Credit union strives to reach underserved communities
Aug 2 â WINDHAM – The local co-op Northeast Family Federal Credit Union has worked hard this year to reach underserved communities.
Through its first-time car purchase program, ITIN loan program, and efforts to educate Hispanic and Latin communities, the Northeast Family Federal Credit Union remains true to its motto of “the people who help the people.” .
The Northeast Family Federal Credit Union does everything from savings and checking accounts to remote deposits, loans, refinancing and more.
It is part of a national program called Juntos Avanzamos, which means âtogether we move forwardâ in Spanish.
âThis is a program where we provide service to Hispanic and Latin communities,â said Northeast Family Federal Credit Union President Joanne Todd.
According to the website, Juntos Avanzamos credit unions work to serve and empower Hispanic communities.
âHispanic and immigrant consumers are a big and vibrant part of the US economy, but many shy away from financial institutions because they’ve had a bad experience in the past,â the website read.
The Northeast Family Federal Credit Union will celebrate its commitment to Juntos Avanzamos and sign a proclamation on August 20 at 4 pm at CLiCK Willimantic on 41 Club Road in Windham in conjunction with CLiCK’s âEats and Beatsâ event.
The credit union was founded on April 19, 1938 by a group of teachers from the Manchester area.
It was originally known as the Manchester Teachers Federal Credit Union and the name has changed several times.
Now there are branches at 361 Boston Post Road in North Windham and 233 Main St. in Manchester, as well as an office staffed by Manchester High School students.
The credit union has 6,100 member-owners and is governed by a board of directors, according to Todd.
Over the past year, Todd said the credit union has increased assets by $ 23 billion.
âIt’s mainly because people weren’t spending money during the pandemic and at first they were getting stimulus payments, so it’s a bit of both,â Todd explained.
Many residents have refinanced their home and auto loans with the Northeast Family Federal Credit Union, according to Todd.
âNow is a good time for people to refinance their mortgage with us. We have very low refinance fees and of course the market rates are very low, âTodd said.
At the North Windham branch, auto loans have been exceptionally popular, according to Northeast Family Federal Credit Union North Windham director Betsy De Jesus.
âOur rates are really, really good right now, so a lot of people are refinancing more because they could get a lower rate and also because they are looking to extend their payments,â De Jesus said.
The caisse continues to work with members whose financial situation is affected by COVID-19.
âWe will work with them to get them an affordable payment for their household,â Todd said.
Follow Lisa Massicotte on Twitter – @LMassicotteTC.
Northeast Family Federal Credit Union
Address: 361 Boston Post Road, North Windham
Hours: Monday to Wednesday, 9 am to 4:30 pm; Thursday, 9 a.m. to 6 p.m. Friday, 9 a.m. to 4:30 p.m. Saturday, 9 a.m. to noon Information: 860-646-8870, nefamily.coop