IBiS Academic Director Greg Fairchild’s interest in community development finance has led him to explore the social impact of opening new credit union branches in “unbanked” Latino communities. This work was recognized in December 2012 by the Jesse Ball duPont Fund as exemplifying how partnerships between universities and community development financial institutions (CDFI) can significantly strengthen local places and increase opportunity and access for all people.
In his research, Fairchild discovered that, on average, when the Latino Community Credit Union (LCCU) opened new branches in underserved areas, armed robberies declined by 22.6 percent and properties values rose by 3.8 percent. Read his research report coauthored with Kulwant Rai:
Fairchild also has coauthored a teaching case and technical note on the emergence and development of credit unions in Latino communities:
- Teaching Case: Credit Where Credit Is Due: The Latino Community Credit Union (UVA-ENT-0104)
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Technical Note: The Dime That Started A Movement: The History and Development of Credit Unions (UVA-ENT-0103)
