Please follow the link below and help us reach our new goal of 200 signatures on our petition to Citi!
Golden Valley resident Rose McGee was told that her case was being reviewed for a modification by CitiMortgage. Then, after weeks of unreturned calls, she was finally informed on June 4th that they had sold her home on May 18th. Rose has solid income and money saved up to make a down payment for a modification. We call on CitiMortgage to reverse the sheriff’s sale and issue Rose a new, affordable mortgage!
Northside resident Howard Crutcher has been jumping through hoops for over a year, fighting for a fair modification to stay with his son in the home that he built with his own hands. He is now towards the end of a high cost temporary modification that he was forced to agree to without being told what his permanent modification payments will be. We call on CitiMortgage to give Howard a sustainable, clear, permanent modification now!
NCRC Responsible Banking Campaign
“Our Community, Our Money”
Have you or someone you know faced foreclosure?
Have you or someone you know has faced exorbitant over draft or bank fees?
Have you or someone you know had trouble getting a small business loan?
According to a recent study by the Pew Research center, the median wealth of white households is 20 times that of black households and 18 times that of Latino households. [http://www.startribune.com/nation/126149573.html] Closer to home, between 2000 and 2010 the white home ownership rate in Minnesota remained the same at 77%, while black home ownership declined from 32 to 25%, one of the greatest disparities in the US. Our coalition knows that there have been over 3000 sheriff sales in North Minneapolis since 2008 and hundreds of millions of dollars lost in equity and community wealth. Just imagine what we could have done as a community with this money for our kids, parents, and neighborhoods. Our neighborhoods, our cities, and our metropolitan region cannot thrive if a large and growing number of us are shut out from the mainstream financial system, and prevented from building and sustaining generational wealth.
Meanwhile, the banks that got us into this mess have gotten bailed out and are making it harder for us to recover. The current reality is that we pay taxes to the county. The county then deposits and invests those funds with banks. Banks are failing to reinvest this money equitably back into our communities and are not significantly modifying loans to prevent foreclosures, even though lenders have targeted minority communities with high cost loans.
Our goal is for Hennepin County to pass a resolution requiring banks to disclose their lending practices in order to continue receiving public deposits and investments. This would create a powerful incentive for the biggest banks to improve their track records when it comes to foreclosure prevention and small business lending in our community.
The campaign would require banks to provide data on their lending practices each year, and would create a joint community/government committee to review the data and divest public deposits and investments from
consistently under-performing banks.
A few years ago, San Jose passed a similar ordinance. LA is currently working on the campaign. Philadephia and Cleveland passed a version of the resolution in the 90’s.
We will be continuing to meet with county commissioners, build our base in key districts, and change the public conversation about bank accountability. For this to work, we need you to help us frame our vision, and we need you to talk to your families and neighbors to get them involved.
NCRC Office: 612-877-4193
2100 Plymouth Ave N (Minneapolis Urban League)
“Like” us on facebook: www.facebook.com/NCRC
NCRC Financial Justice Community Engagement Survey: http://www.surveymonkey.com/s/HCWV7WG
Join us as we launch our new responsible banking campaign this Tuesday, July 26th from 6pm-8pm at the Minneapolis Urban League (2100 Plymouth Ave N) with special guests Rev. Dwight Seawood, Fellowship Missionary Baptist Church, and Scott Gray, CEO, Minneapolis Urban League.
What does financial Justice look like for North Minneapolis?
How are banks helping and hurting out community?
What is NCRC doing to hold banks accountable?
For more information or to RSVP, please call 612-877-4193 or email NCRCMpls@gmail.com
WHO IS THE NORTHSIDE COMMUNITY REINVESTMENT COALITION?
We are a coalition of neighborhood, religious, ethnic and community organizations based in north Minneapolis and the broader Twin Cities metro area. We believe that genuine solutions to the immediate foreclosure crisis must also address the long-term crisis of fair access to credit and financial discrimination. In order to achieve those solutions, we will build a coalition that genuinely engages thousands of residents of the Northside as stewards of their own community wealth and advocates for their own future.
WHAT IS OUR MESSAGE TO THE PUBLIC?
We’ve knocked on hundreds of doors and helped dozens of residents; we’ve been through foreclosure, job loss and health crises ourselves; we’ve looked after our families, congregations and neighbors and we’ve seen them go through the same struggles. We are leaders at the grassroots. We know what recession feels like, and we know what recovery needs to look like, in north Minneapolis and throughout the Twin Cities. We will continue to reach out and connect our neighbors with resources and opportunities to avoid foreclosure, and protect and build our assets and community wealth. We want financial institutions that serve the Twin Cities to negotiate fair lending commitments with us that make business sense, and benefit our communities.
MN State Baptist Convention (MNSBC), Minneapolis Urban League (MUL), Hawthorne Neighborhood Council (HNC), Lao Assistance Center of Minnesota (LACM), Hmong American Partnership (HAP), Jordan Area Community Council (JACC), Harrison Neighborhood Association (HNA), Northside Residents Redevelopment Council (NRRC), Jewish Community Action (JCA).
*Community Wealth Day*
March 9th 1:00pm-7:00pm
Minneapolis Urban League
2100 Plymouth Ave N.
- Meet with a free foreclosure prevention counselor
- Access tenants’ rights, health care and other resources
- Meet the Northside Community Reinvestment Coalition
- Take action to protect & build community wealth!
- RSVP at 612-877-4193 for appointments & free childcare
- Free refreshments
For more information or to RSVP for the Community Wealth Day, please call 612-877-4193 or email NCRCMpls@gmail.com.
Northside Community Reinvestment Coalition members: MN State Baptist Convention (MNSBC), Minneapolis Urban League (MUL), Hawthorne Neighborhood Council (HNC), Lao Assistance Center of Minnesota (LACM), Hmong American Partnership (HAP), Jordan Area Community Council (JACC), Harrison Neighborhood Association (HNA), Northside Residents Redevelopment Council (NRRC), Jewish Community Action (JCA).