the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit union. under her watch, the credit union groupover 1600 members. it has become the national model for institutions seeking to provide financial education and banking services to the low- income communities. last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should g

money borrowing from not from the payday extortionist like the longer but credit unions and other folks like that also the occupy wall street group has just started a co-op bank in america to try to compete to strays outcompete the banks my question is what do you think of this idea instead of just centrally moving the money out what you think about this idea of starting parallel institutions or parallel banks or just put them out of business by offering a better service that i think is absolutely necessary and the big problem that we have in the k. is that it's really hard to become a new competitor in the market so you may know that the big banks actually own the backend payment system that i think runs through i don't explain that well i don't know it's a lot of technical detail i love the fact the whole banking system is so of reliant on some ancient better vitæ so many sad state of fads but basically in order for a small pond and to offer a current account we have to have to be able to access the payment system and the minute is too expensive to do that because that right and by barclays noids t.s.b. . sensory evidence of co

the collapse now everybody's been moving their money to credit unions the bank lobbyists have lobbied congress and what they're saying is that is they're no longer small little credit unions organized around one business or one group of people. two hundred of them now have more than a billion dollars in assets they say for example now to put that into context of course j.p. morgan has over two trillion dollars in assets more knows how many trillions are quadrillions and liabilities but they also lost nine billion on the london whale in the course of weeks so here are these they're complaining that two hundred of these credit unions have more than a billion dollars in assets j.p. morgan is proud treated very strictly it's a credit the cold was a very secure size and then they took some other mortgage backed securities and they make it short so some silver and then they want to the fed and they go so no credit for that so you have to add on a new piece here and this is j.p. morgan's latest the london whale struthers is the that's the bubble that they've really is based on so use a crude you hear this rollout is either going to get all that money and they're going to replace it on their balance sheet and there's goin

the collapse now everybody's been moving their money to credit unions the bank lobbyists have lobbied congress and what they're saying is that is they're no longer small little credit unions organized around one business or one group of people two hundred of them now have more than a billion dollars in assets they say for example now to put that into context of course j.p. morgan has over two trillion dollars in assets or knows how many trillions are quadrillions and liabilities but they also lost nine billion on the london whale in the course of weeks so here are these they're complaining that two hundred of these credit unions have more than a billion dollars in assets j.p. morgan's balance sheet is basically it's a credit the cold thank you very very security guys and then they took some other mortgage backed securities and they make it short so some children and then they went to the fed and they got so no credit for that so you have to add on a new piece here and this is just the mortgage lenders the london whale brothers the the bubble that they've rated based on so years occur you hear the old loot is either going to get all that money and they're going to replace it on their balance sheet and there's going