Editor’s note: A few years ago, I attended a personal finance course offered by the Latino Community Credit Union. I was impressed then and still am with the effort the LCCU puts into working with the Latino community and coaching those new to the United States through the intricacies of a complex banking system. Here is the text of the story as it appeared in the Raleigh News & Observer in November 2010.

 Latino credit union helps Hispanics make sense of the U.S. economic system

By Lucy Hood

Liliana Concha Pérez is a stickler for paying credit card bills on time, for not accumulating debt, and for making sure that both her customers and her students understand the potential pitfalls.

“I have never made a late payment,” she told a small group of immigrants gathered at the main office of the Latino Community Credit Union in Durham. “And I am proud of that.”

Concha Pérez is manager of the LCCU’s branch office in Durham. She also conducts workshops offered by the credit union to help its largely Hispanic client pool grasp the basics of personal finance.

Throughout a recent seven-week course there was one recurring theme: the enormous difference between personal finance practices in the United States and in Latin America.

“In the United States,” Concha Pérez said, “it is extremely important to have a credit record.”