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Cooperativa Latina, Nuestra Cooperativa

Honoring our Heritage: Immigrants and Credit Unions. 4th Latino Credit Union ConferenceJune 7, 2006Luis Pastor, CEO. Latino Community Credit Union. What is LCCU?. . Origin: First financial institution in NC focused on serving the Latino immigrant community. Mission: To provide access to high quality, affordable financial services and education to integrate members into the U.S. financial systemStaff: 100% bilingual and bicultural staff from Latin America, U.S. and SpainMembers: from 30064

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Cooperativa Latina, Nuestra Cooperativa

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    1. Latino Community Credit Union Cooperativa Latina, Nuestra Cooperativa

    2. Honoring our Heritage: Immigrants and Credit Unions 4th Latino Credit Union Conference June 7, 2006 Luis Pastor, CEO

    3. Latino Community Credit Union What is LCCU?

    4. Latino Community Credit Union The Facts…

    5. Latino Community Credit Union Our model

    6. Latino Community Credit Union Why a Latino CU? Lack of access to financial institutions Focus on immigrants Great credit union leadership in NC NC has fastest growing Latino population

    7. Latino Community Credit Union Our members Low level of education: 7th grade Distrust financial institutions Not only language barrier, but cultural Unnecessary documentation in some cases

    8. Latino Community Credit Union Our needs Long term relationship All financial needs, not just basic products Transition to financial maturity Very low delinquency: 2% consumer, 0% mortgages Financial education Loyalty

    9. Latino Community Credit Union Where to start Change in cultural organization, from Board of Directors to tellers Fulfill all financial needs, both present and future of your members There are resources in the Credit Union movement Each CU can find different partners to meet the needs of it’s members

    10. Latino Community Credit Union Cooperativa Latina, Nuestra Cooperativa

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