Nearly half of Hispanics in the U.S. are unbanked or underbanked; and that’s unacceptable, says Miriam De Dios, CEO of Coopera.
Reducing that number is a major priority for De Dios and Coopera, a consulting firm that helps credit unions reach and serve the Hispanic market.
Bringing people into the financial mainstream is one of the best way to empower a community that experienced “a lot of fear and uncertainty” because of 2016’s political discourse, she says.
“What has been out in the media, and some of the negative discourse around immigrants, particularly Hispanic immigrants, has affected the community quite a bit,” De Dios tells the CUNA News Podcast.
Credit unions should consider reassuring their Hispanic communities that they’re inclusive financial institutions, she says, because the Hispanic market will help credit unions grow in the coming decades.
“More than ever credit unions need the Hispanic community, and the Hispanic community needs credit unions,” De Dios says.
In addition to discussing the intense political year for Hispanics in the latest CUNA News Podcast, De Dios shares her thoughts about workplace diversity, tips for reaching out to Hispanics, and her family’s immigration story.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
