North Jersey FCU Relocates Newark Branch, Adds Immigrant Friendly Services to its Menu of Financial Products

NJCFU Hosts Ribbon-Cutting Ceremony and Receives Newark Proclamation as a Juntos Avanzamos Credit Union

NEWARK, N.J. – As a newly designated Juntos Avanzamos credit union, North Jersey Federal commemorated the relocation of its Newark branch from the Rutgers University trailers (on Bergen Street) to 186 West Market Street in the upper level of the University Shopping Mall with a ribbon cutting ceremony last week.

(Left to right) Helen Mault, Vice Chair, North Jersey Federal; Ray Ocasio, Exec. Director, La Casa de Don Pedro; Jacqueline Quiles, Deputy Mayor of Community Engagement; Lourdes Cortez, President/CEO, North Jersey Federal Credit Union; James Giffin, Chief Marketing Officer and Rich Garcia, Chief Growth Officer at North Jersey Federal.

In attendance was Deputy Mayor of Community Engagement, Jacqueline Quiles, who presented a proclamation acknowledging North Jersey Federal as a member-owned, not-for-profit financial cooperative serving over 27,000 members in New Jersey and recognizing its new status as a Juntos Avanzamos (Together We Advance) credit union. 

“As a Juntos Avanzamos credit union, North Jersey Federal’s bi-lingual staff will introduce our Hispanic community to the financial services they desperately need,” said Deputy Mayor Jacqueline Quiles.

Nearly 1 out of every 2 Hispanic households are unbanked or underbanked. Nearly 70% of unbanked Hispanic households have never had an account and are typically higher users of alternative financial service providers making them extremely vulnerable to predatory financial practices. As a designated Juntos Avanzamos credit union, North Jersey Federal Credit Union will address this issue and offer financial products and services to Hispanic immigrant and other immigrant communities in Newark, NJ. 

North Jersey Federal is the first credit union in New Jersey to earn this prestigious designation, which has been given to only 62 credit unions primarily in the west/southwest areas of the United States. The designation recognizes North Jersey Federal as an immigrant-friendly financial institution serving the Hispanic community and immigrant communities. Most notably, the designation will support North Jersey Federal’s efforts to expand its culturally-sensitive products and services to Hispanic immigrants including its use of the flexible Customer Identification Program that allows North Jersey Federal to provide loans to individuals who have Individual Tax Identification Number (ITIN) Cards or Matriculate Consular Cards (given to Mexican immigrants by the Mexican Consulate). 

“This designation, as a Juntos Avanzamos credit union, will strengthen North Jersey Federal’s capacity to offer products such as checking and savings accounts, home buyer residential mortgages, credit builder loans, and more,” states Lourdes Cortez, President/CEO of North Jersey Federal.

“More importantly as an immigrant-friendly credit union in our new branch location, we can ramp-up our efforts to help immigrants and the Hispanic community access financial services legally.”