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
.@CreditYOUnion captures voices of #100MM loud, proud at @GAUnitedCU See #NewsNow Thursday for more
11 hours ago
Ill. @GovernorQuinn signs patent troll law http://t.co/ugWf8zHpCm via @CrainsChicago
12 hours ago
.@MBAMortgage : Mortgage apps increased 2.8% from one week earlier for week ending Aug. 22.
13 hours ago
Franchise businesses may face higher breach risk with POS systems HT @briankrebs http://t.co/LGE46DUk15
14 hours ago
About 1 in 3 consumers use plastsic for in-person purchases of less than $5, according to @CreditCardsCom survey.
15 hours ago