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New CDCU chartered to serve Latinos in Atlanta
ATLANTA (1/7/09)--Efforts that began in 2006 finally paid off for organizers of the newest community development credit union (CDCU), Georgia Family FCU in Atlanta. The credit union received its charter from the National Credit Union Administration (NCUA).
Atlanta’s Georgia Family FCU CEO Paola Diaz-Torres shows off the credit union’s new charter certificate to Georgia Credit Union Affiliates CEO Mike Mercer. (Photo provided by the National Federation of Community Development Credit Unions)
According to the National Federation of Community Development Credit Unions (NFCDCU), which worked with the organizers and provided technical assistance, the new credit union will serve primarily the low-income, metro-Atlanta Latino community. The credit union’s goal “is to break down the cultural and functional barriers that stand between low-income immigrant residents and mainstream financial services,” said Paola Diaz-Torres, who will serve as CEO of the new CDCU. “Our project aims to serve low-income individuals from the Hispanic community who struggle to build assets due to a lack of financial sophistication or access to affordable financial products,” she said. “The organizing process is so hard and discouraging that the friendship and support from the CDCU movement was instrumental in keeping our project moving forward,” she added. Organizers are looking for additional supporters to help spread the word about their efforts and to serve as conduits to leverage additional resources for the credit union.


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