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CU System brief (10/05/2009)
* TOLEDO, Ohio (10/6/09)--Efforts to raise $100,000 in start-up capital for a proposed state-chartered credit union in Toledo, Ohio, are underway (eLumination Sept. 30). Credit unions have committed nearly $1.3 million in non-member deposits for the proposed Nueva Esperanza (New Hope) Community CU (NECCU), but regulators require that 10% of that amount be raised for capital before the credit union opens. Toledo-area businesses, business leaders and individuals are being asked to contribute. The Ohio Credit Union League, Ohio Credit Union Foundation, NECCU incorporators and Toledo-area credit union leaders met with business leaders to discuss the benefits that NECCU would provide the community. NECCU will serve residents of South Toledo--primarily Latino residents. The credit union hopes to increase financial literacy, and provide a safe, reasonable alternative to higher cost financial services that many residents use ....


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