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’s inaugural Fair Lending Workshop took place last week in Denver, leading to valuable discussions on compliance with the Equal Credit Opportunity Act, the Fair Housing Act, the Home Mortgage Disclosure Act and more.