Peter Alvarez (left), emerging markets manager for Redstone FCU, Huntsville, Ala., and Laura Castro de Cortes, vice president of alternative financial services for Centris FCU, Omaha, Neb., discuss their institutions' success in serving the underserved Wednesday at BAI's 2013 Retail Delivery Conference in Denver.
"About 40% of the households in the Huntsville, Ala., area are either unbanked or underbanked," Alvarez says.
Redstone FCU created Right Choice Money Services outlets to provide affordable check-cashing, bill-pay, and other services, primarily to local Hispanic consumers.
"We're a credit union," Alvarez says. "Our mandate is to serve people of modest means."
CUNA wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
After weeks of hurricanes, and now wildfires, it’s more important than ever for credit unions to be prepared for disasters. Federally insured credit unions are required to have disaster recovery and business resumption plans.