Tuesday, June 09, 2009

Struggling Latino CU in Phoenix Merges

Jim Rubenstein
The $3.5 million Chicanos Por La Causa Federal Credit Union of Phoenix has become the latest victim of the Arizona economy, formally merged this month into its Latino rival, the $27 million Marisol FCU.

“Conditions could not have been much worse for a credit union whose members are involved in real estate construction and related fields,” said Robin Romano, president/CEO of Marisol and who since last July has been serving as interim manager for the struggling Chicanos Por La Causa.

The CU was founded by a Phoenix-based Latino nonprofit group and is a member of the National Federation of Community Development Credit Unions. Read More Here.

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