Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Latino CU wins 5.5 million national award
MIAMI (12/14/07)--Latino Community CU (LCCU) of Durham, N.C., has won a $5.5 million grant that will help support its expansion. LCCU plans to expand into three new markets with the help of the $5.5 million Wachovia NEXT Award for Opportunity Finance, announced Wednesday at the Opportunity Finance Network conference in Miami. The NEXT awards recognize community development financial institutions (CDFIs) with “exceptional track records.” “The Wachovia NEXT Awards for Opportunity Finance are designed to propel CDFIs such as LCCU to the next level of growth, success, and staying power with a major one-time infusion of capital,” said Mark Pinsky, president/CEO of Opportunity Finance Network. The Wachovia Foundation, the John D. and Catherine T. MacArthur Foundation and the Opportunity Finance Network created the awards. The Wachovia Foundation is a private foundation that provides grants to tax-exempt organizations in education and community development. The Opportunity Finance Network is a network of private financial intermediaries identifying and investing in opportunities to benefit low-income populations. The MacArthur Foundation has supported opportunity finance since the mid-1980s. LCCU was founded in 2002 to respond to violence against Latino residents in North Carolina. It is the first multicultural financial institution in North Carolina to provide all of its services in English and Spanish. LCCU also serves African and European populations. The credit union has $50 million in assets and 42,000 members. It has branches in Durham, Charlotte, Raleigh, Greensboro and Fayetteville.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
14 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
15 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
15 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
16 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
17 hours ago