Wednesday, October 12, 2005
August 24, 1999
Mr. Walter Ellis, Executive Director
United Equity Development Corporation
2606 Prospect Avenue, Suite A .
Riverside, CA 92507
Dear Mr. Ellis
In follow up to our discussions, I would like to thank you for providing First
USA Bank with the opportunity to bid on the affinity credit card business for the UEDC. As I mentioned in my letter dated July 30th we are currently looking at groups with a membership of 20,000. Unfortunately your current membership of 2,500 does not meet the bank's present size requirements; therefore I must respectfully decline at this time.
I wish you success with your organization and will be happy to reevaluaate the opportunity as your membership grows.
Sincerely,
Suzanne M. Devoe
Vice President Research
Mr. Walter Ellis, Executive Director
United Equity Development Corporation
2606 Prospect Avenue, Suite A .
Riverside, CA 92507
Dear Mr. Ellis
In follow up to our discussions, I would like to thank you for providing First
USA Bank with the opportunity to bid on the affinity credit card business for the UEDC. As I mentioned in my letter dated July 30th we are currently looking at groups with a membership of 20,000. Unfortunately your current membership of 2,500 does not meet the bank's present size requirements; therefore I must respectfully decline at this time.
I wish you success with your organization and will be happy to reevaluaate the opportunity as your membership grows.
Sincerely,
Suzanne M. Devoe
Vice President Research
# posted by walter @ 2:18 PM 
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MISSION STATEMENT
The mission of UAAD is to serve as the locus of convergent services and resources, translating them into a comprehensive effort designed to improve the financial status of low and moderate-income individuals. Its first efforts will focus on being the premier provider of low interest loans, and as a gateway through which underserved communities can access banking services. UAAD is dedicated to building a long-term relationship with financial institutions providing low interest loans and other benefits to these communities. UAAD wants to be recognized as the leader in providing such services. UAAD efforts will also assist banks in meeting their CRA obligations.
Each of these relationships are to be informed first by a research and planning document, generated by UAAD, focusing on the demography of the communities and identifying the respective institutions from which services are being sought. Solicitations and subsequent negotiations are ongoing regarding the funding required for each project. UAAD is poised to have a very active year, bringing together banks and communities, which heretofore have had little or no significant contact with one another.
United Affirmative Action Development (UAAD) is a 501 (c) 3 non-profit organization. UAAD is developing affiliation branches in Fayetteville and adding local residents and professionals to its board of directors and advisory board.
Purpose of the plan
UAAD’s intent is to use public relations techniques and practices to attract individuals and businesses to utilize the participating bank programs for their financial advantages. UAAD will provide financial expertise beneficial to its members. UAAD will assist its members in credit repair, loan preparation, presentation and repayment of loans. UAAD will negotiate benefits and discounts for it members.
UAAD while assisting its members in financial gains will also create a positive image for the participating bank. UAAD’s actions along with the bank will set standards how FDIC (Community Reinvestment Act of 1977) can be met and at the same time create a positive public relations image. Our efforts along with the participating bank’s involvement will set standards on how redlining and discrimination can be eliminated in financial institutions. We intend to negotiate a 5-year agreement to:
1. Provide business, personal, home, and auto loans at prime interest rate.
2. Provide membership card (Visa) with interest rates below 9 % (percent).
We are asking your organization for support. Our organization operates in a similar manner as “Acorn”. As you may be aware Acorn negotiates with banks to finance HUD loans and also works with other organizations on labor issues. Our organization, UAAD, concentrates on both HUD and commercial aspects of CRA. We ask that your
organization assist in providing the expertise needed to ascertain the success of this project.
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The mission of UAAD is to serve as the locus of convergent services and resources, translating them into a comprehensive effort designed to improve the financial status of low and moderate-income individuals. Its first efforts will focus on being the premier provider of low interest loans, and as a gateway through which underserved communities can access banking services. UAAD is dedicated to building a long-term relationship with financial institutions providing low interest loans and other benefits to these communities. UAAD wants to be recognized as the leader in providing such services. UAAD efforts will also assist banks in meeting their CRA obligations.
Each of these relationships are to be informed first by a research and planning document, generated by UAAD, focusing on the demography of the communities and identifying the respective institutions from which services are being sought. Solicitations and subsequent negotiations are ongoing regarding the funding required for each project. UAAD is poised to have a very active year, bringing together banks and communities, which heretofore have had little or no significant contact with one another.
United Affirmative Action Development (UAAD) is a 501 (c) 3 non-profit organization. UAAD is developing affiliation branches in Fayetteville and adding local residents and professionals to its board of directors and advisory board.
Purpose of the plan
UAAD’s intent is to use public relations techniques and practices to attract individuals and businesses to utilize the participating bank programs for their financial advantages. UAAD will provide financial expertise beneficial to its members. UAAD will assist its members in credit repair, loan preparation, presentation and repayment of loans. UAAD will negotiate benefits and discounts for it members.
UAAD while assisting its members in financial gains will also create a positive image for the participating bank. UAAD’s actions along with the bank will set standards how FDIC (Community Reinvestment Act of 1977) can be met and at the same time create a positive public relations image. Our efforts along with the participating bank’s involvement will set standards on how redlining and discrimination can be eliminated in financial institutions. We intend to negotiate a 5-year agreement to:
1. Provide business, personal, home, and auto loans at prime interest rate.
2. Provide membership card (Visa) with interest rates below 9 % (percent).
We are asking your organization for support. Our organization operates in a similar manner as “Acorn”. As you may be aware Acorn negotiates with banks to finance HUD loans and also works with other organizations on labor issues. Our organization, UAAD, concentrates on both HUD and commercial aspects of CRA. We ask that your
organization assist in providing the expertise needed to ascertain the success of this project.
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