A History of Impact

National Co-op Month is a fitting time for those of us in the cooperative community to highlight the strong stories we have to tell.  We can provide a welcome contrast to the less-than-upbeat financial news prevailing in the media these days.  One of the tales worthy of recounting is how NCB, along with its partners, has succeeded for nearly three decades in helping low- and moderate-income communities throughout the country reach their social and economic objectives.

This is the story of a vision made practical and a promise fulfilled.  It begins exactly 30 years ago when the 95^th Congress passed legislation that gave birth to NCB.  That enabling legislation – the National Consumer Cooperative Bank Act – broke new ground.  The Bank Act called for the creation of a financial entity that would have a special mission.  The new institution would be dedicated to meeting the needs of an underserved and widely misunderstood market – people who join together cooperatively to achieve personal, social and business goals.

NCB was not created to be your typical bank.  We were given a unique charter that guides and informs everything we do.  And our mission is the same today as it was when we welcomed our first customer:  “To support and be an advocate for America’s cooperatives and their members, especially in low-income communities, by providing innovative financial and related services.”

Thirty years ago, the Bank Act also provided for the formation of our non-profit affiliate, NCB Capital Impact.  Like NCB, this sister organization was charged with pursuing a special mission:  “To empower America’s underserved communities by providing innovative lending and expert technical assistance otherwise unavailable to them.”

Armed with these complementary mandates, our two organizations have worked in tandem to help low- and moderate-income communities achieve sustainable economic progress.  The impact we have had has been substantial.

NCB’s story is not alone.  Over the past 30 years, we’ve watched the cooperative structure –progressive, dynamic and endlessly adaptable –show its staying power. The co-op model works for large and small endeavors, for urban and rural needs, because it allows people to do together what they can’t do on their own. 

NCB and cooperatives nationwide, in all industries have had a tremendous impact over the years serving their members and we will continue to serve and have an even greater impact on America for many years to come.

Charles E. Snyder
President and Chief Executive Officer
NCB
Washington, DC