DURHAM, N.C. – The $60 million Latino Community Credit Union has not let the troubled mortgage market phase them and has announced that for the first time ever it will begin offering fixed rate mortgages.
The young and very rapidly growing credit union serves a primarily immigrant membership in North Carolina.
Latino CEO Luis Pastor acknowledged that this could seem a bad time to step into the mortgage market, but countered with the observation that the CU has been making adjustable rate mortgages for some time with a very low delinquency or charge off rate.
Recommended For You
"There is nothing inherently more risky about our service to an immigrant market," Pastor said, adding that the CU had decided to begin offering fixed rate mortgages in response to member demand for them.
© 2025 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.
