Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
National Journal Touts Latino Community CU For Member Support
WASHINGTON, D.C. (12/9/13)--Through "The Next Economy" project, National Journal and The Atlantic are profiling innovative programs that build and support a strong middle class. As the year closes, the publications are focusing on the best of the year, and that includes the work done by Latino Community CU (LCCU) in Durham, N.C.
 
It's not enough for low-income consumers to start relationships with financial institutions by opening accounts and saving money, according to National Journal (Dec. 6). They need to establish good credit--a challenge for those with no history of any type of borrowing.
 
That's where a place like LCCU comes in. The $125 million-asset credit union has a mission of inclusive economic opportunity with a focus on Latino immigrants. All services are provided in both Spanish and English.
 
National Journal cited the credit union's lending success--it has a lower delinquency rate than the industry average. Members with no credit history can obtain loans at no extra cost, and many members previously were unbanked.
 
Other asset-building programs cited in the "Next Economy" are a San Francisco lending circle, an identification card that doubles as a prepaid debit card, online low-interest lending, and a fund that works to prevent mortgage delinquencies or foreclosures.
Other Resources

El Poder Es Tuyo
RSS print
News Now LiveWire
96 #creditunions across Britain have applied for funding from Lloyds Banking Group #CreditUnion Development Fund http://t.co/quq3OEE0Qq
12 hours ago
Eight new ideas hatched from @fileneresearch innovation incubator #NewsNow http://t.co/h6Ev6q3HnQ
13 hours ago
Homebuilder confidence continues to climb #NewsNow #Market http://t.co/UTBSpmoeZD
15 hours ago
Mich. league issues 4th consecutive dues rebate #NewsNow http://t.co/MGxMRRLrkb
16 hours ago
Passwords: It's not what you type, it's *how* you type via @Forbes http://t.co/QsPjmGjA4K
16 hours ago