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CDCU News and Events:
Credit Union News! Download the latest newsletters for First
Legacy Federal Credit Union and Latino
Community Credit Union.
Federation Accepting Registrations for Mortgage Lending Workshop
NCUA Vice Chairman Hood Encourages Prospective Homeowners Despite the Subprime Upheaval
Press
Releases
Local Students Visit “Credit Union Row” During National Youth Credit Union Week (April 20-16)
Latino Credit Union Introduces Fixed Rate Mortgage Loans
Support Center To Sponsor Youth Tours During National Youth Credit Union Week (April 20-26)
Hood Encourages Partnerships to Facilitate Homeownership for the Underserved
Federation Accepting Registrations for Mortgage Lending Workshop
Only a Few Slots Available for Upcoming Session in Durham, NC
In the last six months, the U.S, economy has changed dramatically. Major banks have been forced to take billions of dollars in write-downs and credit is tightening across the board, and while credit unions have been slightly less affected, many of your members may be wondering how they will be able to keep their dream homes.
If your credit union is trying to help, here are a few questions to ask yourselves:
· Has my credit union developed an acceptable mortgage strategy for 2008?
· How will credit risk, falling interest-rates, and my credit union's liquidity impact our mortgage lending goals in 2008?
· Do we need a specialized mortgage product for non-traditional or unique properties, such as coops or manufactured homes?
· Does our credit union want to serve good borrowers that may not have stellar credit but still deserve safe loans they can afford?
If you answered “YES” to any of these questions, then you cannot afford to miss the Federation’s upcoming workshop: Mortgage Lending Strategies in Uncertain Times, March 18-19, 2008 at the Center for Responsible Lending in Durham, NC.
Speakers include NCUA Vice-Chairman Rodney Hood, who will highlight the vital role played by credit unions as affordable and responsible lenders, and ACUMA President Bob Dorsa, who will talk about the future of credit unions in the mortgage market.
Topics will include:
· The state of the housing industry
· Innovative lending products
· Best practices from across the country
· How to sell loans to the CDCU Mortgage Center, LLC
· Servicing options
· Underwriting updates
· Compliance updates
Homeownership is still the key to financial stability and your members deserve a chance. Register today, space is limited!
For more information and to register, please visit our website, www.cdcu.coop or contact Dan Apfel, Education and Training Program Associate, at dapfel@cdcu.coop, or at (212) 809-1850, x220.
Angélica’s Dreams, the first Latino feature film to come out of North Carolina, boldly mixes financial education and fiction
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Durham, NC - Los Sueños de Angélica (Angélica’s
Dreams), the first Latino feature-length independent film
made in North Carolina, was screened on Sunday, October 21
at the
Carolina Theatre in Downtown in Durham. The presentation,
was sponsored by Duke University and the City of Durham.
Angélica’s Dreams is the film version of Latino
Community Credit Union's three-part dramatic mini series
dedicated to financial education. The primary purpose of
the video is
to show community members, and the general population, the
process of buying a home. Latino Community Credit Union (LCCU)
produced it with a grant from the CDFI Fund, a program of
the United States Treasury Department. LCCU contracted Rodrigo
Dorfman's creative services as producer and director.
Los Sueños de Angélica is the moving story of
an immigrant couple from Latin America, Angélica and
Roberto, who are discussing whether to return to their home
country or stay in the United States. With an unexpected
event, everything changes and the couple is faced with the
difficult
realization that one of them will have to sacrifice their
dream for the other.
The film is part of LCCU’s groundbreaking Home Buyer
Education (HBE) program. These materials consist of an HBE
Guide and the companion video series. LCCU will provide 25,000
copies of the guide and 1,200 copies of the video to be used
throughout the United States by other credit unions, community
centers, and other organizations, thereby increasing its
effect far beyond North Carolina.
"
At LCCU we recognize that the overwhelming majority of our
more than 50,000 members have little or no experience with
financial services and therefore need extensive financial education
to integrate into the mainstream U.S. financial system," says
Angel Romero, Director of Marketing and Communications at LCCU. "Financial
literacy is a fundamental part of LCCU's mission. All of
our products are designed to promote financial education
in the
community as well as meet the unique needs of members. Using
video to educate our members, and the community in general,
is a fabulous tool to spread our message."
Boldly mixing documentary and fiction, telenovela and comedy,
director/producer Rodrigo Dorfman shot the film entirely
on location in Durham, North Carolina, plunging his main
characters
deep into the daily life of one of the most vibrant new Latino
communities in the U.S. Angélica’s Dreams takes
you into butcher shops, construction sites, churches, music
festivals, bars and real estate offices. There are no guns
here, no drug dealers, no gang members, no gratuitous violence
or foul language, only the turbulent, unexpectedly humorous
lives of everyday people struggling to enter the mainstream
of American society.
"The experience of making Angélica’s Dreams
has been exhilarating and I hope it can serve as a model to
anyone
interested in the possibility of creating socially relevant
low budget/high quality grassroots film from within a Latino
community", says director Rodrigo Dorfman. “LCCU
took a chance with this experiment and I can't thank them
enough for this wonderful opportunity.”
Duke University organizations are encouraged students, faculty
and staff to attend the premiere. Duke’s Community Service
Center provided transportation for students and Latino/a Studies
coordinated ticket distribution for Duke students, faculty,
and staff. “In addition to the financial education component,
this film provides an opportunity to approach topics that span
a wide variety of academic disciplines and that are also integral
to service learning, the linking of theory and practice which
is gaining steam on campus," said Jenny Snead Williams,
coordinator of Latino/a Studies, who is helping to coordinate
panel discussions related to the movie's themes. "Angelica’s
Dreams is a useful tool for creating a sense of connection
to Latino/a community members, a growing group of neighbors
whose determination and work ethic are exemplary.”
The screening was sponsored by Latino Community Credit Union,
the City of Durham Department of Community Development, and
the following Duke University Departments: Latino/a Studies
at Duke, The Multicultural Center, Community Affairs, the Institute
for Critical US Studies, Center for Latin American and Caribbean
Studies, Spanish Service Learning, Duke Women's Studies Program,
Center for Documentary Studies, Terry Sanford Institute of
Public Policy, the Community Service Center, and the John Hope
Franklin Center for Interdisciplinary and International Studies.
Latino Community Credit Union is a community development credit
union that provides competitive interest rates for deposits,
affordable loans, and financial education. Based in North Carolina,
LCCU is the first bilingual, multicultural financial institution
in North Carolina that provides all of its services to its
members in Spanish and English, without discriminating in pricing.
Founded in 2000 in Durham, the credit union has 5 branches,
located in Durham, Charlotte, Raleigh, Greensboro and Fayetteville.
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