Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DURHAM, N.C. – Latino Community CU, with the help of the Federal Home Loan Bank of Atlanta, has provided $169,500 in home mortgage aid to 34 low-income families. To qualify for the mortgage assistance, the member must use the purchased home as their primary residence. The funds are provided as an interest free loan, and the principal is written off as long as the buyer remains in the home. If the member stays in the home for five years, 100% of the loan is written off. Additionally, FHLB of Atlanta provides a 1 to 3 match, up to $5,000. For every amount provided by the buyer, FHLB of Atlanta provides triple the amount. LCCU Durham Branch Manager Liliana Concha said FHLB of Atlanta’s assistance will make it possible for many of the $22.5 million CU’s members to become homeowners because many of them “don’t have the resources for a down payment.” LCCU has more than 40,000 members. It has provided 2,000 members with credit-builder loans, 8,000 members with consumer loans and helped 150 families become homeowners.

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

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • 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.

Already have an account?

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.