DUBLIN, Ohio (8/7/09)--A Toledo, Ohio, foundation has awarded a grant to an Ohio-based credit union that is being established to help Latinos in the Northwestern part of the state. The credit union, Nueva Esperanza (New Hope) Community CU, would be the first new state-chartered credit union in Ohio in more than 20 years that serves an area in which more than half of area households are low-income. Toledo Community Foundation provided $50,000 to Nueva Esperanza on the condition that the credit union raises an additional $100,000, receives its charter, and obtains federal deposit insurance, said the Ohio Credit Union League (eLumination Aug. 5). The application was written by a grantwriter funded by the Ohio Credit Union Foundation, which obtained a $69,500 Innovation Grant from the National Credit Union Foundation (NCUF) for the credit union earlier this year. "Nueva Esperanza Community Credit Union will be a real asset to South Toledo," said Steve Bosack, NCUF deputy dirctor. "The credit union's presence will help residents achieve financial literacy, establish credit, and build savings. With so much support coming from within the community, the credit union will also serve as a source of community pride."