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To promote the economic stability and and independence of African immigrants and other disenfranchised communities in New York, and to support the chartering of the Pan-African Federal Credit Union ("Pan-African FCU").
Purpose Pan-African CDI was founded in 2013 to help combat poverty and underemployment in the African immigrant community in New York, and to help organize the Pan-African Federal Credit Union. Who we serve The Bronx is the poorest borough in New York City with a median income of $27,611, and 79.65% of its residents (96% in our proposed field of membership) are low or moderate income, according to the American Community Survey (5 Year in 2011), Median Family Income Listing in 2011. Bronx households are 28.7% likely to be unbanked (Citywide Financial Services Study by Social Compact, 2009); this is more than double the City average of 13.4% (far above the national average of 7.7%). The Bronx is also home to the largest concentration of African immigrants in the entire United States, amounting to over 60,000 residents (U.S. Census Bureau, 2010).
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