NEW YORK—The National Federation of Community Development Credit Unions (Federation) said five more credit unions have qualified for its Juntos Avanzamos designation.
Juntos Avanzamos, or Together We Advance, is a designation for credit unions committed to serving and empowering Hispanics, a vibrant and growing part of the American economy, the Federation said.
The Federation said the Juntos Avanzamos Selection Committee has approved the certification of an additional five credit unions devoted to advancing economic stability and growth among Hispanic communities. With the addition of the five credit unions listed below, Juntos Avanzamos has a presence in 19 states and the District of Columbia, with a total of 70 participating credit unions, the Federation reported.
“We are thrilled to have so many wonderful credit unions join the Juntos Avanzamos movement, and we congratulate them in reaching this significant milestone,” said Suzy Fonseca, president/CEO of Lower Valley Credit Union and a member of the Juntos Avanzamos Selection Committee, in a statement. “The important role that we all play in our communities and the impact that we have in the lives of those we serve is needed now more than ever.”
Among the CUs that have earned the designation:
- 1st Bergen FCU, Hackensack, N.J., which serves 2,500 members, including Latino immigrants and refugees. “They support economic advancement by providing ITIN loans and accepting the Matricula Consular. This $2.5-illion credit union is embedded in an expansive network of community-based organizations anchored by its sponsor, Greater Bergen Community Action, an anti-poverty agency that provides resources to foreign born consumers.”
- Community Promise FCU in Kalamazoo, Mich. “With assets under $1 million, the credit union serves 600 members with flexible account opening and loan underwriting criteria. Community Promise provides culturally relevant products such as quincenera loans and citizenship loans.”
- Illiana Financial CU in Calumet City., Ill. “With $234 million in assets, this credit union is committed to building upon their work with the immigrant community, accepting the Matricula Consular and ITIN documentation. Illiana has built out a successful mortgage program for Hispanics. Illiana currently has over $11 million in ITIN loans outstanding.”
- Members Credit Union, Fairfield County, Conn., “which has a growing population of immigrants. In addition to developing bilingual marketing materials as part of its Hispanic outreach efforts, Members accepts the Matricula Consular and ITIN as part of its account opening process and provides flexible underwriting criteria.”
- Nutmeg State Financial CU in Connecticut, serves counties throughout the state of Connecticut. “The credit union has over $400 million in assets and delivers services through eight branches with full bilingual capacity. Since 2001, the CU has provided services to predominantly Hispanic markets, establishing strategic partnerships with community-based organizations, most notably Catholic Charities.”