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Eight CUs share Hispanic strategies in new CUNA report
MADISON, Wis. (1/14/08)--To attract more Spanish-speaking members, credit unions must first speak Spanish. But even English-speaking Hispanics can see that a credit union with Spanish-speaking employees is making an effort to reach them, say executives from credit unions featured in a new Credit Union National Association (CUNA) report. Credit Union Magazine Best Practices: Serving Spanish-Speaking Members studies the programs, strategies, products and services of eight credit unions that have attracted Spanish-speaking members. The executives, from credit unions with assets ranging from $55 million to $6.7 billion, agreed that credit unions planning to reach out to Hispanics must be prepared and have enough Spanish-speaking employees to handle the traffic on Day One. They recommend looking for bilingual employees within the Hispanic community. They also advise credit unions to go into the community and meet potential Hispanic members rather than expecting Hispanics to flock to the credit union. The report shares their stories on how to achieve this. Other CUNA best practices reports discuss succession planning, serving members of modest means, growing youth membership, business services providers, consumer lending, credit counseling, disaster recovery, risk-based lending and more. The report is available in print or PDF downloadable format. For more information, use the link.
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