Newsflash Mar. 7, 2013
March 7, 2013
The Suffolk County Alumni Chapter of Phi Beta Sigma Fraternity is hosting its Annual Tribute to Black Women & Sapphire Awards Ceremony honoring three women dedicated to uplifting others in their communities. The fraternity will present Sapphire Awards to Dr. Nteri Nelson, an adjunct professor at UMass Boston; Teri Williams, president of OneUnited Bank; and Cindy Diggs, founder of Peace Boston. Phi Beta Sigma was founded at Howard University in 1914 by three African-American male students and now consists of over 200,000 members with 700 chapters in the US, Africa, Europe, Asia, and the Caribbean. Its Sapphire Award is the chapter’s highest honor given to non-members in the areas of education, business, and social action.
Charles Street AME Cash Transfers Subject of Bank Hearing
Bay State Banner
Two years ago, the Lilly Foundation awarded Charles Street AME a four-year grant of $875,000 to train young pastors. Its pastor in residency program was expected to be the sole beneficiary of the Lilly grant. It wasn’t, according to both Rev. Groover, Pastor of Charles Street AME, and Rev. Opal Adams, the woman who kept the financial books and authored Groover’s annual reports. The recent depositions of Groover and Adams came to light this week in a hearing before U.S. bankruptcy Judge Frank Bailey to determine if the church’s latest amended financial statements should be used as a basis to repay its debts, including $5.2 million in outstanding debt to OneUnited Bank, the church’s main creditor and the nation’s largest black-owned bank. Characterizing the recent church financial statements as “inadequate and incomprehensible,” bank attorneys said they demonstrate “a false portrayal of its financial circumstances and purposefully overlooks its obligations.” “In light of the debtor’s duplicity, and given the true state of the debtor’s financial affairs — that is so far as discovery has uncovered it — there is plainly no credible prospect that it can present a plan or reorganization which is fair and equitable, offered in good faith and feasible,” bank attorneys wrote in a recent brief.
When you talk to William Farrow III, president and CEO of Urban Partnership Bank (UPB), the conversation eventually finds its way to the importance of establishing meaningful banking relationships. “How do you change the trajectory of an individual’s or family’s life unless you have some sort of responsible banking relationship?” Farrow asks. “A banking relationship could mean the difference between going to college or not going.” “We have hired and retained experienced financial service professionals with roots in our communities who have a passion for our mission,” Farrow says. “They are putting renewed focus on partnering with key stakeholders to help restore the economic vitality of our urban neighborhoods and transforming them into places where more people will want to go to work, live, and to do business.” He’s hoping that UPB will be that resource that “turns the community from gray to gold” through the relationships established and the generation of community wealth.
D2D is looking for an Innovation Strategist to help design, test, and scale D2D's financial product innovations. As an integral part of the D2D team, the Innovation Strategist will support multiple D2D initiatives. The ideal candidate is self-motivated, hard-working, detail-oriented, and able to work in an entrepreneurial environment, taking ownership of various projects, tasks, and/or ideas simultaneously. The candidate must be dedicated to the larger cause of D2D’s mission of improving the lives of financially vulnerable Americans. The candidate must be willing to take on problems as they arise, recognizing the needs of a small organization. This position will preferably be located in Washington, DC.
Federal Reserve Bank of New York - Economic Education Specialist (NY, NY)
Work as senior member of the Economics Education team in its mission to educate and inform the public about macroeconomics, monetary policy, and the role of the New York Fed and Federal Reserve System through an innovative and integrated set of programs and materials meant for school-based and other settings, including the New York Fed’s museum and tours, online, mobile, and other emerging spaces for engaging tudents, teachers, and the public.
Credit Builders Alliance - Executive Director (Washington, D.C.)
The Credit Builders Alliance (CBA) is seeking an Executive Director to guide the next phase of CBA’s growth. The position offers a unique opportunity to take this successful, innovative nonprofit to another level, tapping new markets, shaping new products and services, and carving a place for discussion and change in the credit building field. Working with a board of directors and seven staff, the new CBA Executive Director will have the chance to bring his or her vision and entrepreneurial approach to the social enterprise spirit of the organization.
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information about other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I Street NW, Suite 201, Washington D.C., 20005 or firstname.lastname@example.org.
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