Indepth analysis of persistant problems in the field of community development. Woodstock's research reports contribute to the body of knowledge used by policymakers and community development practitioners.
Utilizing extensive data analysis, this alert shows how community
development banks have grown in size and financial strength while at
the same time serving their community development mission.
Finds that lending for home purchases throughout
the Chicago area has increased dramatically in recent years, with loan
volume up by 50 percent from 1990 to 1994. Loans to low- and
moderate-income individuals increased at even higher rates than overall
loans, increasingby 85 percent over the same period.
This study finds that a number of basic financial
services are lacking in Pilsen. Only two institutions offer
checking accounts and only two provide ATM service. In a
community that is 88 percent Latino, only one institution distributes
literature in Spanish. The study also finds that a majority of
residents use currency exchanges for their primary financial needs.
Lending test under the proposed 1994 CRA rules
show that some large Chicago area mortgage companies have poor lending
records in low- and moderate-income neighborhoods.