A new report from the California and Nevada Credit Union Leagues highlights opportunities for credit unions in California and Nevada to grow their memberships and revenues by serving local Hispanic populations.
The Hispanic Opportunity Report, set for release next month, estimates that if 10% of Hispanic adults in each state were members of a credit union, they would contribute an estimated $2.1 billion in loan balances and $592 million to annual income for California's credit unions. Nevada's Hispanic adults would contribute an estimated $82 million in loan balances and $28 million to annual income for credit unions.
In response to demographic data reported by the U.S. Census Bureau following its 2010 national survey, the California and Nevada Credit Union Leagues, and Applied Research Institute, commissioned Coopera to produce the Hispanic Opportunity Report to better understand the current and future market situation in both states, said Lucy Ito, executive vice president and COO for the leagues.
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