Carolinas' CUs Act As Hosts

LANCASTER, S.C. - Representatives of the World Council of Credit Unions' (WOCCU) international remittance program visited Founders FCU here, along with Latino Community Credit Union in Durham, N.C., to get a closer look at how the institutions are bringing local Hispanic communities into the financial mainstream.

While both credit unions are serving Hispanics successfully, their origins differ dramatically, WOCCU said. But what the two CUs have in common, said WOCCU, includes driving the initiative from top executives with support from staff, managers and board members; getting involved in the local community through events and sponsorships; hiring staff who can communicate effectively with Hispanics and earn the trust of potential members; establishing simple, efficient processes for becoming a member, and more. Both credit unions emphasized the importance of being flexible and adapting to their local communities' needs. "We don't rely only on formal business plans," said Luis Pastor, CEO of Latino Community Credit Union. "It is critical for us to respond continuously to the evolving needs of our community."