Financial institution leaders often view Hispanic outreach as a long-term strategy, and not one that can be taken lightly. And they would be right. Unfortunately, this understanding can lead to inaction. Facing down what appears to be an overwhelming task, they are coaxed into a failure to act at all.
That is why I decided to put together a quick-hit list of five things (in honor of Coopera’s five-year anniversary) credit unions and community banks can do yet this year to take steps toward a full-fledged Hispanic outreach program.
1. Understand America’s changing population– educating yourself and your staff is an important first step, and one that can be accomplished over the next six months.
2. Get to know your local Hispanic community – making personal connections will go a long way toward developing an outreach strategy.
3. Get staff involved – developing that ever-important buy-in is a key step.
4. Offer introductory products to attract new members – the key here is to adapt to the Hispanic marketplace, not expect them to adapt to you.
5. Develop partnerships – aside from helping your financial institution assimilate, partnerships will help you remain accountable to an important ally as you strive to become a resource for both U.S. born and immigrant Hispanics.Leave a comment