New Jersey’s tax-paying undocumented immigrants who possess always been determined by cash advance and look cashing facilities for monetary assistance will have an option that is new. North Jersey Federal Credit Union recently finished a process that is two-year be designated once the state’s first Juntos Avanzamos (Together We Advance) Credit Union to give usage of near-market price interest loans — concentrating specially on mortgages, that the credit union sees a top interest in, relating to CEO Lourdes Cortez.

“We made history today,” Cortez stated week that is last the statement associated with designation.

The designation arises from the nationwide Federation of Community developing Credit Unions and has now been formerly provided to 56 credit unions within the western and U.S. that is southwest NJFCU initial in nj-new jersey to get the designation, but Cortez anticipates more will undoubtedly be on board across the state.

A person with a person Tax Identification Number, municipal identification card, or for Mexican immigrants the Matricula Consulra Cards released by the Mexican Consulate, is qualified to receive the monetary products at NJFCU which will consist of first-time house buyer home loan programs, credit builder loans and prepaid debit cards.

This provides immigrants within the state an alternate to exactly just what Cortez called predatory banking institutions which may charge just as much as 40 % interest on loans. Read more →