National Cooperative Bank
Grocery, housing & purchasing co-ops on spectrum of organizations financed
An independent organic
grocery in San Francisco
makes the transition to
100-percent employee
ownership. An Alaska
native corporation based in Nome
starts a clothing manufacturing business
in Puerto Rico. A New York City
co-op apartment building refinances to
make long-overdue capital improvements.
A Native American tribal entity
opens a stunning, award-winning
golf course on Pueblo Indian lands in
New Mexico. A charter school in a
low-income Bronx neighborhood
moves from a makeshift temporary
location to a new, state-of-the-art
high-tech campus.
These are just a small sample of
recent projects made possible by
financing from National Cooperative
Bank (NCB), headquartered in
Washington, D.C. For more than 20
years, NCB has been providing a comprehensive
array of financial services to
cooperatives and other member-owned
organizations throughout the country.
Currently owned by more than
1,800 of its customers, NCB serves a
spectrum of cooperatives, including
wholesale grocery co-ops, retailerowned
purchasing co-ops and housing
co-ops. Beyond this customer base,
however, NCB also meets the needs of
other enterprises, each grounded in a
spirit of cooperation and democratically
organized, even though they are not
cooperatives in the strictest sense.
These groups, for example, may be
nonprofits that deliver services to their
local communities. They may be
ESOPs (Employee Stock Ownership
Plans) giving workers an equity stake
in their companies. Or they may be
Alaska Native enterprises that, by their
very nature, are member-run and
member-driven.
NCB is unique because it was created
to serve the financial needs of this
underserved market-niche people
who join together cooperatively to meet
personal, social or business needs, especially
those in low-income
communities.
Chartered by Congress
in 1978, NCB was privatized
in 1981 as a memberowned
financial institution.
As a bank whose mission
is to serve and promote
cooperatively organized
enterprises, NCB’s success
is measured by the degree
to which its customers succeed.
So, the bank continually
changes and innovates
as its customers seek new financial
solutions in an increasingly competitive
environment:
- In real estate lending, NCB promotes
multifamily homeownership by offering
an array of financial services to
housing cooperatives and other types
of community associations.
- In commercial and small business
banking, NCB helps member-driven
organizations of all shapes and sizes
grow with customized financial services.
- In community development, NCB
assists at-risk communities with a
unique blend of technical assistance
and development finance.
- In personal banking, NCB provides
financing for co-op and condo apartments,
as well as checking and savings
for consumers nationwide.
Working to ensure the continued
vitality of the cooperative sector as a
whole is also very much a part of
NCB’s mission. Which is why, every
year, the bank publishes the NCB Co-op
100, in both print and online versions,
highlighting the nation’s top 100 coops
and their contributions to
America’s economy.
Each October, NCB also plays a
role in the celebrations surrounding
National Co-op Month. In 2003, as
part of this annual observance, the
bank produced a video and accompanying
brochure titled “What is a Coop?
You’d be Surprised.” It shows how
cooperatives are interwoven throughout
American life. Copies can be
obtained by calling NCB at (202) 336-
7742 or by sending an e-mail request
to marcom@ncb.coop.
The enterprises NCB serves are large
and small. They are located in rural and
urban communities. They affect the
lives of Americans in essential ways,
enabling them to realize their dreams of
owning a home, running a competitive
business, giving their children a good
education and making sure they have
access to quality health care now and as
they grow older. NCB helps them by
crafting financial solutions tailored to
their continually evolving needs.
Contact information: website:
www.ncb.coop; phone: (800) 955-9622;
address: 1725 Eye St. N.W., Suite 600,
Washington, D.C. 20006. President &
CEO: Charles Snyder; Chairman:
Stuart Saft, Council of New York
Cooperatives.
