GRANDVILLE, Mich. (10/20/14)--In its ongoing campaign to ramp up financial literacy in its Hispanic community, Grandville, Mich.-based First United CU hosted a free seminar recently conducted entirely in Spanish.
Participants learn money management at First United CU's free Spanish financial literacy seminar last month. (First United CU Photo)
With more than 20 families in attendance, the "Take Control of Your Finances" workshop was developed to educate young families and the unbanked within the local Hispanic population.
Bilingual staff from the $28 million-asset credit union led the session, where participants learned the basics of budgeting, saving, money management and maintaining good credit. Those in attendance also were able to experience how a credit union works.
The seminar, held at a local library, was made possible in part by a $4,000 grant from the Michigan Credit Union Foundation for the credit union's work serving the Hispanic population.
The credit union plans to use the funds to expand educational programs geared towards the Hispanic market.
"The foundation believes in our work with the Hispanic population and the importance of providing financial education," said Mark Richter, First United president/CEO, adding, "We've served this community since 1937. Providing financial education is part of our 'people-helping-people' philosophy."
In addition to financial education seminars, First United also employs full-time bilingual staff who can help Spanish-speaking members open new accounts and take out loans, using Spanish through the entire process.
Locals have taken notice of the work the credit union has done lately to help serve the Hispanic community.
"We're thrilled to see more organizations, like First United, embrace the Hispanic market and take steps to provide a fair financial alternative," said Yeli Romero of La Mejor Radio in Grand Rapids, Mich. "By encouraging the financial well-being of our neighbors and the Spanish-speaking community, all of us benefit."