Traditional banks are good at traditional loans, but sometimes they struggle to understand “outside the box” situations. Unfortunately, “outside the box” is a phrase that is often used to describe both non-profits and renewable energy solutions.
Melissa Malkin-Weber is the sustainability director at Self Help Credit Union, a lending institution that understands that sometimes you must think “outside the box” in order to make a difference. We are thrilled to feature Melissa at our nonprofit event on March 20: Non-Profit Sustainability: Raise money, Save money, Make a Difference. Reserve your spot today!
We spoke with Mrs. Malkin-Weber to find out more about Self Help Credit Union and their mission.
A Lender That Takes Time to Understand the Details
Self Help really understands nonprofit cash flow in a way that banks don’t. Churches and houses of worship have lumpy revenue with lots of seasonal donations that make up for slower times of years. This is difficult for large banks that are accustomed to more traditional cash flow. Self Help’s approach can also help businesses and nonprofits that are working to revitalize communities. Traditional banks are reluctant to approve loans that have properties in distressed neighborhoods for collateral. Those are exactly the kinds of projects that align with Self Help’s mission statement.
We encountered Self Help while working on rooftop solar projects in North Carolina. In our interactions, it was evident that they understood the savings and revenue that rooftop solar can generate for both nonprofits and businesses. They are willing to look at each set of circumstances as a unique situation rather than taking a cookie cutter approach.
Self Help’s mission statement describes a commitment to sustainable practices, but it also talks about a commitment to serving groups that have often been excluded from lending in the past. They are working every day to make sure that minority and woman owned businesses have access to the capital that they need in order to compete on a level playing field.
A Green Organization
Self Help Credit Union has worked to reduce their carbon footprint across all operations. Prior to working at Self Help, Mrs. Malkin-Weber worked for Advanced Energy running the Group that focused on residential energy efficiency and indoor air quality. She has leveraged this experience to help both the credit union and their customers accomplish sustainability goals. With Executive Order 80, this is becoming increasingly important for all kinds of institutions in North Carolina.
There are many kinds of institutions making a real contribution to North Carolina’s nonprofit community and the sustainability movement. Melissa Malkin-Weber and Self Help Credit Union are a great example of the kinds of companies that are doing their part. We are thrilled to feature Mrs. Malkin Weber next week at our event: “Non-Profit Sustainability: Raise money, Save money, Make a Difference”.