Latino Community Credit Union (LCCU), a full-service financial cooperative serving immigrant and underserved communities in North Carolina, celebrated its 2016 accomplishments in a short annual video this week. LCCU serves 67,000 members from 122 countries across the world at 11 branches located throughout the state.
“LCCU works to empower its members, not profit from them,” President/CEO Luis Pastor shared in an letter emailed to the membership along with the video. “Our mission is to provide ethical financial products and education to immigrants and other underserved communities, and each day we see the results: our members, 65% of which were previously unbanked, are developing their financial literacy, accessing ethical financial products, establishing credit, taking control of their financial lives, and building wealth for themselves and their families.”
Formed in 2000 in response to rash of crimes against Latino immigrants in Durham, LCCU has emerged as a nationally-recognized success story. Those successes continued in 2016, as loan growth totaled 24% and 2,339 members accessed credit for the very first time. “Each new loan represents a new opportunity: a new car to get to work, new tools to grow a business, a new home to invest in family and community,” Pastor noted.
You can learn more about LCCU’s impact in the above video, or visit this page on their web site.