Membership Growth in 2010 |
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Is membership growth a strategic focus for your credit union in 2010? This topic is likely to jump to the top of the list for many credit unions across the nation since credit unions are only growing at an average rate of 1.2% a year. Within the next few months, your credit union will likely be holding a planning session for 2010. Take advantage of these sessions to discuss how your credit union can differentiate itself by investing in a largely underserved and untapped market - the Hispanic market. Not ready to take the plunge and invest in a comprehensive Hispanic outreach strategy in 2010? Don't worry, because there are small steps you can take now to begin exploring the opportunities.
- Research the demographic make-up of the population within your field of membership.
- Schedule a meeting with your management team to discuss the opportunities and challenges in reaching Hispanics.
- Join a discussion group to ask your credit union peers about their credit union's experience with serving Hispanics.
- Start the education process. Inform staff, management and your board about the importance of serving this market and about the Hispanic culture.
Coopera Consulting can help your credit union with each of these. Contact us to find out how. |
Proven Results |
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The opportunity to serve the Hispanic market is immense; don't pass it up. How great is the opportunity? Coopera credit union clients who have served Hispanics for two years have shown:
- Hispanic membership growth of an average of 132%, compared to -2% for their general membership.
- Hispanic member share deposit growth of an average of 179%, compared to 48% for their general membership.
- Hispanic loan volume growth of an average of 313%, compared to -10% for their general members.
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Discovery Starter Kit - Assess and Act |
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Is the idea of serving a new market overwhelming? Start with the Discovery Starter Kit. This kit contains the following three essential pieces to get you started:
A Demographic Market Scan of the Hispanic Opportunity - Coopera will map the distribution of Hispanic households and the percent of households that prefer Spanish as a spoken language within a 3-mile radius of up to two of your branches. Use this information to begin building the business case for serving the Hispanic population within your field of membership. (Please provide the addresses of up to two of your branch locations when placing your order).
An Introductory, On-Demand Course to Train Staff on the Hispanic Culture - Engage staff with this 30 minute, on-demand course. Staff will explore Hispanic cultural differences, see examples of how to serve Hispanics and test their knowledge of the information presented. Use this course as a diversity training requirement. |
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Promotional Price: $299 for all three items in this kit. Offer expires October 30, 2009.
Call us at 866.518.0214 or email us at to order your Discovery Starter Kit today. |
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Coopera is a subsidiary of the Iowa Credit Union League and is a strategic partner of the Credit Union National Association. We help credit unions grow through the Hispanic market and are 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 help answer your questions about the Hispanic opportunity. |