DURHAM, N.C. -
Latino Community Credit Union is believed to have become the first credit union to produce its own feature film.
In yet another innovative way for credit unions to teach financial education, the $54-million Latino Community decided to produce a feature film instead of normal videos or another plodding infomercial, according to Marketing and Communications Director Angel Romero. Romero said the film idea came out of meetings where credit union staff was discussing what to show on televisions that were set to deploy in branch lobbies. Someone mentioned short videos on financial education, but Romero was disappointed by what he found on the market.
"I found out there is very little in English, much less Spanish," Romero said.
By chance, Romero has been friends with Rodrigo Dorfman, a Durham-based writer, playwright and director whose father, Ariel, is a well-known author in their native Chile, in addition to being a Duke University professor. Dorman wrote the script.
"We did not write the dramatic part of the script, but included what we wanted covered," he said. "The main issue is the process of purchasing a home."
The effort that started out simply seeking videos for display in branch has led to the creation of "Angelica's Dreams," a film financed with a grant from the Treasury Department's CDFI Fund. It's the first Latino-produced feature film to come out of the state of North Carolina, and tells the story of Roberto and Angelica, a Latin-American couple who are struggling to buy their own home, but don't know how to do so or whom to trust. It's a scenario LCCU said is faced by many immigrants.
The film is in Spanish with English subtitles with and features 10 employees of Latino Community Credit Union, with three in leading roles.
An important scene of the film shows Roberto taking the risk, as he sees it, of removing thousands of dollars of his savings and giving it to a credit union teller. Romero called it a dramatic "step by step guide" to getting a first home. The film shows the couple first meeting a credit union loan officer, then going through the steps of filling out required paperwork, hiring a building inspector, etc.
"It's directed toward people who are unfamiliar with home buying. But that's also applicable to people who are not even our members," Romero said.
Latino Community served as the executive producer of the $40,000 film project, with Romero picking up a producer credit. Romero said roughly 2,000 copies will be sent to other credit unions and community organizations to promote financial education in what the credit union hopes will be considered an entertaining-and effective-fashion.
Romero said advance viewings have gotten positive reviews from the university and city officials from Durham. Both Duke University and the City of Durham helped sponsor the Oct. 21 premiere.
For info on the film:
www.cooperativalatina.org.
