Trailblazer: Lower Valley CU Finds Keys Are Key for Underserved
For Lower Valley Credit Union, blazing a trail with its work with the underserved has meant really cluing into the lives and needs of most of its members.
“To say that LVCU is sensitive to the realities of our valley would be an understatement,” said LVCU CEO Suzy Fonseca. “We respect the realities and help provide sincere solutions. It's actually very simple: Our member's financial accomplishments are LVCU's financial accomplishments. We are all in this together.”
LVCU charges an average 13.2% interest on its used auto loans to members with lower credit, a number which it notes is 127% lower than the rates charged at many of the area car lots.
The credit union will also make used car loans for as little as $500, helping to make an essential automobile an option for even the poorest of area consumers and credit union members.