Redstone Federal Credit Union

4 | r e d f c u.o r g Most cities have areas of town that need extra attention and additional resources. A Huntsville-based non-profit, Neighborhood Concepts, works with residents and business owners to provide those resources. Neighborhood Concepts started in 1988 with the goal of replacing World War II-era apartments with affordable housing. As the group worked with the local communities, it found that local businesses in those areas were sparse. Neighborhoods were lacking grocery stores, daycares, and other mom-and-pop-type shops essential to a neighborhood's sustainability. To address that need, Neighborhood Concepts found a federal program called Community Development Financial Institutions Fund and used it to provide money for small business development throughout North Alabama. Today, the organization has broadened its reach with a strategic partnership with Redstone Federal Credit Union and e Catalyst Center for Business and Entrepreneurship. is partnership created the Business Assistance Microloan (BAM).* BAM provides funds to start-ups and early-stage businesses in the North Alabama area, including Tennessee counties that border Madison County. Business owners can apply for $5,000 to $25,000. C O M M U N I T Y PA R T N E R S P O T L I G H T * Must qualify for and open Business Checking account in order to receive funds. Loans are not funded through Redstone Federal Credit Union (RFCU ® ). RFCU, North Alabama Revolving Loan Fund, and The Catalyst are separate entities. RFCU does not warrant, guarantee, or insure any product or service offered by either entit y. Neighborhood Concepts: Strengthening Communities Through Affordable Housing and Business Loans

• Cover