The Community Development Financial Institutions Fund (CDFI) awarded $2 million to Latino Community Credit Union for its branch expansion projects.  Treasury Secretary, Tim Geithner, announced this award on June 29, 2009, as part of a $90 million award program that the Obama administration has given to Community Development Financial Institutions in 26 states across the country.

Latino Community Credit Union (LCCU) has opened for business at its new branch in Garner (Wake County) in North Carolina at 4418 Fayetteville Road. This is LCCU’s second branch in Wake County with the intention of providing added convenience for members. LCCU will have a grand opening celebration in several weeks and will invite the public to join in its celebration. More details of this event will follow.

With the help of Latino Credit Union, our members can take advantage of the current financial crisis to become home-owners. House prices have decreased by about 25% since their highest levels in mid-2006, and financial institutions are offering competitive rates on mortgage loans. The low prices and interest rates combined allow our members to secure lower monthly installments when buying a new home.