FAQs

Who can make a deposit with LCCU?

Anyone can help support LCCU’s mission by making a deposit ($500 minimum for a share-term certificate). You will need to join the Latino Community Development Center for a $20 tax-deductible fee, and maintain a $10 balance in a savings account with no other charges.

What are socially responsible investments?

Also often known as community investments, socially responsible investments are deposits that you make that have an extraordinary impact. They earn interest while also providing a “social return” by improving communities.

What is social impact?

When you make a community investment, the institution uses those funds to provide loans to people who could not normally access affordable loans to be able to buy a home, start a business, purchase a car to get to and from work, or create a credit history. These loans help stabilize families and communities, while providing a way for them to save money and build their wealth, ultimately improving local communities.

Are socially responsible investments risky?

Socially responsible investments are no riskier than other deposits that you would make in a checking or savings account, or a CD. They are federally insured up to $250,000 by the National Credit Union Administration.

Why should I earn less on socially responsible investments?

You may not have to earn less on a deposit with LCCU, unless you choose a subsidized rate. LCCU is able to pay competitive deposit rates due to its high volume of lending, allowing its depositors to enjoy great rates, while benefiting from exceptional social return! Those that choose a subsidized rate further support LCCU’s mission and members by lowering costs to members.