Borinquen Federal Credit Union : "an experiential view for survival"

Abstract

As stated in the thesis project, "This project was chosen because of the need within the Puerto Rican/Latino community to have a strong community based financial institution and our responsibility as part of the board and staff to make that a reality. Since the environment for financial institutions as an industry is becoming very difficult in the 90's and for community based financial institution even more difficult, we considered to be very important the documentation of our experience in struggling to maintain a community based financial institution in our community.

This paper presents an experiential view for survival of a community development credit union. The information provided in this project is a collective of the last four years of operations (1986-1990). It also provides information on the dos and don't when saving and developing a financial institution. This includes relevant background history of the surrounding community, demographics, tips for surpassing liquidation, tips for survival, financial information and mechanisms of reconstruction for growth and development.

The ultimate goal of this document is to provide the reader with a set of tools that raise questions on operation procedures, organizational structure and the development of goals and objectives for the survival and growth of a neighborhood financial institution.

Although the information provided is related to a financial institution (credit union), some of this information is applicable to any community based organization confronting similar difficulties." (Library-derived description)