In the News

Escobar said she receives phone calls all the time, "people saying, I bless you, I bless you for doing this for us. Thank you so much."

Neal noted that some of the first types of credit institutions grew out of minority and ethnic populations because there were language and social barriers, and then gradually moved to workplaces. But the need hasn't changed. 

"So it's the whole idea of establishing good credit, in terms of the lifetime savings in terms of interest rates, makes all the difference in the world," he said.

Harris said the stories were particularly compelling and that she wished her team that's in Washington, D.C., could come out to hear more from people working with CDFI grants to make real change in their communities. 

"So I feel like the work that you're doing here is really re-establishing an anchor where all the residents can come," she said, adding that she thought it was also a great example of a public-private partnership.

Bissell pointed east toward the former General Electric land, now being transformed into a industrial park. 

"Out there on that 70-acre site was once a big sprawling GE complex, there were 12,000 jobs over there, including my dad, who worked there for 30 years," he said. "And in those days, this neighborhood, there was a clear path for economic stability. Because there was the GE, three shifts of workers coming and going every day."

The building had been the first free-standing GE Credit Union branch and opened in 1971. But as GE declined, the 84-year-old credit union took out a community charter and changed its name. It more recently merged with another former industrial credit union — Landmark (Sprague Electric) — and now has more than $1 billion in assets. 

"So this is a new chapter for us. It's the right time, the 70-acre site is coming back to life, this neighborhood has been incredibly resilient, it is still full of creativity and possibility," Bissell said. "And we're excited to be part of it. We spent millions on this building, because we want them to know that we're here for them."

The branch sits in a neighborhood undergoing a revitalization spurred in part by being designated a state Transformative Development Initiative District. There's new development going on in terms of the St. Mary's complex and the Morningside neighborhood is bounded by Berkshire Health Systems on one end and the Berkshire Innovation Center on another. 

"This is where we can give people the skills to make your dreams come true," said Mayor Linda Tyer. "And this particular neighborhood, so as John said, this new Community Empowerment Center sits in the middle of a neighborhood that we are making a full throttle effort to rebuild and revitalize."