Here are eight keys for success that we've learned so far:

Engage your Hispanic employees in the program. Create an internal committee that will help you formulate plans, ideas and communications, and give participants an opportunity to share feedback along the way.

These are the people who know your area's population best. They will know how geographic areas differ within your credit union's footprint, what media outlets matter to Hispanics,\ and how to best get involved in the community.

Also, there's a bonus: Engaging these employees will activate some of your best brand advocates and help them grow their careers.

Consider designating a Hispanic brand ambassador as the face of the effort. People identify with people, not just advertisements. Marketing communications serve a purpose, but prominently featuring a familiar face that your Hispanic audience knows will build trust.

This goes beyond just having a spokesperson, though. This brand ambassador should be intimately involved in your community relations efforts, and be a key part of your planning committee.

Have a Spanish version of your website as you crank up the program. Create a website with content that will specifically speak to your Hispanic audience, features faces they recognize and is in the language they're comfortable with. This is at the heart of all your Hispanic communications, since all your other efforts should point people back to your site for more information.

A Spanish Achieva ad for local Hispanic news magazine, La Guia.

Use a version of Spanish that's understandable to people of all backgrounds. Dialects can vary widely among Spanish speakers, depending on a family's background and heritage. For example, people from Latin American countries will speak and read differently than people from the Caribbean. Use copywriters that understand this and write in a way that is understandable to all.

Don't translate marketing copy word-for-word from English. Instead, create specific messages that relate to the Hispanic audience. The messaging you highlight in marketing for the general consumer does not necessarily resonate the same with Hispanics. And the meanings of certain words can be quite different in English than they are in Spanish.

So instead of writing copy in English and then translating, create Hispanic-specific messaging and have a Spanish-language copywriter put those messages into words. This will be more authentic, and will also avoid the use of words that might inadvertently send the wrong message to your audience.

Spread your messages across a variety of media channels. Spanish-language print media outlets continue to be important in Hispanic marketing, particularly to older demographics, but it's important to also cover other mediums such as digital, TV and radio, and social media.

TV and radio can be extremely effective in reaching the Hispanic population, and tied to a strong digital and social media campaign, can lead to higher web traffic and more new members. Of course, this requires a spending commitment, but that would be part of any effective targeted program you undertake.

Have bilingual staff in your customer service center and branches. Ensure that your member touchpoints include bilingual staff to make it easier for Spanish speakers to engage with your organization. Have bilingual employees in the branch and not just on the phone – a friendly, knowledgeable person onsite who speaks a member's language will set your credit union apart from the competition.

Having specific phone lines dedicated to answering calls from Spanish-speaking members is further proof that your credit union is addressing the needs of the Hispanic audience. And by using special phone numbers or email addresses in your advertising, you can better track responses.

Support the Hispanic community in meaningful ways. Like any community, the Hispanic community notices when a financial institution gets involved in ways that make an impact. Take the time to understand what the community needs, and in turn, which organizations are making a difference.

Then, do more than just write a check. Consider having employees join nonprofit boards or find other ways to help with volunteer hours. The nonprofit, and in turn, the community, will notice.

Luis Palacio

Luis Palacio is a Sarasota, Fla.-based lending advisor/loan officer for the $1.9 billion Achieva Credit Union.