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These options will not make you want to be in famous banks.
Many immigrants know how complicated, but necessary, it can be to open a bank account. The group of foreign Latinos are one of the most forgotten ethnic groups in the United States. But recognized banks are not the only ones that can offer you this type of service, there are also credit unions which, by their nature, are usually the easiest options where the Latino community can open a bank account.
Credit unions are non-profit financial institutions that function similarly to banks in that they offer loans, checking and savings accounts. They act as organizations that provide these services for members who join and become a part of their owners, which is why cooperatives usually charge cheap rates or do not charge them at all, have low interest rates for their loans and higher yields. High benefits for all its partners.
It should be noted that credit unions are often very local entities that are limited to operating within a county or state. For this reason, we show you the best credit unions based on the extensive list presented by Stilt and where Latinos can open their bank accounts, depending on the state in which they live.
This cooperative offers loans with an annual rate of return (APR) of 7.07% for young people who are trying to obtain their first credit history under this cooperative.
Within its services it has general assistance, deferred loan payments and assistance with the Small Business Administration ( SBA ) paycheck protection program . This option is ideal for emergency loans.
This credit union was created precisely to provide affordable loans to Latinos who have become victims of the region’s all-too-common wildfires and other types of natural disasters.
Self-Help Federal Credit Union
This cooperative has branches in Florida that can help with a loan for any emergency. For this reason, this cooperative is one of the most important and recognized in the United States.
Cooperatives are uncomplicated in their service. Not the case with this one. Every penny counts here, so you have a fairly simple application that is convenient to use.
Suncoast Credit Union is one of the largest credit unions in Florida, making it the perfect choice if you’re looking for large deposits and attractive rates.
In New Jersey
If you’re looking for efficient online banking in New Jersey, this option should be your first stop. Check their services and convince yourself that it is the best for you.
The Federal Credit Union of North Jersey is also a fantastic option if you are looking for good credit options in New Jersey.
In New York
The mythical Brooklyn could not stay out of any support for minority people, which is why this cooperative is one of the most popular options to obtain loans at very affordable rates.
Latinos can get many benefits from using this credit union, which provides fast deposits and attractive rates.
This cooperative is distinguished by its attractive plans for quick retirement, where they provide special attention to members of the Latino community.
Although its support base is in this city, it offers various discounts on its loans, regardless of your place of origin.
Beacon Federal Credit Union has everything you could expect from great banking, from a great digital experience to very attractive rates.
As its name implies, it is ideal for those who want to open a savings account for the first time and have had their doors closed elsewhere like Latinos. It also handles very affordable rates for its members.