The mission of the South Side Community Economic Development Center is to build community capacity through a holistic and cooperative approach to financial education and economic development.
The South Side Community Economic Development Center (“The Center” or “SSCEDC”) was organized in 2006 as a 501(c)3 nonprofit organization exclusively for charitable, educational and scientific purposes. It was established to advance community economic development on Chicago’s south side. The Center’s specific purposes are:
• To research the financial, economic and educational needs of low income individuals, families and organizations;
• To design, develop and/or facilitate services, programs and/or products that alleviate poverty;
• To provide financial education, counseling and training to low income individuals and families with a particular focus on activities that:
1. Increase basic financial literacy among residents
2. Aid in the formation and maintenance of local micro-enterprises, small businesses and community organizations;
3. Offer home ownership education programming and counseling to low-and moderate income individuals seeking to purchase and/or maintain a home;
4. Help to develop other assets, investments and ownership opportunities for LMI individuals.
5. Engage and strengthen other community economic development organizations through partnerships, networking, training, technical assistance, access to capital, urban planning and public policy.
South Side Community Economic Development Center
“Building Community Capacity through Partnerships”
5401 S Wentworth Street, Suite 25, Chicago, IL 60609
Phone: (773) 548-8859 Fax: (773) 548-5533
Home Counseling Services
HOME BUYER EDUCATION PROGRAM
Receive eight hours of classroom and 2 hours of one-on-one counseling. Our Home Buyer Education Program covers all aspects of the home buying process from A to Z, such as selecting, financing, and closing on your first home. Participants become more confident and successful with making important personal and financial decisions about homeownership. Each participant will receive a certified Home Buyer’s Certificate upon completion of the program.
ONLINE HOME BUYER EDUCATION
While taking a homebuyer education course in a classroom setting is ideal, for some it is not feasible due to the availability of courses, their work schedule, or many other reasons. Online home buyer education is a great option. You go at your own pace and complete the course when it fits nicely into your busy schedule from the comfort of your own home.
South Side Community Federal Credit Union has partnered with eHome America to help future homebuyers access a high-quality homebuyer education course online. A Home Buyer’s Certificate is issued upon completion of the course and a one-on-one counseling session.
FINANCIAL COUNSELING SERVICE
The primary goal of South Side Community Federal Credit Union is to help individuals achieve financial stability and well-being. We recognize that from time to time everyone runs into some financial difficulties. South Side Community Federal Credit Union is here to help you develop a plan for future financial success with our Financial Counseling Service.
- Examination of your household income and expenses.
- Establishment of a workable, realistic budget & Savings Plan.
- Review of your credit record to resolve and improve your credit score.
- Recommendation of products and services that can help you save money and build credit.
Call (773) 548-8859 for more details and to schedule an appointment
South Side Community Federal Credit Union is a HUD Approved Housing Counseling Agency
Second Chance Checking Account Program
Everyone deserves a Second Chance.
If you have a record on ChexSystems, South Side Community Federal Credit Union can help you clear up that record and get you off to a fresh new start.
You can save money, build credit and open a new free checking account!
5 Simple Steps to a Fresh New Checking Account Start
1. First open a savings/share account for a minimum of $130.00 and fill out a second chance checking account program application.
This will cover the $10.00 one-time only membership fee, a $20.00 non-refundable loan application fee, and a $50.00 one-on-one checking account management counseling fee. A share/savings account balance of $50.00 will be maintained for the duration of the program. SSCFCU will then reference ChexSytems to ascertain your record.
You are eligible to participate in the Second Chance Checking Account program as long as you have not been reported for suspected fraudulent activity.
2. SSCFCU will pay-off up to 3 ChexSystems records for an aggregate total not to exceed $1,000.00 by issuing you a short term low interest rate loan.
3. If the loan is approved, then you will be advised to schedule a one-on-one checking account management counseling session with one of our certified financial counselors. If denied, then you will not have to pay the counseling fee.
4. Once you have completed your counseling session, then you will be given the loan disbursement check(s) that will be made payable to the bank(s) on your ChexSystems record in the amounts required to clear them up.
5. After your record has either been removed from ChexSystems or the bank(s) provide you with a letter stating that you have paid off your debt with them in full, you will then be eligible to open a new checking account at SSCFCU.