Journal of Microfinance / ESR Review


Through a process of peer comparison and analysis of historical financial trends, the impact of outside capital on the development and growth of community development credit unions is examined and small case studies of superior performers are presented. The data set includes twenty credit unions that have received CDFI core awards in the 1996 to 1999 period. The findings indicate that awardees have a higher growth rate than their peer groups in all areas of traditional indicators, including asset growth, member growth, share and deposit growth, loan growth, non-member deposit growth, and overall capitalization. It is further indicated that while the award money itself has an impact on growth, it is not the primary cause of the higher growth rates over the peer group.Rather, the award allows the organizations to expand by helping provide a stable capitalization ratio, financing new projects that increase growth, and giving the credit unions a positive reputation with investors other the


Jared Raynor has done microfinance work in Honduras with the organization HELP HONDURAS.



Journal Title

Journal of Microfinance

Issue and Volume