South Side Community FCU

President’s note

Dear Members:

As your President and CEO, it has been my distinct privilege to serve you and work with you in accomplishing many significant milestones throughout the past and coming year. We established over 2000 member accounts totaling over $3,50,000 in deposits as of 1/1/08, which by far exceeds our first year goals.

We disbursed 123 loans totaling over $212,700. Scores of people have graduated from our 8-week comprehensive financial education course. We launched a youth credit union initiative with approximately 25 young men and women, ages 11-19 to promote savings and financial education among south side youth. Last June we opened the South Side Home Ownership Counseling Center at the credit union where over 210 people have received housing counseling services through our “Road to Home Ownership” program.

In November 2004 we hired an Americorps VISTA volunteer to help develop and implement an Individual Development Account (IDA) program. We were also successful in providing direct deposit services and one-on-one financial counseling to several low-income tax refund recipients through a local volunteer income tax assistance program. We are also proud and encouraged by the many new community partners that have been established through out the year.

Free Checking
Now Available

To open a checking account, members must make an intial deposit of $50, and maintain a $100 balance in their Credit Union savings account. So long as the account remains in good standing, there are no charges or fees for the account.

SSCFCU’s Mission

Our mission is to equalize economic power and to fight poverty by improving financial literacy and providing access to credit and savings services for our members. We are working to create and maintain an accessible, full service federal credit union organization, which is owned and managed by its members.

Our Service Area

Our geographic service area includes all areas lying within the following boundaries: from 22nd Street on the North to the city limits on the South and from Lake Michigan on the East to Western Avenue on the West. If you live, work, worship, go to school or participate in any association headquartered within these boundaries, you are eligible to become a full member of the credit union. If you do not have one of these connections to the area, you can utilize all deposit services of the credit union, but federal regulations prohibit us from making you a loan.