Latino Credit Unions: Why They Matter & Where to Find?

Latino Credit Unions: Why They Matter & Where to Find

If you’re an immigrant, particularly Latino, residing in America, then you’re probably no stranger to the complications confronted by non-American citizens on a routine basis. One hectic burden is the flawed economic system in America!

The purpose of Latino Credit Unions is to aid individuals who have been otherwise under-served by the conventional American banking system. This involves immigrants, particularly from Latin-America, who are often hesitant to go to banks. Albeit, a bank account regards to having a secure and convenient vault to store finance and pay from, regardless of your ethnicity or nationality.

WHAT ARE LATINO CREDIT UNIONS?

Established in 2000 as a retort to an upsurge of burglaries and assaults antagonizing Durham’s Latino immigrants, Latino Community Credit Union (LCCU) intends to attend as a secure domicile for Latin-American citizens to save currency, access credits, and form assets.

Latino Credit Union avails 75,000 affiliates – 65% of whom were formerly unbanked – and possesses $277,000,000 in assets. To ensure credits to aid as community properties, Latino Community Credit Union provides CDs, which assist participants in making interest whilst providing an investment that can aid community citizens in procuring their first house or pay for a college education.

Not only this, but the Latino Community Credit Union also collaborates with the Latino Community Development Center (LCDC) to provide FREE literacy workshops in outlets across North Carolina.

Latino Credit Unions: Why They Matter & Where to Find

WHY THEY MATTER?

Almost 80 credit unions belong to a national platform known as Juntos Avanzamos, which means “Together We Advance”. It obliges contributing credit unions to provide inexpensive and convenient banking products to Latinos. These are the mutual practices of credit unions, which may contrast;

  • Permitting participants to provide a foreign identification, such as a foreign passport and matrícula consular – identification cards allotted by Mexican and other régimes for residents who reside outside their native countries.
  • Providing convenient banking facilities, such as financial remits, cheque payments, credit-building debts, and other amenities.
  • Accepting debt candidates based on an unconventional credit account, such as a lease or utility-bill payments, and permitting identification in the form of Individual Taxpayer Identification Numbers, allotted to citizens who are employed in the United States, but don’t have Social Security Numbers.
  • Availing English and Spanish resources, along with a polyglot workforce.
  • Having Latinos on a credit union’s ‘board of directors’ and ‘executive team’ – to ensure no discrimination or bias.
  • Providing business training through lectures and economic teaching, for establishing credits, securing assets, purchasing a house, launching a start-up, and other matters.

WHERE TO FIND THEM?

Below are Latino Community Credit Unions dedicated to aiding their communities;

ARIZONA
  • MariSol Federal Credit Union
  • Vantage West Credit Union
CALIFORNIA
  • Community First Credit Union
  • Kern Federal Credit Union
  • Kinecta Federal Credit Union
  • Santa Cruz Community Credit Union
  • SCE Federal Credit Union
  • Self-Help Federal Credit Union
  • Travis Credit Union
COLORADO
  • Fitzsimons Credit Union
  • Partner Colorado Credit Union
CONNECTICUT
  • Members Credit Union
  • Nutmeg State Financial Credit Union
FLORIDA
  • Jetstream Federal Credit Union
  • Manatee Community Federal Credit Union
  • Self-Help Federal Credit Union
  • Suncoast Credit Union
ILLINOIS
  • Illiana Financial Credit Union
  • Self-Help Federal Credit Union
IOWA
  • Ascentra Credit Union
  • Community 1st Credit Union
  • Des Moines Metro Credit Union
MICHIGAN
  • Community Promise Federal Credit Union
MISSOURI
  • Holy Rosary Credit Union
NEW JERSEY
  • 1st Bergen Federal Credit Union
  • North Jersey Federal Credit Union
NEW MEXICO
  • Guadalupe Credit Union
  • Rio Grande Credit Union
NEW YORK
  • Brooklyn Cooperative
  • Genesee Co-op Federal Credit Union
  • Lower East Side People’s Federal Credit Union
  • Neighborhood Trust Federal Credit Union
NORTH CAROLINA
  • Latino Community Credit Union
OHIO
  • Nueva Esperanza Community Credit Union
OKLAHOMA
  • True Sky Credit Union
  • Tinker Federal Credit Union
OREGON
  • Point West Credit Union
TEXAS
  • Alliance Credit Union
  • Amarillo Community Credit Union
  • Beacon Federal Credit Union
  • Border Federal Credit Union
  • Caprock Federal Credit Union
  • Coastal Community Federal Credit Union
  • Community Resource Credit Union
  • DATCU Credit Union
  • EECU
  • First Central Credit Union
  • FirstLight Federal Credit Union
  • GECU
  • Generations Federal Credit Union
  • La Joya Area Federal Credit Union
  • Neighborhood Credit Union
  • North East Texas Credit Union
  • One Source Federal Credit Union
  • People’s Trust Federal Credit Union
  • Randolph-Brooks Federal Credit Union (RBFCU)
  • Resource One Credit Union
  • River City Federal Credit Union
  • Security First Credit Union     
  • Security Service Federal Credit Union
  • Shared Resources Credit Union
  • Shell Federal Credit Union
  • Southwest 66 Credit Union
  • Space City Credit Union
  • Unity One Federal Credit Union
  • Velocity Credit Union
UTAH
  • City Center Credit Union
WASHINGTON
  • Lower Valley Credit Union
  • Seattle Metropolitan Credit Union
WASHINGTON, D.C.
  • DC Credit Union
  • OAS Federal Credit Union
WISCONSIN
  • Marine Credit Union

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