Am I missing something? They say they have "$1 million in donations spent ... and $1 million in the bank to back any bad loans". For a bank/CU this sounds like pocket change. Later they say they have "almost unlimited capital". What gives?
These guys obviously had the best of intentions and a real desire to make a better world. I wish they could have found a way to clear that path, but I don't think that a CU was the right institutional form.