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    Liotti Makes History

    By Jeremy | July 14, 2007

    John Liotti's been on a quest to innovate economic development solutions for East Palo Alo, a community blighted by poverty yet surrounded by the inconceivable wealth of Silicon Valley. For him, that means, "making people financially independent rather than victims to predatory lending institutions.” This week, his pioneering made history, as three well established credit unions publicly announced their backing of his effort.
    For the first time in state history, three large credit unions are partnering on a major reinvestment project that will contribute to economic stability in East Palo Alto. ... Stanford Federal Credit Union, which serves 44,000 members of the Stanford community with assets of some $640 million, will mentor community leaders and create a framework for proper policies, procedures and financial goals. It has partnered with two other major credit unions ~ Patelco Credit Union in San Francisco and Addison Avenue Federal Credit Union headquartered in Palo Alto ~ to coordinate efforts and build a $10 million asset base for the project.
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    Topics: community development, economics | No Comments »

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