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MODESTO, Calif. – Food Processors Credit Union has been named 2002 Business of the Year by the Stanislaus County Hispanic Chamber of Commerce. Food Processors CU, which captured the award last year as well, serves the area’s low-income Hispanic population who work mainly in the agricultural and food processing industries. “It has taken us years to develop the trust of the Hispanic community,” said Joe Duran, president and chief executive officer. “Through our involvement in the local schools for financial literacy, scholarship fund-drives for college-bound Hispanic students and the development of numerous partnerships and collaborations, people are coming to us who have never been inside a mainstream financial institution before.” Food Processors ($35 million in assets, 10,000 members), was recently awarded the designation of community development credit union through the Treasury Department. That resulted is a grant of $592,000 from the Community Development Financial Institutions fund to open a branch in the low-income, underserved area of Riverbank.

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