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Northcountry Cooperative Development |
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| PURPOSE: |
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Northcountry operates three separate legal organizations:
- The Northcountry Cooperative Development Fund (NCDF) is a cooperatively-organized financial intermediary and a Community Development Financial Institution providing loans and other services to a broad range of growing and developing cooperatives.
- The Northcountry Cooperative Foundation (NCF) is a 501(c)3 educational and technical assistance organization and developer of affordable housing - assisting low-income, low-wealth, and other underserved communities to develop community-owned and democratically-governed enterprises through training, research, education, development assistance, and specially designed research projects.
- The Northcountry Cooperative Federal Credit Union (NCFCU) is a federally chartered community development credit union providing loans and investment opportunities. All deposits and loans directly support vibrant cooperative communities.
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| PROGRAMS: |
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Northcountry provides loans to cooperatives of all types. It then provides investment opportunities into its credit union and makes loans from those deposits. It provides training, research, education and development assistance through its foundation and through the support of a United States Department of Agriculture Cooperative Development Technical Assistance grant. |
| COST OF SERVICES: |
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Services provided through grant funds and through the foundation are free. Loans carry an annual interest rate established by the board of directors. Consulting services are billed at an established rate. |
| GEOGRAPHICAL AREA SERVED: |
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Northcountry can serve projects anywhere in the United States, however, most of the development and lending services are concentrated in 10 midwest states. Minneapolis, MN is the home office. Northcountry operates a satellite office in Mandan, ND. |
| CLIENTELLE SERVED: |
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Northcountry is focused on meeting the needs of limited resource cooperatives. |
| SPONSORING AGENT: |
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Northcountry was founded in 1978 by a group of cooperative grocery stores. It is a true cooperative owned by and serving its member borrowers. |
| CONTACTS: |
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Bill Patrie, Director of Cooperative Business Strategies
400 West Main
PO Box 1076
Mandan, ND 58554-7076
701-663-3886
Fax: 701-663-3886
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http://www.ncdf.coop
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Last Updated ( Thursday, June 26, 2008 )
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