NYC’s Credit Unions Give Mom-and-Pop Stores a Chance, Despite Gentrification
This article, featuring Democracy Collaborative’s Steve Dubb, details the role of Community Development Credit Unions in combatting gentrification in New York City by providing loans to traditionally overlooked small business owners.
In the trendy Lower East Side of New York City, where high-end restaurants have replaced many of the old mom-and-pop businesses, a stream of customers flows through the door of Rossy’s Bakery: construction workers and cab drivers, residents of the public housing complex across the street, and Spanish-speaking clientele who have lived in the neighborhood for decades. Inside, diners sit at wooden tables, chitchatting above steaming plates of rice, beans, and pork. Below a print of a succulent rose dripping with dew, a display case offers mouth-watering Dominican specialties, from Guava cake to corn pudding…. Read full article.