2. Latino Community Credit Union (LCCU) Creating Sustainable Credit Unions John.herrera@self-help.org NALCAB National Conference Asegurando Nuestro Futuro: Asset Preservation in a Challenging Economy San Francisco, California September 3-5 th, 2008

3. Latino Community Credit Union What is LCCU? Staff: 100% bilingual and bicultural staff from Latin America, U.S. and Spain Members: from five continents Origin: First financial institution in North Carolina focused on serving the Latino immigrant community. Mission: To provide access to high quality, affordable financial services and education to integrate members into the U.S. financial system.

4. Latino Community Credit Union The Facts… Latino Community Credit Union Over 50,000 Members 6 branches + 2 new branches $68 million in assets 70% unbanked 97% low-income

5. Who we are Financial Education 9,100 participants 175 graduates since 2006 97% Low Income 70% Unbanked Affordable Products/Services Affordable Products/Services Leading CU in remittances 13,286 loans $91 million in financing Economic/ Community Development Economic/ Community Development 500 homeowners 90% first-time homebuyers 0% delinquency Workshops Individual Counseling “Building a Better Future” ESL Deposit Accounts Credit Builder Loans Personal & Auto Loans Mortgages Debit/ Credit Cards Over 900 ATMs Remittances / IACH Up to 100% LTV mortgages Even w/o credit history No PMI Culture of savings

6. Latino Community Credit Union Full package of services Deposit Services Saving Checking Money Market STCs Loans Credit-Builder Personal Loans Car Loans Credit Cards (secured & unsecured) Mortgages Other Services Low-cost money orders Affordable wire transfers/ACH Remittances Online/ Phone Services Financial Education All services available with SSN or ITIN No discrimination in pricing Access to credit should be a human right

7. Our Model Trust from community Language and culture Full package of products and services Outreach Lending policies SSN and ITIN Pricing Technology Financial Education vs. Marketing “I used to put my head down when I went into a bank, and now I can go into a bank and hold my head high because I understand.” Humberto from Mexico, a 2006 graduate

8. Financial Education Bilingual Materials Educational Workshops Popular and Peer Education Graduation Ceremonies Individual Counseling BALANCE relationship PSAs and educational articles Movie/Video Tools 9,100 participants 175 graduates

9. F inancial Education Materials Financial Education for Immigrants “Building a Better Future” curriculum Guide for Developing a Program to Integrate Recent Immigrants into the U.S. Financial System Educational Videos Homebuyer Education Program Homebuyer Education Guide Angelica’s Dreams (feature length movie)

10. Latino Community Credit Union Q & A Questions?