Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
N Y CUs take steps to grow Hispanic membership
DES MOINES, Iowa (12/11/12)--Four New York credit unions are taking steps to serve Hispanic members in the inaugural Hispanic Member Growth Strategy Program, a program of the Credit Union Association of New York (CUANY) and Coopera.

Coopera, a firm that helps credit unions reach the critical Hispanic market, will provide resources and counseling to New York credit unions working to grow their Hispanic membership in the program.

The program helps small (assets under $25 million) and mid-sized ($25 million to $500 million in assets) New York credit unions expand their business opportunities by serving the Hispanic market, according to Coopera CEO Miriam De Dios.

"Today, 17% of New York's population is Hispanic," De Dios said. "And by 2025, one in five New York residents will claim Hispanic heritage. Because it is a largely underserved group, yet one of the largest and fastest-growing demographics in America, helping Hispanic members navigate the U.S. financial system is important to the overall credit union mission."

Through the program, Coopera works with the credit unions to identify Hispanic outreach opportunities in their neighborhoods and create affordable banking alternatives to meet the needs of this community. Credit unions participating in program include:

  • Cooperative FCU of Syracuse;
  • Entertainment Industries FCU of New York City;
  • Bridgeway FCU of Poughkeepsie; and
  • MSBA Employees FCU of Rockville Centre.
Compared with other U.S. ethnic groups, the Hispanic population is very young, according to Allison Barna, director of the New York Credit Union Foundation and Community Development for the association.

"New York credit unions looking to lower the average age of their membership must consider investing in these members as a part of their overall efforts," Barna said, noting that the program "gives them access to Coopera's expertise, including identifying outreach opportunities within their neighborhoods, as well as creating affordable banking alternatives to meet the needs of Hispanic members within their community, at a significantly reduced price."


RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 day ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 day ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 day ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
1 hour ago