Latino Lending: Analysis of the Consumer Loan Portfolio of North Carolina’s Cooperativa Communitaria Latino de CréditoResearch funded by Freddie Mac
Center researchers analyze the consumer loan portfolio of the Latino Community Credit Union to better understand how to serve the financial needs of banked and unbanked Latinos in North Carolina.
UNC Center for Community Capital researchers analyze the consumer loan portfolio of the Latino Community Credit Union, with funding from Freddie Mac, to better understand how to serve the financial needs of banked and unbanked Latinos in North Carolina.
Opened in 2000, the Cooperativa Communitaria Latina de Credito, or Latino Community Credit Union, provides bilingual financial services to credit union members in Charlotte, Durham, Fayetteville, Greensboro, and Raleigh, North Carolina. In addition to providing traditional banking services, LCCU also offers financial education and outreach to Latinos in these areas.
Resarchers find the LCCU serves as both a model and a consultant to institutions seeking to serve the emerging Latino market. It benefits its constituency by introducing them to and preparing them for mainstream banking relationships. But it also seeks to attract and retain customers by offering competitive loan products so that it can flourish as a sustainable institution.
As its market continues to evolve, its products and services will have to continue to adjust likewise.