Marine Credit Union receives Juntos Avanzamos designation
LA CROSSE, WI (October 13, 2017) — Marine Credit Union has become the first credit union in Wisconsin to receive the Juntos Avanzamos (“Together We Advance”) designation.
Originating in 2005, Juntos Avanzamos recognizes commitments from credit unions seeking to empower the Hispanic consumer and serve the Hispanic market more effectively. To qualify, credit unions must demonstrate that they have flexible loan underwriting and CIP policies, offer affordable credit, savings and transaction services, and make their products, services and financial education accessible to Spanish-speakers. The National Federation of Community Development Credit Unions (“the Federation”) leads a nationwide expansion of the program in collaboration with a number of other industry partners.
Pablo DeFilippi, Senior Vice President at the Federation said, “Marine Credit Union is the first credit union in Wisconsin to join Juntos Avanzamos and we salute their leadership, vision and commitment to financial inclusion that will increase asset building opportunities for the Hispanic community.”
In order to earn the Juntos Avanzamos designation, credit unions must complete an extensive application, requiring information about what products and services the credit union offers to specifically address the needs of the Hispanic market, as well as what strategies they are utilizing to serve this important demographic group.
As part of the designation process, the league first identifies credit unions they believe have the “capacity to serve” and then channels its resources to these specific credit unions to grow their outreach programs.
“At Marine Credit Union, we are specifically focused on serving the underserved,” said Shawn Hanson, CEO of Marine Credit Union. “We are proud to serve the Hispanic and immigrant communities here in Milwaukee – and in our markets throughout Wisconsin, Minnesota and Iowa. We believe that everyone deserves the opportunity for a better financial future.”
In October 2015, Marine introduced a lending program for individuals with Individual Tax Identification Numbers (ITINs). Since the program began, Marine has served more than 600 individuals and families, granting more than 400 auto and consumer loans and more than 100 home loans.
Marine’s business and community leaders in Milwaukee, visiting credit union industry leaders, entrepreneurs and members gathered today for a Juntos Avanzamos Flag Raising Ceremony at Antigua Latin Inspired Restaurant in West Allis, owned by Citlali Mendieta-Ramos, who worked with Marine last year to purchase her home.
The event included remarks on the Hispanic community in Milwaukee by Tammy Rivera, Executive Director of the Southside Organizing Committee (SOC). Marine also presented two $1,000 donations to organizations working to impact the lives of Hispanics in the region – SOC and the Latino Family Foundation.
About Marine Credit Union
Marine Credit Union’s roots trace back to 1931 when the first of more than 25 credit unions now part of its history was chartered. Through the years, the credit union has expanded significantly by way of organic growth and consolidations. Today, Marine is a full-service credit union, serving over 78,800 members with 21 branches across Wisconsin, Iowa, Minnesota, and Illinois, and assets over $1 billion. Marine offers a full range of traditional and non-traditional products and services focused on helping the underserved achieve their financial goals, and more than half of its loans help members with FICO scores in tiers C, D, and E. Marine’s employees are deeply committed to their mission (“advance the lives of people from a place of financial need to a life of ownership and giving back in its communities”), their core values (courage, collaboration, compassion, and commitment) and the communities they serve. Its MCU Foundation has provided grants of over $1 million to its communities and has helped many families purchase their first homes through its innovative Finding HOME program. Marine is a Low-Income Designated Credit Union and earned its Juntos Avanzamos designation in 2017 for its commitment to Hispanic individuals.
To learn more, visit https://www.marinecu.com/ and view member stories at https://www.youtube.com/c/marinecreditunion.
About Juntamos Avanzamos
Juntos Avanzamos, Together We Advance, is a designation for credit unions committed to serving and empowering Hispanic consumers, and was developed by the Cornerstone Credit Union League, which represents Arkansas, Oklahoma and Texas. The Federation, working with the Cornerstone League and Coopera, Iowa-based consultants to the industry on the Hispanic market, the Network of Latino Credit Unions and Professionals (NLCUP), the California Credit Union League and other industry partners, work together to bring the program to a national credit union audience. Visit http://www.cdcu.coop/initiatives/serving-underserved-markets/immigrants/juntos-avanzamos