Saturday, January 23, 2016

Strategic Hispanic growth plans begin with readiness assessment

The Hispanic market is the largest, fastest-growing segment in this country, but that’s only one reason U.S. credit unions are working hard to learn more about this demographic.

Smart credit union executives understand the Hispanic population is very young compared to other U.S. ethnic groups. This presents an opportunity to lower the average age of membership by bringing Hispanics into the fold. Hispanics are also disproportionately underserved, and credit union leaders view helping Hispanics navigate the U.S. financial system as an important part of the overall credit union mission. Lastly, the face of the American consumer is changing, and growing membership means adapting to consumers, rather than forcing them to adapt to the credit union.

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