Micro-credit: An Alternative to Predatory Lending

On April 27, 2007, the ACED Student Association, with support from the Hunt Family Fund and the Economic Development Council of the Bloomington-Normal Area, hosted a workshop to discuss
micro-credit as a commmunity development tool. Over 50 community members attended and enthusiastically participated in what proved to be a very productive and inspiring day.

Following up on the success of this event, below are some links that can assist participants in taking the next steps toward implementing micro-credit in the Bloomington-Normal community.

Community Development Credit Unions: Providing an Alternative Financial Product
Presentation by Steve Neumann, North Side Community Federal Credit Union - with additional resources on payday lending alternatives listed on slide no. 16

Micro-credit: An International History
Presentation by Dr. Ali Riaz, Associate Professor of Politics and Government, Illinois State University

Microfinance and Microcredit: How can $100 Change an Economy?
Brochure published by the United Nations Department of Public Information for the International Year of Microcredit 2005

High-Cost Consumer Credit: What it is, How it Works, and its Consequences
Presentation by Tom Feltner, Woodstock Institute

For a summary of all sessions, please check out the speaker abstracts.

Coming Soon...
The ACED Student Association is currently working to compile notes taken during the small-group discussions to be posted in the next couple of weeks. Stay tuned!

If you are interested in working with the Stevenson Center on micro-credit or other issues, contact us at (309) 438-7090 or StevensonCenter@ilstu.edu.