CU 2.0 Podcast Episode 148 Cathi Kim on Capitalizing Your Small Credit Union
by Robert McGarvey
Cathi Kim’s job title at Inclusiv, a trade association for community development credit unions, tells you why you need to listen to her. She’s Director of Inclusiv/Capital which means her focus is on finding ways for community development credit unions, often very small, to bring in new capital, which can come from a range of places – government programs, big credit unions, foundations, the list goes on.
How can the CEO of a small CDCU find out about these capital sources? Probably she/he can’t because there are only so many hours in the day and usually leadership in a CDCU wears many hats and a chunk of time to research funding possibilities just is hard to come by.
That’s why Cathi Kim has to be in your contact list. Here’s how Inclusiv describes her job duties: “Her role includes leading underwriting, market analysis and strategy development, advising on credit union regulations, business planning, and impact design to help credit unions strengthen their double bottom line of financial growth and community impact.”
Understand, too, that Kim believes there’s increasing interest in – and support for – purpose driven institutions and that, definitionally, is what a CDCU is. It’s there to make a difference in its community and, according to Kim, there are many organizations that want to lend a helping hand.
Some have been writing the obituaries for America’s small credit unions. Cathi Kim is about proving those notices are, shall we say, premature. There is plenty of life in front of the nation’s small CDCUs – if they grab the helping hands that are out there.
For a broader view of Inclusiv, listen to CU 2.0 Podcast #15 with Cathie Mahon, CEO of Inclusiv.
Also listen to CU 2.0 Podcast #37 with Cliff Rosenthal, a pioneer in the CDFI world.
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Find out more about CU2.0 and the digital transformation of credit unions here. It’s a journey every credit union needs to take. Pronto.