Contacts: Rafael Morales, 212-809-1850 ext. 206
rmorales@cdcu.coop
 

Federation’s 32nd Annual Meeting & 4th Latino CU Conference in Durham Honors Heritage of CDCUs

(May 23, Durham, NC)  Almost 100 years ago, a group of French-Canadian immigrants in Manchester, New Hampshire banded together to organize a cooperative institution to meet their financial needs.  Thus, in 1908 St. Mary’s Bank CU became the first credit union chartered in America.  The story of St. Mary’s and other credit unions serving immigrants will be the focus of the opening session at the National Federation of Community Development Credit Unions’ (the Federation’s) 4th Latino Credit Union Conference (June 7-8) and 32nd Annual Meeting (June 8-10) taking place in a few short weeks at the Durham Marriott at the Civic Center in Durham, North Carolina.

“The theme for this year’s conference is ‘Honoring Our Heritage, Focused on the Future,’ and the Federation hopes to reconnect credit unions with the original ideals of the credit union movement,” explained Rafael Morales, Communications Officer at the Federation.   “Known as the cooperative principles, the philosophy is simple: voluntary and open membership; democratic member control; members’ economic participation; autonomy and independence; education, training, and information; cooperation among cooperatives; and concern for community.”

Conference organizers will pay particular attention to the local history of CDCUs and the roots of the credit union movement in the United States.  Accordingly, the opening session of the 4th Latino CU Conference on June 7 will feature presentations from Ronald Rioux, President of St. Mary’s Bank CU (Manchester, NH); Harriet May, President of Government Employees’ Credit Union (El Paso, TX); and Luis Pastor, CEO of Latino Community Credit Union (LCCU) in Durham, NC. 

In 1908 St. Mary’s Bank CU became the first credit union chartered in America.  Mr. Rioux’s presentation will discuss how and why a group of French-Canadian immigrants banded together to organize a cooperative institution to meet their financial needs. 

That same session will also highlight the work of Government Employees of El Paso an early pioneer in serving Latino families and individuals in a city located on the Mexican border.

The Latino Community CU has been one of the fastest-growing start-up credit unions in the country.  In just six years the credit union has grown to $25 million in assets, serving more than 45,000 members with 5 branches across the state.  Mr. Pastor’s presentation will highlight some of the innovative programs and services the credit union has developed in order to meet the financial needs of Latino immigrants in their North Carolina.

More than 250 participants from credit unions, government and regulatory agencies, non-profits and foundations are expected to attend the Federation’s meetings to share knowledge and learn about the latest trends.  Conference speakers include United States Treasurer Anna Escobedo Cabral and United States Senator Elizabeth Dole.

Leaders of the credit union movement will also be well-represented through presentations by NCUA Vice-Chairman Rodney Hood, NCUA Board Member Gigi Hyland, CUNA Chairman Juri Valdov, Texas CU League President Dick Ensweiler, NAFCU President Fred Becker, and many more.

To learn more about the conference, visit the Federation’s website at: www.cdcu.coop/i4a/pages/index.cfm?pageid=972.