Coopera Consulting

April 2009

Hispanic Outreach Insights
In This Issue
Develop the Right Organizational Mentality
An Action Guide for Management, Staff & Directors

Hispanic Facts

33,000
Number of check-cashing and payday loan stores. That's more than the all of the McDonald's and Burger King restaurants and all the Target, J.C. Penney and Wal-Mart retail stores in the United States combined. 
 
Source - Howard Karger, America's Fringe Economy; Berrett- Koehler, 2005 
Upcoming Webinars

Register today!

June 3,
 
September 2,
 
December 2,
Sign up for this FREE webinar!
 
April 30,
1 PM CT

WOCCU is holding a FREE webinar to inform credit union staff and executives about its third annual Hispanic Marketing Immersion Program taking place in Morelia, Mexico.
 
WOCCU 
 
Welcome to Coopera's monthly issue of Hispanic Outreach Insights! Coopera is a subsidiary of the Iowa Credit Union League and a strategic partner of the Credit Union National Association. We help credit unions across the country grow through the Hispanic market and our staff is committed to bringing you relevant information that will aid your Hispanic outreach efforts. 
 
Growing by reaching the Hispanic market is not easy or quick. With so much information available on this topic, we wanted to compile the most relevant information in bite-sized pieces to guide your Hispanic outreach initiative. Whether you are the community outreach coordinator, marketing director or CEO of your credit union, Coopera is here to be your partner in reaching the Hispanic opportunity. 

Develop the Right Organizational Mentality
You pass the check-cashing shop down the street as you arrive at your credit union each morning, and for the 100th time several thoughts run through your mind: Don't Hispanics know they could save their money if they just joined our credit union? Why do they pay these high fees when we are just down the street? Why are check-cashing shops popping up all over the place? Why can't I get others in my credit union to pay attention to the fact that we should be serving this market? 

check cashing

You may be the champion that has presented the Hispanic market as a growth opportunity in numerous meetings, only to be ignored. Or you may be the person that sees the opportunity but doesn't know how to rally leadership to act on it. At Coopera, we have seen it all when it comes to organizational mentality and we know what it takes for a credit union to move from resistance to embracement of a Hispanic outreach initiative.

When we speak about the "right organizational mentality," we are referring to a collective state of mind wherein the organization believes that serving the Hispanic community is the right thing to do. The credit union also wholeheartedly believes that service to this community is a priority and a business imperative that will help it grow, remain relevant, and position itself as an adept steward of its member's resources.
An Action Guide for Management, Staff & Directors
Follow Coopera's six action steps to achieve the right organizational mentality at your credit union.
 
Consulting
We recommend you act on these six steps even if your credit union has already embarked on initial Hispanic outreach efforts.
 
  1. Understand the local Hispanic market;
  2. Determine the level of cultural buy-in your overall organization displays;
  3. Establish the business case for serving Hispanics;
  4. Assess your credit union's level of preparation for reaching this market;
  5. Develop a strategic plan for reaching Hispanics; and
  6. Adapt to the market instead of waiting for it to adapt to your credit union.

Building the right organizational mentality has helped lay the foundation for credit unions that have proven to be successful in Hispanic outreach initiatives. Coopera can help assist your credit union to accomplish the process in a faster, more thorough, and cost-effective way.
 
Coopera's Action Guide walks you through each of the six steps and gives you real world examples. You will receive a checklist of things that you should do within each step to achieve success. To purchase this Action Guide, click here.

Are there other areas within your Hispanic outreach initiative that you need assistance with? Contact us at 866.518.0214 or [email protected] for further assistance.
 
 
� 2009. Coopera Consulting. All Rights Reserved.