Picture 1 of 1

Stock photo

Lending Power : How Self-Help Credit Union Turned Small-Time Loans into Big-T... - Picture 1 of 1

Lending Power : How Self-Help Credit Union Turned Small-Time Loans into Big-Time Change by Howard E. Covington Jr. (2017, Hardcover)

Great Book Prices Store (339086)

96.6% positive Feedback

Price:

US $54.23

Approximately£40.52

+ $19.99 postage

Estimated delivery Fri, 25 Jul - Mon, 11 Aug

Returns:

14 days return. Buyer pays for return postage. If you use an eBay delivery label, it will be deducted from your refund amount.

Condition:

New

About this product

Product Identifiers

PublisherDuke University Press

ISBN-100822369699

ISBN-139780822369691

eBay Product ID (ePID)236913556

Product Key Features

Book TitleLending Power : How Self-Help Credit Union Turned Small-Time Loans Into Big-Time Change

Number of Pages277 Pages

LanguageEnglish

Publication Year2017

TopicBanks & Banking, United States / State & Local / South (Al, Ar, Fl, Ga, Ky, La, ms, Nc, SC, Tn, VA, WV), Social Activists, Industries / Financial Services, Money & Monetary Policy

IllustratorYes

GenreBiography & Autobiography, Business & Economics, History

AuthorHoward E. Covington Jr.

FormatHardcover

Dimensions

Item Height0.7 in

Item Weight16.2 Oz

Item Length9.2 in

Item Width7.5 in

Additional Product Features

Intended AudienceTrade

LCCN2017-010997

ReviewsThe South's governance and history have long tilted against its working men and women, black and white. Martin Eakes of North Carolina has devoted a life of gritty determination to redressing the balance. As Howard E. Covington Jr. brings to meticulously researched life in Lending Power , Eakes has repeatedly countered past failures with new hope: Self-help housing that went national, alternatives to predatory lending, statehouse advocacy to answer big-money's insistent pressure. Read and be inspired., This would be an important book at any time but it is especially that in a season when outrage blossoms on every corner. It is a great story about how that emotion--in the hands and hearts of good people--can do much good. It provides, in the account of Martin Eakes' work, an appealing example of genius successfully confronting inequity. If Martin had lived in the early days of Christianity, he would have been one of the Apostles, and at times he would have been impatient with Jesus, but the world would have become fairer more quickly., This would be an important book at any time but it is especially that in a season when outrage blossoms on every corner. It is a great story about how that emotion--in the hands and hearts of good people--can do much good. It provides, in the account of Martin Eakes' work, an appealing example of genius successfully confronting inequity. If Martin had lived in the early days of Christianity he would have been one of the Apostles and at times he would have been impatient with Jesus; but the world would have become fairer more quickly., " Lending Power is Howard Covington's uplifting and compelling account of a credit union that champions the underserved.... This is a positive, inspiring look at a socially conscious, soundly managed mission-driven organization." -- Barry Silverstein Foreword Reviews "The book offers important perspectives on the Great Recession mortgage crisis.... Recommended. Upper-division undergraduates through faculty." -- E. C. Erickson Choice "The story not just of the rise of a radical credit union but also of its role in the community that shaped it, which saw it work with churches, civil rights activists, maverick philanthropists and city planners to deliver change. . . . Lively and absorbing...." -- Co-Op News "Howard Covington Jr.'s work provides an interesting and engaging description of Self-Help Credit Union and the CRL. . . . Lending Power clearly provides an excellent example of social entrepreneurship that can provide valuable lessons for anyone working to accomplish a social objective." -- Stephen G. Morrissette Business History Review "Covington's account of an alternative model of banking, credit, and economic empowerment thus suggests both the historical and the political imperatives of excavating the voices who have long occupied the sidelines of debates about the organization of American capitalism. In this regard, Lending Power is an important intervention." -- Alec Hickmott Journal of Southern History, Howard Covington Jr.'s work provides an interesting and engaging description of Self-Help Credit Union and the CRL. . . . Lending Power clearly provides an excellent example of social entrepreneurship that can provide valuable lessons for anyone working to accomplish a social objective., Martin Eakes may not look, talk, or act like any of the titans of the financial industry, but he commands respect and even fear from them. The organization he leads, Self-Help, went from making affordable loans out of a Volkswagen Beetle to running payday lenders out the state and predicting the housing crisis years ahead of time. Howard Covington's book should inspire anyone who wants to advance Dr. King's dream of economic equality for all Americans., The story not just of the rise of a radical credit union but also of its role in the community that shaped it, which saw it work with churches, civil rights activists, maverick philanthropists and city planners to deliver change. . . . Lively and absorbing...., The book offers important perspectives on the Great Recession mortgage crisis.... Recommended. Upper-division undergraduates through faculty., Martin Eakes may not look, talk, or act like any of the titans of the financial industry, but he commands respect and even fear from them. The organization he leads, Self-Help, went from making affordable loans out of a Volkswagen Beetle to running payday lenders out the state and predicting the housing crisis years ahead of time. Howard E. Covington Jr.'s book should inspire anyone who wants to advance Dr. King's dream of economic equality for all Americans., Covington's account of an alternative model of banking, credit, and economic empowerment thus suggests both the historical and the political imperatives of excavating the voices who have long occupied the sidelines of debates about the organization of American capitalism. In this regard, Lending Power is an important intervention., Lending Power is Howard Covington's uplifting and compelling account of a credit union that champions the underserved.... This is a positive, inspiring look at a socially conscious, soundly managed mission-driven organization.

Table Of ContentForeword / Darren Walker vii 1. Self-Help Who? 1 2. A First Step 9 3. A Financial Institution 23 4. Turning Point 37 5. Innovation 49 6. An "Aha" Moment 63 7. "We Did Not Have to Be Geniuses" 71 8. Cy Pres 85 9. "Shit Disturbers" 97 10. A Box of Rattlesnakes 117 11. The Emperor's Naked 131 12. "We're Here Forever" 147 13. Self-Help Federal--A National Institution 159 14. The Mission 175 Final Notes 191 Notes 195 Index 205

SynopsisEstablished by Martin Eakes and Bonnie Wright in North Carolina in 1980, the nonprofit Center for Community Self-Help has grown from an innovative financial institution dedicated to civil rights into the nation's largest home lender to low- and moderate-income borrowers. Self-Help's first capital campaign--a bake sale that raised a meager seventy-seven dollars for a credit union--may not have done much to fulfill the organization's early goals of promoting worker-owned businesses, but it was a crucial first step toward wielding inclusive lending as a weapon for economic justice. In Lending Power journalist and historian Howard E. Covington Jr. narrates the compelling story of Self-Help's founders and coworkers as they built a progressive and community-oriented financial institution. First established to assist workers displaced by closed furniture and textile mills, Self-Help created a credit union that expanded into providing home loans for those on the margins of the financial market, especially people of color and single mothers. Using its own lending record, Self-Help convinced commercial banks to follow suit, extending its influence well beyond North Carolina. In 1999 its efforts led to the first state law against predatory lending. A decade later, as the Great Recession ravaged the nation's economy, its legislative victories helped influence the Dodd-Frank Wall Street Reform and Consumer Protection Act and the formation of the Consumer Financial Protection Bureau. Self-Help also created a federally chartered credit union to expand to California and later to Illinois and Florida, where it assisted ailing community-based credit unions and financial institutions. Throughout its history, Self-Help has never wavered from its mission to use Dr. Martin Luther King Jr.'s vision of justice to extend economic opportunity to the nation's unbanked and underserved citizens. With nearly two billion dollars in assets, Self-Help also shows that such a model for nonprofits can be financially successful while serving the greater good. At a time when calls for economic justice are growing ever louder, Lending Power shows how hard-working and dedicated people can help improve their communities., Lending Power is the compelling story of the nonprofit Center for Community Self-Help, a community-oriented and civil rights-based financial institution that has helped provide loans to those who lacked access to traditional financing while fighting for consumer protection for all Americans.

LC Classification NumberHG2038