Latino Community Credit Union

What Latino Community Credit Union does

Latino Community Credit Union (LCCU) is a federally insured, member-owned, not-for-profit credit union founded in 2000 in Durham, North Carolina, as a grassroots response to robberies of Latino immigrants. It operates today with over $1.2 billion in assets, 16 branches across North Carolina, and approximately 220,000 members originating from 137 countries. The institution is a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury, holds Minority Depository Institution (MDI) and Low-Income Credit Union designations, and operates under NCUA federal insurance. Its primary mission is providing accessible financial services to unbanked and underbanked Latino and immigrant populations, with 65% of members previously unbanked and 35% establishing credit for the first time through LCCU.

LCCU's core technology stack centers on LatinoConnect, a bilingual (English/Spanish) digital banking platform supporting online and mobile banking via iOS and Android, with biometric authentication, mobile check deposit, member-to-member transfers via proprietary member codes, real-time fraud monitoring, and bill pay. The product portfolio spans savings and checking accounts, money market, share term certificates, IRA products, youth and children's savings, personal and secured loans, auto loans, mortgages, Visa credit cards, plus specialty immigration products (Immigration Assistance Loans up to $20,000 and Dreamer Loans with same-day $605 DACA fee financing). Lending operations use alternative credit data (rent, utility payments) and accept ITIN documentation. Mortgage lending extends beyond North Carolina into South Carolina, Virginia, and Georgia. Operational automation is supported by a ReconArt AI-enhanced reconciliation platform implemented since 2018, achieving 90% reductions in month-end reconciliation time.

The business model is a cooperative: revenue derives from net interest income on the loan portfolio (mortgage, auto, personal, credit cards, specialty immigration loans at APRs ranging from 6.00% on credit-builder loans to 16.25% on unsecured Visa cards), supplemented by transaction fees (overdrafts at $20, wires at $10–$25, out-of-network ATM transactions at $0.35–$0.75) and modest monthly account maintenance fees with multiple waiver paths. As a not-for-profit, profits are returned to members through better rates and lower fees. Go-to-market is community-led, combining bilingual financial education workshops held twice yearly (April and October), telenovela-format educational content (the proprietary Dreams series), scholarship programs (350+ awards, $1M+ since 2016), employee charitable giving ($213,200 since 2015), and the Latino Community Development Center (LCDC) nonprofit partnership that channels members into the credit union. Distribution blends 16 branches, the member service center, ATM network partnerships (Co-OP, Dolphin Debit, CashPoints), and the LatinoConnect digital platform.

Name

Latino Community Credit Union

Legal name

Latino Community Credit Union

Website

https://latinoccu.org

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

Latino Community Credit Union is a federally insured, not-for-profit CDFI credit union serving over 220,000 primarily Latino and immigrant members across North Carolina and the U.S. Southeast, providing bilingual banking, alternative-credit lending, ITIN loans, mortgages, and award-winning financial education to unbanked populations.

Ownership category

akta.pro rank

Product category

Community Development Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Community Development Credit Unions (CDCUs) (FSABAEAC), Financial & Consumer Integration (Banking, Credit, Taxes) (EDAAADAG)

Keywords

• Community development banking
• Bilingual financial services
• Credit union lending
• Immigrant banking services
• CDFI certified lending

Headquarters

HQ city

High Point

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on mortgage loans, auto loans, personal loans, credit cards, and secured loans. Credit union operates on not-for-profit model with profits returned to members through better rates and lower fees.
2. Deposit Account Fees: Monthly maintenance fees on certain accounts (checking $5, money market $5, IRA $2, business accounts $10), with fee waiver options for meeting balance or activity thresholds.
3. Transaction Fees: Fees for overdrafts ($20), out-of-network ATM transactions ($0.75 completed, $0.35 incomplete), wire transfers ($10 domestic, $25 international), and excess transactions.
4. Technology Services: ReconArt reconciliation platform implementation for internal operations, achieving 60-80% time savings on reconciliation tasks.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Latino Community Credit Union is a not-for-profit, CDFI-certified credit union that provides bilingual (English/Spanish) retail banking products and services to unbanked and immigrant communities. Its core offerings include deposit accounts (savings, checking, money market, share term certificates, IRAs), consumer loans (personal, auto, mortgage, secured loans, immigration assistance loans, Dreamer loans), Visa credit cards (secured and unsecured), and business banking accounts. Membership also includes ITIN Certified Acceptance Agent services, free notary services, free FICO score access, and bilingual financial education workshops.

Product overview

Latino Community Credit Union (LCCU) offers a comprehensive suite of financial products and services through its digital banking platform LatinoConnect. The core offering includes personal and business deposit accounts (savings, checking, money market, certificates of deposit, retirement accounts), various loan products (personal, auto, mortgage, immigration assistance, and specialty Dreamer loans), and credit cards (secured and unsecured Visa options). The digital platform provides 24/7 account access, wire transfers, and mobile banking through iOS and Android apps. LCCU distinguishes itself with bilingual services, ITIN support, free notary services, award-winning financial education workshops, scholarship programs, and community impact initiatives. The credit union operates primarily in North Carolina with mortgage lending extending to SC, VA, and GA.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Account Basic savings account with $10 minimum deposit, competitive interest rates, and free CO-OP ATM access, available to individual members.
• Money Market Account

Quantifiable outcome

• 90% reduction in month-end reconciliation time (40 hours to 4 hours)
• +5 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature6 records

Partnerships

15 partnerships are on record, tiered core, standard, flagship and minor.

• ReconArtcoreTechnology or Integration · 1 January 2018Reconciliation technology platform partnership since 2018. ReconArt's AI-enhanced automation enables 90% reduction in month-end reconciliation time (from 40 hours to 4 hours), processes over 1 million transactions per minute, and supports NCUA compliance requirements. LCCU achieved ROI within 4-6 months and reports 60-80% overall time savings.
• Co-OP Financial ServicescoreTechnology or IntegrationATM network partnership providing free cash withdrawals, balance inquiries, and deposits at participating ATMs nationwide. Co-OP network enables LCCU members to access fee-free transactions across the country.
• Dolphin DebitcoreTechnology or IntegrationATM network partnership expanding fee-free access for LCCU members. Combined with Co-OP network, provides extensive nationwide ATM coverage.
• State NationalstandardTechnology or IntegrationInsurance tracking provider partnership through MyLoanInsurance.com platform. Monitors auto insurance coverage for members with vehicle loans, sends notifications for missing or lapsed coverage, and facilitates proof of insurance submission.
• FICOstandardTechnology or IntegrationCredit scoring partnership providing FICO Score 8 access to members with loan products. LCCU provides free score access through LatinoConnect, partnering with FICO and Equifax.
• EquifaxstandardTechnology or IntegrationCredit bureau partnership with FICO for providing credit scores and credit history reporting to members. LCCU reports secured loan payment history to Equifax.
• Latino Community Development Center (LCDC)flagshipStrategic or Co-development PartnerNonprofit partner created in 2002 providing membership pathway to LCCU. LCDC advances financial literacy and economic development for low-income communities in North Carolina, running free bilingual financial education workshops that serve as field of membership for the credit union.
• The Support CenterflagshipStrategic or Co-development PartnerFounding partner in LCCU's establishment in 2000 as part of grassroots movement to serve unbanked Latino immigrants in Durham, NC.
• El Centro HispanoflagshipStrategic or Co-development PartnerFounding partner in LCCU's establishment in 2000. Community organization focused on Latino advocacy and services, instrumental in responding to robberies and muggings of Latino immigrants.
• NC State Employees' Credit UnionflagshipStrategic or Co-development PartnerFounding partner providing support and guidance for LCCU's establishment in 2000, sharing credit union expertise with the new institution.
• Self-Help Credit UnionflagshipStrategic or Co-development PartnerFounding partner supporting LCCU's establishment in 2000, bringing community development finance expertise to the partnership.
• KIPP DurhamminorOthersEducation nonprofit receiving donations through LCCU's Employees Giving Back program since 2015.
• El Centro HispanominorOthersCommunity nonprofit receiving donations through LCCU's Employees Giving Back program.
• Inter-Faith Council for Social ServiceminorOthersSocial services nonprofit receiving donations through LCCU's Employees Giving Back program since 2015.
• Book HarvestminorOthersLiteracy nonprofit receiving donations through LCCU's Employees Giving Back program since 2015.

Scale indicators15 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• VyStar Credit Union: Large US credit union (~$11B+ assets) with full retail deposit, consumer loan, mortgage, and digital banking suite. Comparable credit-union balance-sheet structure and revenue mix (interest income, deposit fees); diverges on niche immigrant focus and CDFI status.
• Coastal Federal Credit Union: Large North Carolina-based credit union with statewide retail presence and similar product set (deposits, consumer loans, mortgages, cards). Competes for the same NC consumer members with a broader, less specialized value proposition.
• State Employees' Credit Union (SECU): Largest credit union in North Carolina with full statewide branch network and broad consumer/mortgage offering. Direct overlap in NC geography and retail deposit/lending products, though member-base composition (state employees) and mission diverge from LCCU's immigrant-focused thesis.
• Unify Financial Federal Credit Union: Large US credit union with consumer deposit, lending, mortgage, and digital platform offerings. Comparable credit-union economics, deposit/loan mix, and digital banking capability; useful for product and pricing benchmarking at scale.
• Bellco Credit Union: Mid-size regional credit union offering a similar deposit, consumer loan, mortgage, and wealth product suite. While geographically distinct (Colorado), financial structure, member-cooperative model, and product depth are analogous for benchmarking.
• Digital Federal Credit Union (DCU): Large national credit union with digital-first banking, consumer lending, and mortgage products. Comparable product breadth, deposit/loan economics, and self-serve mobile platform (LatinoConnect analog) — useful as a benchmark for digital CX expectations.

Direct peers

• Hope Credit Union (Hope Enterprise Corporation): CDFI/MDI-designated credit union serving underserved communities across the Deep South with bilingual services and alternative-credit underwriting. Highly comparable mission of financial inclusion for low-income and minority populations, with similar deposit-driven not-for-profit economics.
• Self-Help Credit Union: North Carolina-based CDFI and founding partner of LCCU. Operates a similar community-development mission serving low-income and minority borrowers, with comparable deposit/loan products and bilingual capacity in parts of its footprint. Most directly comparable institution to LCCU on mission, geography, and product set.
• OneMain Financial: Large consumer-credit institution focused on personal loans to non-prime borrowers, including those without traditional credit history. Strongly comparable on alternative-credit underwriting and serving subprime/credit-building customers, though OneMain is for-profit and lacks deposit-taking.

Emerging players

• Oportun: Hispanic-focused consumer-finance fintech serving underbanked immigrants with personal loans, credit-building, and digital banking. Direct competitor for the same unbanked Latino customer segment, though structured as for-profit fintech rather than cooperative credit union.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCQ8mezFISpsSc87RyQw1nNw
• Facebookfacebook.com/latinocommunitycu
• LinkedInlinkedin.com/company/latino-community-credit-union
• Instagraminstagram.com/latinocreditunion

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Latino Community Credit Union