The NC Credit Union League honored Latino Community Credit Union for its financial education efforts, as well as its commitment to putting the credit union philosophy in action. The credit union won honorable mention for the statewide Alphonse Desjardins Adult Financial Education Award, as well as first place for the Louise A. Herring Award for Philosophy in Action. The credit union received the awards on June 10th during the NCCUL Annual Meeting in Pinehurst.
The annual Louise A. Herring Award for Philosophy in Action promotes credit union involvement in programs and services which incorporate the people helping people philosophy of credit unions into operations. Credit unions compete according to asset categories, with Latino winning first place in the $50-$250 million asset category.
Latino developed the “Dreamer Loan” in order to help young individuals brought to the US as children pay the application fee for the US Citizens and Immigration Services Deferred Action Process. These small-dollar loans improve educational, employment and wealth-building opportunities for the future, and allow young people to live without the fear of deportation.
The Desjardins Adult Financial Education Award recognizes leadership within the credit union movement on behalf of adult financial literacy. It considers all activities supporting the financial instruction of adult members and non-members; raising awareness of financial education programs offered; and collaboration with other organizations to provide financial education. Credit unions compete by asset category, in order to ensure fairness. Latino received the honorable mention in the $50 - $150 million asset category.
Latino partnered with the US Committee for Refugee and Immigrants of NC, which granted recent immigrants funds to start day care centers in their homes. In order to receive the funds, the grant recipients were required to complete a series of financial education workshops produced by LCCU. These classes taught entrepreneurs financial skills that will serve them well in their new day care ventures.