The MSC maintain an interest-bearing, federally insured deposit with the Latino Community Credit Union (LCCU). This non-profit financial institution provides affordable, accessible, and fair financial services to the Latino population of North Carolina. LCCU serves 83,000 members from 137 different countries; 82% of LCCU members are low-income and 65% were previously unbanked. The MSC’s impact investment helps hard-working families access new economic opportunities, from a first home to a college degree.
Chartered in February 2000 through a unique partnership including local grassroots organizations and credit unions, LCCU set out to help the newly expanded Latino immigrant population in Durham, NC. Excluded from the U.S. banking system, Durham’s Latino immigrants were known to carry large sums of cash, making them easy targets for theft. A community-based financial institution to bridge language, cultural and trust barriers was the right solution. Today, LCCU boasts 14 branches across North Carolina as well as a strong virtual banking experience.
Read more: https://latinoccu.org/