HOUSTON -Six credit unions have teamed up to form a CUSO to helpcredit unions better serve the Hispanic community. AlianzaFinanciera Hispana (AFH) is a multiple-owned subsidiary ofAssociated CU, Shell FCU, Shared Resources CU, Space City CU,Houston Postal CU and Neighborhood FCU. Its mission is to advancethe financial education, economic condition, and provide financialalternatives to the Hispanic population. According to AFHChairman/Houston Postal CU President/CEO Vladimir Stark, the ideais to develop community and national based programs that addressthe needs of the Hispanic community in order to help them live the“American Dream”. “We all had something in common -wanting to makea positive difference in the Hispanic community,” said Stark. “Sowe decided to leverage our collective resources and capitalize oneach credit union's strength to benefit the Hispanic community.”Stark adds that with so many financial entities waiting to exploitthe Hispanic and new immigrant market Alianza is just the latestcredit union effort to meet their needs by offering fairly-priced,user friendly alternatives. Although the CUSO was just launched inlate February, Stark identified some of AFH's goals, which includethe following: * Empower the individual first and foremost. Providefinancial education so the individual is capable of making informeddecisions to distinguish between financial services and productsthat help them or exploit them. Teach the differences between the“for profit” predator/lender entities and credit unions. Assist inthe transition from an environment of “cash-society” to a “credit”or “plastic” society, which is a new, different, and oftenfrightening experience for the individual. Help young generationsobtain a higher education. * Facilitate the financial delivery ofcompetitive products and services, which the market demands anddeploy them to the people at their convenience. Encourage adoptionof new, safer financial habits, which includes credit unionmembership. AFH should remain a safe haven and provide “lifeline”services for persons unable to qualify for credit union membership.Additionally, to be a reference point to guide them withimmigration matters. * AFH will serve as a financial alternative byproviding check cashing facilities, offering prepaid debit cards,prepaid telephone cards, international wire transfers anddeveloping insurance products to meet their needs. * With creditunion membership, the individual obtains access to additionalfinancial services and products; and may now begin to experiencewealth accumulation. Home ownership represents the traditionalcornerstone of wealth accumulation in the United States. Financialeducation may then take on advanced concepts of investments and/orsmall business ownership. Stark says while the initial owners areall Texas-based, he hopes to see it expand to include credit unionsnationwide. To spread the word, in addition to being members of theHispanic Chamber of Commerce, Alianza leaders have shared theirmission with several local legislators including Texas HouseRepresentative Jessica Farrar, Senator Mario Gallegos, and City ofHouston Council Members Adrian Garcia and Carol Alvarado. Starksays so far the response has been “very favorable.” Alianza hasalso tapped the talents of former Mexican Presidential Advisor, Dr.Juan Hernanez, who served as guest speaker during a recent meeting.“Dr. Hernandez has a passion for this and is helping us understandhow to meet the needs of this community and how to better reach andserve the Hispanic community,” said Stark. Former Allied CreditUnion CEO David Cox has been named Alianza CEO. At press time, acompany logo was still in the development stage. For moreinformation on Alianza contact Stark at (713) [email protected]