<p>RALEIGH, N.C. – GE Mortgage Insurance and the Latino Community Credit Union have teamed up to fight against predatory lenders by focusing on educating the Hispanic population here. "Predatory lenders often exploit the language and cultural barriers that exist in the Latino community for their own economic gain," said LCCU Chairman John Herrera. "Teaming with GE will allow us to get valuable information out to our constituents. It might even save the homes of some of them." GE is providing 10,000 Get the Facts brochures in English and Spanish for distribution to LCCU branches in Durham and Charlotte. LCCU will also make the brochures available to Latino community centers throughout North Carolina. Developed a year ago, the brochure explains predatory lending, warns readers what to look out for and provides information on additional available resources. The joint education effort is designed to help consumers differentiate between the vast majority of legitimate lenders and the few that are out to take advantage of the unsuspecting.</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.