By Guadalupe credit union
Many coronavirus stimulus checks are going to people who have no way of cashing them. In New Mexico, several credit unions are stepping up to offer free cashing of those checks for those who do not have a bank or credit union account.
In Santa Fe, Guadalupe Credit Union will be partnering with Somos Un Pueblo Unido, Properity Works, Catholic Charities, and other community partners, to make sure that those who are un-banked can get access to much-needed federal stimulus checks.
“This money is needed badly by many in our community, and we don’t want to see people lose up to 12 percent of their money at a check cashing place just because they don’t have an account,” said Winona Nava, Guadalupe Credit Union President/CEO. “This money may be the difference between someone getting groceries and not, paying the rent, or maintaining a safe place to live.”
Anyone with a government-issued ID can get his or her stimulus check cashed at any Guadalupe Credit Union branch.
The Federal Reserve estimates that up to 55 million Americans do not have a bank or credit union account. These individuals often are pushed to predatory lenders and unregulated financial providers that take advantage of them. Guadalupe Credit Unionis taking a stand by offering this service to our community. We also have Financial Coaches that are available to help individuals get on their feet and on their path to financial wellness and freedom. Call our nationally-certified Financial Coaches at (505) 216-0507, or start a free online session at www.guadalupecu.org/financial-coaching.