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Nueva Esperanza to open in several weeks
TOLEDO (9/13/10)--Nueva Esperanza, or New Hope Community CU, is slated to open within the next several weeks as the state’s first Latino credit union. The credit union could be in its own building by the end of the year, said The Toledo Blade (Sept. 10). The state-chartered credit union is first credit union chartered in Ohio since 2001. The credit union is expected to have $1.3 million in deposits and $180,000 in start-up capital. It will serve members in Toledo’s Old South End. Besides Charter Bank, there is no financial institution in the neighborhood, Jessica Hernandez, vice president, told the newspaper. There are a lot of unbanked Latinos in the area, and they are not familiar with the services a credit union can offer them, she added. The credit union has received funding from several local and community foundations, and the Ohio Credit Union Foundation and the National Credit Union Foundation. Credit union leaders have raised funds to open the credit union for several years.
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