Latino Community CU to partner with U.S. Treasury, USAID and Mexican CUs in major initiative
DURHAM, N.C. - In a first-of-its-kind initiative to reach "unbanked" Mexicans on both sides of the border, Latino Community CU will announce on Sept. 27 a partnership with the U.S. Treasury, United States Agency for International Development, the World Council of Credit Unions and Mexican credit unions that will allow CUs in Mexico to be able to accept money transfers from the U.S. LCCU said the initiative "could potentially" save Latino families in the U.S. $2-3 billion annually. LCCU also will announce its plans to use $1.85 million in grants from the U.S. Treasury to open its next branch in Raleigh. Among the featured speakers expected to address attendees on Sept. 27 are U.S. Treasurer Rosario Marin and Rep. David Price (D-N.C.). Signing the documents will be Adolfo Franco, assistant administrator, USAID, Latin America/Caribbean; Arthur Arnold, CEO, World Council of Credit Unions; and Ramon Imperial, CEO, Caja Popular Mexicana.