Old North News

North Carolina's Attorney General and Democrat nominee for governor is facing scrutiny ahead of the Nov. 5 election over his past past employment with Self-Help Credit Union, which has made headlines for mortgage loans to illegal aliens. 

As Stein campaigns for the governorship, concerns are mounting about the implications of his ties to a financial institution involved in a controversial practice that has drawn criticism from many voters.

Self-Help Credit Union and Self-Help Ventures Fund, part of a network led by CEO Martin Eakes, have received over $502 million in federal funds through the Treasury's Community Development Financial Institutions Fund. 

Stein began his career at Self-Help Credit Union where he focused on creating affordable housing after graduating from Dartmouth College and Harvard University Law.

The issue arises as North Carolina voters express strong opposition to immigration, with recent polls showing that nearly 90% believe it negatively impacts the state's quality of life.

Self-Help Credit Union is one of the institutions that has been highlighted for facilitating taxpayer funded loans to illegal aliens, raising ethical questions about Stein's connection to the organization.

In an effort to clarify Stein's stance on this matter, Old North News reached out to the Attorney General's office multiple times. 

However, the office did not meet the deadline, leaving several key questions unanswered. 

Specifically, Old North News sought Stein's position on lenders providing loans to illegal aliens, whether he is aware of Self-Help Credit Union's activities in this area and if his past employment would present a conflict of interest in any potential future investigations involving the credit union.

As the election approaches, the silence from Stein's office raises concerns about transparency and accountability. 

The potential implications of his previous role at Self-Help Credit Union could become a focal point in the campaign, as North Carolinians weigh their options at the ballot box next week. 

Old North News previously reported two North Carolina credit unions, Stein’s former employer Self-Help Credit Union the Latino Community Credit Union (LCCU) are providing mortgages to illegal aliens, raising concerns among voters who overwhelmingly oppose immigration's impact on their quality of life.

A recent poll revealed that "nearly 9 in 10 North Carolina voters believe immigration does not make the quality of life better," with only 13% seeing a positive effect. 

Despite these sentiments, Self-Help Credit Union is reportedly helping undocumented immigrants obtain tax ID numbers to secure loans. 

In May, Restoration News reporter Victoria Manning investigated the loans.

“We were provided with this link and were informed the client would ‘need to have at least a tax ID’ and they even offered to process the tax ID on behalf of the client,” Manning said.

Meanwhile, Self-Help Credit Union is noted for helping undocumented immigrants cover costs associated with DACA applications and citizenship processes, highlighting a broader trend of financial institutions navigating federal guidance to extend loans irrespective of immigration status.

Consumer Financial Protection Bureau Director Rohit Chopra has asserted that using immigration status to discriminate against loan applicants is illegal. 

"Immigration status can’t be used as some sort of pretext to discriminate against people illegally," Consumer Financial Protection Bureau Director Rohit Chopra, an appointee of President Joe Biden (D), in a June hearing before the U.S. House Financial Services Committee.

However, the implications of these lending practices raise questions about potential voting eligibility for illegal immigrants in North Carolina, where current law prohibits non-citizens from voting. 

Dr. Andy Jackson of the John Locke Foundation remarked on enforcement difficulties, emphasizing that “even though it’s a felony to lie on a voter registration form about the status of your citizenship, it’s difficult to enforce.”

Concerns have also been echoed by Republican leaders, including Senator J.D. Vance, who warned of fiscal risks for lenders. 

“If someone is deported to their home country, how is a bank in Ohio supposed to recoup the loan it was forced to issue?” Vance and the others said in a letter.

Notably, CDFI Program Manager for the New Markets Tax Credit Program which facilitates loan to the Self-Help Credit Union, Christopher Allison, also formerly worked for Self-Help Credit Union.