Latino Credit Union is headquartered in Durham and is the 9th largest credit union in the state of North Carolina. It is also the 426th largest credit union in the nation. It was established in 2000 and as of December of 2024, it had grown to 319 employees and 144,214 members at 16 locations. Latino Credit Union has a B health rating.
Field of Membership Restrictions
Membership in Latino Credit Union is open to anyone by joining the Latino Community Development Center ($10 family membership fee).
See current membership details
Best Service Ever!
• Wish other credit union and bank provides similar excellent service.
• Yahira is a gem. She goes out of her way to accommodate me. She even replies her email on her day off.
• No credit check required for a CD
• Application approved almost immediately
• Wire funded account the next day
• 1.95% APY for a 12 months CD with minimum $200,000
• Most interesting, answers phone in Spanish, website defaults in Spanish. They do speak English.
Moderator Note: CSR's last name removed for privacy reasons.
Membership Application
Sep 29. 2023 - Live outside NC - Just tried to complete Membership Application supplying name and address and system suggests: Call us or Email us.
Interesting, considering their website says membership is open nationwide - just complete online application.
In this day and age if a Credit Union can't handle online Membership Application I go elsewhere.
Horrible Customer Service
I had an account here for a couple of years now. I used it because of the good rates originally. About 4 times a year I would transfer funds to another credit union from which I take a monthly draw.
This process became very tedious due to lack of any help from Latino. For example the other credit union faxed over a request for transfer on Monday about 2:30 p.m. Latino time to the number that was given to me from Latino. On Thursday I called to see why the request had not been taken care of. I was told by Diane that it was the wrong fax number because that was the lending department fax number but we had been using it for 2 plus years.
So I guess the lending department just put it in the garbage instead of making a phone call letting us know it was not the correct department. Diane then gave me another fax number which we used at about noon Latino time. I called about 2 p.m. Latino time and asked for Diane to make sure the fax had arrived. I was told she was in a meeting and would call me back. I called back about 4 p.m. Latino time and was told she was in a meeting and the gentleman that answered the phone told me he would make sure I was her first call after she returned from her meeting. Today is Friday the next day and it is 3 p.m. Latino time and I still have not received a call to verify they received the fax.
Friday morning I hunted down the phone number for State Employees Credit Union which is the firm that administers their IRA transactions. These folks refused to even let me speak with the IRA department but the person that answered the phone spoke with them and they assured him that they had received the request and I was in the cue but it would take 3 - 5 business days to process the request.
If this is the kind of Customer Service they provide no thanks.
To put it in perspective, when I called the credit union that does my monthly draw to have them prepare the paperwork for the transfer it went like this: Called at 9 a.m., the IRA person prepared the paperwork and faxed over to a branch 2 miles from my home by 9:45, I went and signed at 11a.m. and they faxed it to Latino by 11:30 am or 2:30 Latino time. It is now 5 days later and Latino has to have another 3-5 days to process the request to give me my money. Does that make any sense at all on any planet?
Good by and good riddance Latino.
Lack Of Service Is Off-Putting
Called three weeks ago and I could not communicate with the person who answered the phone because of language issues. I asked for a callback and left my number. No callback - so goodbye Latino CU.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68430 |
| Year Chartered | 2000 |
| Employees | 319 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 8.45% |
| Annual Interest Income | $67.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $1.05B$1.03B |
| Loans | Q4 2024vs Q4 2023 | $867.1MM$855.2MM |
| Deposits | Q4 2024vs Q4 2023 | $754.2MM$742.6MM |
| Equity Capital | Q4 2024vs Q4 2023 | $141.4MM$129.5MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $6.4MM$7.4MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $17.8MM$8MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
