CURE Minority Depository Institution Preservation Program Research

OMB No. 3133-0188

To:
From:
Re:
Date:

Pamela Williams, NCUA
Elaine Golden & Brenton Peck, Financial Health Network
Questionnaire for Interviewees
March 22, 2022

1. Team introductions
Project Introduction
The NCUA’s Office of Credit Union Resources and Expansion (CURE), which
administers the agency’s Minority Depository Institution (MDI) Preservation Program, supports
the growth of all credit unions, with a particular focus on low-income-designated credit unions
and minority institutions.
Financial Health Network has been contracted by the NCUA to conduct in-depth analysis of
MDIs, in addition to seeking input from industry experts. Specifically, we seek your guidance in:
● Outlining systemic and practical barriers facing MDIs;
● Discussing products and services that are (or should be) provided by MDIs to improve
their financial performance; and
● Defining ways MDIs can collaborate amongst each other.
Your input to this important work will be compiled alongside others’, in a final assessment report
presented to the NCUA later this year.
2. Any questions before we begin?
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Outlining systemic and
practical barriers facing
MDIs

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What are some of the barriers to member and asset
growth MDIs are facing? Are these specific to MDIs or
credit unions in general? What are the opportunities for
growth?
From your perspective, how are MDIs (and, if relevant,
your MDI specifically) coping with the changing
competitive landscape in the communities they serve?
What are some of the main challenges MDIs face while
working in historically underserved communities?
Do MDIs tend to have high market share in the
communities served? If not the MDI, what institution?

OMB No. 3133-0188

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Discussing products and
services

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Defining ways MDIs can
collaborate

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Additional Questions to
Explore if Time
Permitting / Applicable to
the Credit Union

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What are some of the highly sought products and services
provided by MDIs?
How have products and services offered at MDIs (and, if
relevant, your MDI specifically) adapted to the changing
landscape?
Do you have any examples of innovative credit unions that
adapted their offerings in a way that improved their
financial performance?
What are the products and services offered today at MDIs
that derive the most value to the credit union?
How do community members – generally speaking – learn
about the offerings provided at MDIs? How could this be
improved?
Who at MDIs (and, if relevant, your MDI specifically)
keeps a pulse on the needs of the community? How often
is the community engaged in discussions with the MDI?
(i.e., roundtables, surveys, etc.)
What resources are MDIs (and, if relevant, your MDI
specifically) utilizing to identify and define their market
niche? (national or local)
What institutions do MDIs (and, if relevant, your MDI
specifically) consider their main competitors?
What are some of the main costs incurred at MDIs that
hinder their ability to grow?
How does the community and its members view the
importance of MDIs?
How can MDIs work together to gain economies of scale?
(shared support)
What can the NCUA be doing to help improve the
performance of MDIs?
Could you share more about how you, the team, and
external stakeholders prioritize strategic decisions at your
credit union?
What has made your credit union’s model successful?
What is the level of engagement of your credit union’s
volunteers, including the board and the supervisory
committee?

OMB No. 3133-0188

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What challenges are at the top of mind for your credit
union?
What types of connections would you want to build
between your credit union peers and others? What type of
programming would be most valuable to you?

3. If MDIs had unlimited time and resources, what would they do to improve their financial
performance?
4. Do you have any final thoughts we did not get to regarding this project?
Thank you!