Credit unions might believe they're doing all they can to target valuable demographic groups, but there's one market that many are neglecting, said one consulting firm and its credit union clients. Hispanics are a rapidly growing market, according to Des Moines, Iowa-based firm Coopera Consulting. And they are hungry for financial services and carry an abundance of new business opportunities for credit unions.
Mexico-born Miriam De Dios, CEO of Coopera, said that while many credit unions naturally serve Hispanics as a result of their member service area locations, not enough of them implement comprehensive plans to win over the ethnic group. Coopera opened five years ago and has helped approximately 70 credit unions court their Hispanic communities to date.
"In California, for example, credit unions are serving Hispanics by default because Hispanics live there," De Dios said. "But many credit unions don't have a strategic growth plan. Credit unions need to grow in terms of members, and Hispanics are an untapped market. They represent a blue ocean of opportunity, and they're a loyal market to reach out to."
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
