and Mr. Royal have combined their program resources and talents to develop a financial literacy and educational credentialization program for "individual credit worthiness advancement" that utilizes a wholistic approach to rectifying the myriad of financial support issues facing our People today. Other Founding Subscribers are Al Alston African American Business and Resident Association; and others. The People Empowerment Credit Union was born in the Philadelphia - Empowerment Zone as a result of those efforts.
MISSION:
PECU's' primary mission is to prepare members to be Credit Worthy enough to access capital credit and become Financially-Literate by-doing, while also preparing them to participate in the computer age of banking commerce, via learning by doing programs of financial asset development. Program elements used to accomplish the primary mission include:
->an alliance partnership with the American Academy of Distance Education and Training (AADET) recognizes the financial support innovation for our disadvantaged citizens and will support the Individual Development Account Trust Agreement (IDATAÔ) Program of the CROPÔ Action Team and agrees to contribute $25.00 per college credit hour processed though AADET. This Money is to be given to the CROPÔ Empowerment Credit Union Program. Further, Grant contributions will also be made available for enhancement of the Human Development Services of the CROPÔ - Action Team® Program.
-> an alliance membership with the National Federation of Community Development Credit Unions (NFCDCU) provides charter sponsorship to the National Credit Union Administration, technical assistance, capital finance assistance and member financial literacy training programs.
-> an alliance partnership with a to be determined Neighborhood Savings and Loan for member mortgage loan syndication tied to Neighborhood Saving and Loan Bank's Community Development Financial Institutions (CDFI) status, through a Federal Treasury Department CDFI institutional development program, providing support for an Internet Personal Computer Banking Transaction Infrastructure for the Credit Union.
-> an alliance partnership with School District of Philadelphia, Community College of Philadelphia and Penn State University provides the "corporate welfare reform institutional guardian infrastructure" for the development of members (individual development account trust agreements - [IDATAÔ’s]) that provides immediate support for custom computer age job related training and business start-up capitalization opportunities as well as training-to-work, welfare-to-work, prison-to-work, military-to-work, homeless-to-home-to-work, and school-to-career transition bridges with living stipends during the training-to-work period.
PECUs' central philosophy is that all of its low income members can become "Credit Worthy, and Financially Literate". PECU's aim is to provide the support infrastructure needed by members through network alliances to achieve: Credit Worthiness, Financial Literacy, Personal Computer Banking Transaction Literacy, and vocational related education credentials required for employment and/or to qualify for business start-up finance loans. PECUÔ operates through financial marketing alliance agreements to provide project loan syndication for its member clients.
PECU OPERATIONAL PROCEDURES:
The proposed operation of our venture is unique in that we are establishing an Empowerment Zone computer internet transaction (i.e. Personal Computer Banking) based community development credit union that builds the capacity of residents to participate in accessing other Community Development Financial Institutions (CDFI's) by building an entry level CDFI, the People Empowerment Credit Union (PECU). The venture's Community Rebirth Organization Plan (CROPÔ) - Action Team®training collaborative partners (Penn State University and the Allied Trades and Building Construction Conservation and Craft's - Omni-community (OCS) CHARTER SCHOOL - CAMPUS OF DISTANCE LEARNERS Charter School) are working together to provide distance learning services so that program participants may acquire certifications in their areas of work interest. The Credit Union's Pledge Collection Strategy employs training in technology literacy and introduction to the use of the computer in money management. The Credit Union Pledge Collection Strategy is part of the Allied Trades and Building Construction Conservation and Craft's Computers For Youth and Family: Earn a Computer Project of the that features basic computer technology literacy training and software training exercises on all the mathematics skills required to earn a GED (General Equivalency Diploma). The credit union is slated to employ learning by doing financial literacy programs created by the National Federation of Community Development Credit Unions and the Center for Economic and Social Justice (CESJ). CESJ is the organization responsible for the creation of the legal technology that created employee stock ownership plans (ESOP's) in our society.
Each member receives "Financial Literacy Training" and computer assisted instruction coupled with an integration of a wealth development needs assessment to an innovative citizen financial support program (individual development account trust agreements - [IDATAÔ’s]) that provide immediate support for custom computer age job related training and business start-up capitalization opportunities as training-to-work, welfare-to-work, prison-to-work, military-to-work, and school-to-career bridges with living stipends during the training-to-work period. PECUÔ conducts learning-by-doing financial literacy/ student - family programs and involvement with action groups formed to address economic - education issues and concerns raised in town type meetings. Issues such as the state of our Public Schools and Elderly!
The (individual development
account trust agreements - [IDATAÔ’s])
program working in concert with the other Community Rebirth Organization
Plan (CROPÔ)
- Action Team® Member Institution Programs
will build a bridge via our public schools that transforms our schools
to community family job life instruction centers! Community family job
life instruction centers that by working with PECUÔ
make our people Financially-Literate by-doing!
FIELD OF MEMBERSHIP - QUALIFICATIONS TO JOIN
We are organizing the
People Empowerment Credit Union (PECU) as a community development credit
union, with a field of membership defined to be residents of the Philadelphia
Empowerment Zone (EZ) - Enterprise Communities (EC) and residents in neighborhoods
that adjoin the EZ - EC, that have the same demographic profile. Any person
who resides or works in the field of membership area is qualified to join
PECUÔ.
AFFILIATIONS:
National Federation of
Community Development Credit Unions (NFCDCU), Community Rebirth
Organization Plan (CROPÔ)
-Action Team®, The Omni-community (OCS) CHARTER SCHOOL
- CAMPUS OF DISTANCE LEARNERS, AADET (American Academy of Distance Education
& Training), Allied Trades & Building Construction Conservation
Crafts Association, Penn State University, The School District of Philadelphia,
Community College of Philadelphia, Filawerx Insurance Academy, the Center
for Economic and Social Justice (CESJ), Breadbox - NewDeal Green-PCÔ
Team. To be determined Savings Bank, and major commercial bank are the
credit union's co-sponsoring commercial banks.
The purpose of the PECU is individual wealth advancement and since you cannot have wealth without health - This means that PECU must also be involved in health improvement which means addressing diet issues .
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FOLLOW-UP:
Mr. Jasper Jones, Mr. James H. Royal - Call: (267) 237-5064, or Al Alston at 215-769-3333 - Email Address: phillycu1@yahoo.com. Write: The People Empowerment Credit Union (PECUÔ), P.O. Box 42227, Philadelphia, PA 19101-2227. Copyright ©2004 PECUÔ.
