HarborOne Credit Union has proved it is meeting the needs of low and middle income people, Congressman Barney Frank and chairman of the House Financial Services Committee (D-Mass.) said Friday.
Frank attended the opening of the CU's HarborOne U, a new center that will offer seminars on youth financial literacy, first-time home buyers, credit counseling, retirement and estate planning. The center will also offer custom programs for small businesses, women and young adults.
"They have a commitment to a better community, making sure people in the middle ranges and below middle ranges of income are fully served. This is an example of it," Frank said of credit unions and HarborOne U. "What would be a wise financial decision for some people would be an unwise one for others. That's why what HarborOne is doing is so important."
HarborOne CU President/CEO James Blake said HarborOne U opened its doors at the right time.
"Given the state of the economy over the past few years, it's evident that there is a tremendous need and desire for financial information and education. That need spans all economic levels and cultures."
The $1.8 billion HarborOne in Brockton, Mass. also opened its Multicultural Banking Center in 2007 to help low and middle income communities with issues such as foreclosures and predatory lending.