The Latino Community Credit Union offers different types of Deposit Accounts and Loans to help you start or grow your own micro-business. Read more below and see how these products can help you start your own business or expand it!
Loans
LCCU provides micro loans to meet the needs of entrepreneurs that want to
start or
already have a business in North Carolina. We are conscious that micro businesses, due to their small size and other factors, have little opportunities to find accessible and affordable financing outside their closest circles like friends and family. That is why we want to help those micro businesses succeed and have access to the right amount of capital they need to succeed.
LCCU will primarily extend loans to businesses in the landscaping, construction and cleaning businesses that are sole proprietorships or general partnerships. We recognize that these sectors are some of the largest generators of micro businesses that are usually subcontractors and independent owners that might have commercial opportunities available but don’t have access to the financing and assistance needed to get the ball rolling.
LCCU reviews each loan independently and makes sure every application is looked carefully within the guidelines that have been established.
It is easy to apply for an LCCU loan. If you or someone you know is interested in obtaining a micro business loan from LCCU, you can search for the
nearest LCCU branch to find the lending officer that can help you. You can also download the application here to see the requirements and come prepared for the appointment.
Types of loans:
Accounts
Micro business Shares account
Micro business Checking account
Micro business Money market account
Micro business Share Term Certificates STC's
To establish membership with Latino Community Credit Union, an individual/business is required to open a share account. The Credit Union offers competitive interest rates and federal insurance protection.
| | Shares Account | Checking Account | Money Market Account | Share Term Certificates |
| Minimum Balance | $10.00 | $100.00 | $1,000.00 | $500.00 |
| Monthly Fee | None | None | None | None |
| Below balance fee | $2.00 | $5.00 | $5.00 | |
| # checks per month | | 50 | | |
| Additional check fee | | $0.20 | | |
| Deposits in cash | No limit | No limit | No limit | |
| Bill pay | | Free | | |
| # of Bill pay payments included | | 50 | | |
| Automatic overdraft transfer fee | | $1.00 | | |
Share Term Certificates are fixed rate accounts. All other accounts are variable rate with rates subject to change daily. Fees, other conditions or early withdrawal penalties may reduce the earnings on an account. Ask any employee for further information about fees and terms applicable to these accounts.
YOUR DEPOSITS ARE FEDERALLY INSURED UP TO $250,000 AND BACKED BY THE FULL FAITH OF THE UNITED STATES GOVERNMENT.
