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The Self-Help Credit Union Revolutionized How Big Banks Saw Low-Income Savers

WUNC | By Laura Pellicer,
Frank Stasio
Published November 28, 2017 at 12:18 PM EST
Howard Covington's book explores how policies spurred by Self-Help were able to help North Carolina evade the worst of the housing bubble collapse and how the credit union has transformed North Carolina communities
Courtesy of Howard Covington
Howard Covington's book explores how policies spurred by Self-Help were able to help North Carolina evade the worst of the housing bubble collapse and how the credit union has transformed North Carolina communities
Howard Covington's book explores how policies spurred by Self-Help were able to help North Carolina evade the worst of the housing bubble collapse and how the credit union has transformed North Carolina communities
Credit Courtesy of Howard Covington
Howard Covington's book explores how policies spurred by Self-Help were able to help North Carolina evade the worst of the housing bubble collapse and how the credit union has transformed North Carolina communities

When founders Martin Eakes and Bonnie Wright started the Center for Community Self-Help in 1980, they did so with the fundamental belief that low and middle-income homeowners and small business owners would not only be a safe investment, but also a profitable one. 

A conversation with author Howard E. Covington Jr. about his new book 'Lending Power: How Self-Help Credit Union Turned Small-Time Loans Into Big-Time Change'.

By offering long-term loans free from predatory traps, they created a system where return on investment was reliable and where Self-Help was able to quickly and steadily invest back into North Carolina communities.

Host Frank Stasio speaks with writer Howard E. Covington Jr. whose new book “Lending Power: How Self-Help Credit Union Turned Small-Time Loans Into Big-Time Change” (Duke University Press/ 2017) explores how policies spurred by Self-Help prevented some in North Carolina evade the worst of the housing bubble collapse.

Copyright 2017 North Carolina Public Radio
Laura Pellicer
Laura Pellicer is a producer with The State of Things (hyperlink), a show that explores North Carolina through conversation. Laura was born and raised in Montreal, Quebec, a city she considers arrestingly beautiful, if not a little dysfunctional. She worked as a researcher for CBC Montreal and also contributed to their programming as an investigative journalist, social media reporter, and special projects planner. Her work has been nominated for two Canadian RTDNA Awards. Laura loves looking into how cities work, pursuing stories about indigenous rights, and finding fresh voices to share with listeners. Laura is enamored with her new home in North Carolina—notably the lush forests, and the waves where she plans on moonlighting as a mediocre surfer.
See stories by Laura Pellicer
Frank Stasio
Longtime NPR correspondent Frank Stasio was named permanent host of The State of Things in June 2006. A native of Buffalo, Frank has been in radio since the age of 19. He began his public radio career at WOI in Ames, Iowa, where he was a magazine show anchor and the station's News Director.
See stories by Frank Stasio