If a credit union is looking to create a beachhead for the future, it could do worse than appealing to the largest, fastest-growing and youngest demographic group in the U.S. And yet, the figures don’t show that happening. The demographic group to which I’m referring is Hispanics, nearly half – 46.4% – of whom are either unbanked (17.9%) or underbanked (28.5%).

As credit unions, priding ourselves on our inclusiveness and commitment to helping average working people to get ahead, this should bother us. After all, we know that being underbanked or unbanked makes a person much more vulnerable to financial abuses and can keep them from enjoying the benefits and conveniences of mainstream financial services.

As business people, looking to stay relevant in the hotly-contested financial services space, we should all be having a palm-to-forehead moment about this enormous missed opportunity! So, in honor of Hispanic Heritage Month (Sept. 15 to Oct.15), I’d like to share a few basic principles that every credit union can employ to be more effective in appealing to and meeting the needs of a demographic group that is no longer concentrated solely in the West and Southwest, and could hold the keys to your success in the future.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.