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."
The Office of the Inspector General for the U.S. Postal Service has issued a report examining the possibilities of the USPS offering affordable financial services products, with credit unions included in the mix.
ATLANTA (5/28/15 UPDATED 6:26 p.m. ET)--A consolidated class action complaint in the lawsuit against Home Depot was filed today in the U.S. District Court for the Northern District of Georgia and now includes more than 60 named plaintiffs, including CUNA.