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Latino Community Credit Union
201 W. Main StreetDurham NC, 27701
CDFI Awards for Latino Community Credit Union
FA (2009) - $2,000,000
Latino Community Credit Union is a nonprofit Community Development Credit Union serving the Latino community in North Carolina. It was chartered in 2000 and is a certified CDFI. As a credit union, it provides financial services and loan products to its membership, which includes a significant number of previously-unbanked persons. Latino Community Credit Union will use its FA award to expand its ability to serve its customers by opening two new branch locations, installing remote access terminals, and translating products into Spanish.
FA (2008) - $1,000,000
Latino Community Credit Union (LCCU) is a certified CDFI founded in 2000. LCCU serves members of Latino Community Development Center, a statewide non-profit organization committed to strengthening North Carolina’s low-income Latino community. LCCU will use the FY08 Financial Assistance award of $1,000,000 to increase its capital reserves and open three new branches and offer four new loan products.
FA (2007) - $860,000
Founded in 2000, Latino Community Credit Union (LCCU) is a community-based, 50,000 member financial institution. It offers bilingual financial services and financial education to the North Carolina Latino community and other low-income people. The credit union operates five branches and provides it services throughout the state. LCCU will use its FY07 FA award to increase its lending capacity.
FA (2003) - $700,000
The Fund"s $700,000 award will be used to implement a home mortgage lending program for new Latino immigrants, who make up over 85% of LCCU"s membership. LCCU seeks to increase the low homeownership rate in NC?s Latino community. Over the next three years, LCCU will finance 65 mortgages for Latinos, at least 90% of who will become first-time homebuyers. LCCU will also provide homebuyer education for first-time homebuyers.
CORE (2002) - $520,000
CDFI Fund"s $500,000 grant and $20,000 in Technical Assistance will be used to support the CU"s expansion into Raleigh.
SECA (2001) - $191,500
A $41,500 technical assistance grant and a $150,000 financial assistance grant will help it serve its existing membership better and to expand its services and market reach by opening a branch in Raleigh, North Carolina.
SECA (2000) - $61,000
LCCU is awarded $61,000 that will be used for staff training, office technology and consulting services to assist with marketing strategies and appropriate loan servicing policies and procedures. Among the entities that have helped LCCU with its start are El Centro Community Services, Self Help, (NC) State Employees Credit Union, and the NC Minority Support Center. Several of North Carolina"s CDFI certified credit unions have made deposits in LCCU.
(0) - $0
Other Community Development Financial Institutions in North Carolina
CAHEC New Markets, LLC
Raleigh
Chatham-Lee Credit Union
Pittsboro
College Heights Credit Union
Fayetteville
Lumbee Tribe of North Carolina
Pembroke
MAY Coalition, Inc.
Spruce Pine
Metropolitan Community Credit Union
Washington
School Workers Federal Credit Union
CHARLOTTE
Self-Help Credit Union
Durham
Self-Help Ventures Fund
Durham
South East Community Credit Union
Wilmington
Tri County Credit Union
Ahoskie
Victory- Masonic Mutual Credit Union
Winston-Salem
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