Rosario Figueroa and Diane Taveras, The Brooklyn Cooperative Federal Credit Union

When I stopped in to the Credit Union on Tuesday, Rosario and Diane were finishing the tedious yet very necessary task of assembling the monthly membership statements. Stuffing envelopes is not the most glamorous intern activity, but one that is crucial to a small organization such as the Brooklyn Cooperative Federal Credit Union. In addition to helping with mailings, Rosario and Diane have been assisting their mentor Bartley in everyday clerical tasks such as filing member documents and updating member databases.

The interns have also been working on several ongoing projects, which provide them a more in depth perspective on the inter-workings of this small community based lending institution. The first project involves compiling a loan tracking database, which will be used to assist in determining trends in loan repayment. By entering member data into the system, the interns have a learned a great deal about the process of granting and tracking loans for both small businesses and individual members. Rosario and Diane have also been able to help out in translating credit union documents for Spanish speaking members.

Another exciting prospect that we discussed on Tuesday was the idea of setting up an ongoing public survey project for the interns. Specifically, they would conduct surveys in and around local check cashing stores to determine characteristics of the local “unbanked” population. The survey would ask about banking history, provide information about the credit union’s services, and possibly offer incentives to join.

Using the community connections of the credit union and its mission of local economic development, the interns are well supported in their research and creative projects. Diane and especially Rosario are benefiting greatly from their exposure to an array of technical skills and professional competencies. As a result of this experience, they will be well equipped to pursue a career in the world of finance, accounting, and community banking.