When Kim Vermander spearheaded the opening of a branch in one of Detroit's underserved areas, there were concerns about both safety and profitability. However, the potential threats did little to cloud her vision.
"It was a bankrupt neighborhood so poor that it lost its police department," said Vermander, SVP of lending and development at the Detroit-based $30.5 million Communicating Arts Credit Union. "But we went back to our credit union roots [by going there] and it has become our most efficient branch and the one that generates the most revenue."
The CACU branch provided desperately needed economic resources for area residents. The effort also earned the credit union the CU Times 2010 Trailblazer Award for Outstanding Service to the Underserved.
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