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"Unbanked" Consumers at Greater Risk for Theft

New research shows getting so-called "unbanked" people into the formal banking system can be good for the community. Alejandro Sanchez works for the Latino Credit Union in Durham. He says the study from the University of Virginia listed several advantages to bringing banking to previously unserved areas.

Alejandro Sanchez: "The individual gets benefited with saving their money and getting interest, but the community gets benefited because the value of properties increase around the areas in which credit union branches establish so that obviously benefits not only the members, but the outside community and then the rate of robberies decreases."
Sanchez says Latino Credit Unions are growing quickly in the state, serving 55,000 members.

Eric Hodge hosts WUNC’s broadcast of Morning Edition, and files reports for the North Carolina news segments of the broadcast. He started at the station in 2004 doing fill-in work on weekends and All Things Considered.
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