2009 Annual Report

The mission of justine PETERSEN is to connect institutional resources to the needs of low- and moderate-income families in order to build assets and create enduring change.

In 2009, justine PETERSEN counselors delivered four core services and products:

Credit Building and Financial Education
Homeownership preparation and retention
Micro-enterprise lending and technical assistance
Individual Development Accounts

Credit Building and Financial Education

justine PETERSEN launched a credit building campaign distinct from its homeownership and micro-enterprise services and products. 103 individuals looking to build credit not associated with home purchase or micro-finance were counseled. justine PETERSEN, in partnership with Citi MicroFinance, piloted a Banamex USA secured credit card and opened 133 secured credit cards for clients with limited access to credit. Through justine PETERSEN's subsidiary, Great Rivers Community Capital, 219 payday loan alternative loans were originated to assist clients to build good credit. In addition, over 100 clients completed the FDIC's Money Smart curriculum, delivered monthly through community volunteers.

Homeownership preparation and retention

justine PETERSEN counselors worked with 829 prospective homebuyers. 287 of these families purchased homes with safe and affordable mortgages.

justine PETERSEN counselors assisted 79 families to negotiate the foreclosure process and counseled 70 seniors considering reverse mortgage loans.

Micro-enterprise lending and technical assistance

justine PETERSEN senior management and staff continued to work on scaling up it micro-enterprise lending through its work with the Aspen Institute's Scale Academy. justine PETERSEN counselors worked with 818 entrepreneurs and originated $985,000 to 238 micro-enterprises in 2009.

Individual Development Accounts

In 2009 as a companion to justine PETERSEN homeownership and micro-enterprise products, 47 clients accessed $190,000 in Individual Development Account match funds in order to purchase homes and start small businesses.

2009 Board of Directors

Filomena Angelucci-Dean, President

Matt Ghio, Secretary/ Treasurer

Fr. William Hutchison

Keith Willy

Michele Watts

Katherine Potts

Great Rivers 2009 Board of Directors

Richard Torack, President

Matt Ghio, Secretary/ Treasurer

Eddie Davis

Robert Boyle