Engaging Effectively with the Hispanic Community
In celebration of Hispanic Heritage Month, credit unions from throughout the region joined with the Cooperative Credit Union Association last week to better understand and learn how to engage with this growing market.
Eduardo Crespo, CEO and founder of Hispanic Marketing Solutions (HMS), joined by Cindy Shogry-Raimer, Vice President, Director Community Development, and Gloria Escobar, Financial Wellness Latinx Outreach Coach, both from Greylock Federal Credit Union, to discuss the origins of Hispanic Heritage Month and the contributions of the Hispanic community to our culture.
Crespo shared the importance of reaching out to Latinex consumers with an understanding of their commonalities, including history, sports, religion and language and language. He stressed that merely using ‘Google translate’ to convert existing marketing pieces to Spanish will not suffice – much of your message will be lost in translation. He shared how HMS has guided many organizations to successfully reach Latinex Consumers using the Understand, Reach, Employ and Service methodology.
Escobar was instrumental in the success of Greylock Federal Credit Union’s outreach into its Hispanic community. She stresses the importance of doing ‘business in a way that is culturally comfortable and familiar.’ Noting the strong familial foundation of the Hispanic community, Escobar said that many time she will have three generations of a family in her office to open an account, apply of a loan, or do other business.
Shogry-Raimer discussed the core strategies Greylock considered vital to successfully serving the Hispanic Community, including hiring practices. In order to truly serve Latinex consumers, it is necessary to have bilingual staff at all phases of credit union operations, not just in member-facing positions. She also shares the importance of using of technology to keep their Spanish-language website current and in sync with their English-language website.
Greylock’s President/CEO John Bissell joined the discussion to share the growth the credit union has realized by reaching out to the Hispanic community, including ITIN loan growth and a portfolio with zero delinquencies, as well as increased diversity among employees and board.
The panel shared many conceptual and practical ideas alike that will help your own credit union achieve success in effectively engaging with the Hispanic Community.
Visit: https://www.census.gov/quickfacts/fact/table/US/PST045219 to learn more about the Hispanic community in your area.
Crespo sends the following invitation:
“I want to thank you for participating in our celebration and hope my presentation was valuable to you. Let me know if you would like to have a complimentary phone/Zoom conversation to answer any questions you may have about entering or expanding your Hispanic market footprint. If affirmative, just send me your contact information and 3 possible dates and I will confirm.”
Eduardo Crespo, CEO, Hispanic Market Solution
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