 Offering Relevant Products and Services to Attract Underbanked Members - Part I Attracting the underbanked entails offering products and services that meet their particular needs. A recent Banking Strategies Executive Report: " Serving the Underbanked - Your Own Customers" points out that unbanked customers are aware of the importance of managing their money, but find that the products and services available from mainstream banks don't always meet their needs.  For the Hispanic community, this translates into offering culturally relevant products and services in their language of choice and utilizing effective marketing to increase awareness in the community.
Examples of culturally-relevant products that meet the needs of the unbanked Hispanic community are:
- Check-cashing services with immediate fund availability
- Reloadable pre-paid cards
- Remittance services
While banks in different states have started looking to serve unbanked customers, credit unions are better positioned to tap into this market because of their community base, competitive rates and member focus. |
Create a Successful Remittance Service Strategy Remittances are non-wire money transfer services used to send money domestically and internationally. They are heavily relied upon by first generation, new arrival immigrants; in particular underserved Hispanics.
There are many remittance providers including Western Union, MoneyGram and Vigo to name a few. As your credit union looks to serve Hispanics, Coopera can help you sort through available options and work with you to implement a successful program through our Remittance Service Consulting Unit.
In a series of three meetings with key staff, we will guide you through the process and give you the tools you need to create a successful remittance strategy.
Contact Coopera for more information.
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Industry Recognition for Coopera CEO Miriam De Dios
 The World Council of Credit Union's Young Credit Union People Program (WYCUP) and the Network of Latino Credit Unions and Professionals (NLCUP), recently recognized Coopera CEO, Miriam De Dios, for her continued work to help credit unions reach and serve the Hispanic market.
Miriam was awarded the prestigious WYCUP scholarship at the 2012 World Credit Union Conference in Gdańsk, Poland, July 15 -18. WYCUP is an annual scholarship program that honors five outstanding nominees under the age of 35 who have made significant contributions to the development of their own credit unions or regional/national credit union systems.
Miriam also has been elected to serve on the Board of Directors for NLCUP. NLCUP is a group of credit unions and professionals dedicated to promoting credit union membership to the Hispanic community.
For more information on Miriam's accomplishments, read Coopera's blog.
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Name Change Announcement  Anna Haug is excited to announce that, following her marriage to Javier, she has changed her name to Anna Peņa. Her new email address is pena@cooperaconsulting.com. |
Look for Coopera at these Upcoming Events
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2012 Free Webinar Schedule All webinars take place at 1:30 p.m. CST.
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Free Archived Webinars |
Fee Based Webinar |
El Poder es Tuyo Updates
 8/20: Avoid Pay Day Loans - 8/27: Prevent Money Fights with your Spouse
- 9/3: Cash Back or Low Rate: Choose Wisely
- 9/10: Help your Teenager Land a Job: Planning Ahead for Next Summer
Congratulations to the new El Poder Subscribers:
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About Us Coopera partners with credit unions of all sizes throughout the country, as well as with national and international credit union systems, to help credit unions grow by reaching and serving the Hispanic community.
Coopera is owned by Affiliates Management Company, holding company of the Iowa Credit Union League, and is a strategic alliance partner of the Credit Union National Association. For more information visit CooperaConsulting.com. |
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CONNECT WITH US
Coopera now has Twitter. Follow @_Coopera to get tips on how your credit union can reach the Hispanic market!
Connect with your Hispanic outreach peers with the Coopera and CUNA Hispanic Outreach Connection group on LinkedIn. Post a reply to this month's discussion question:
"Industry Recognition for CEO Miriam De Dios" Congratulations to our CEO, Miriam De Dios, for her acceptance into the World Council of Credit Union's Young Credit Union People Program (WYCUP)! Miriam's scholarship was awarded at the 2012 World Credit Union Conference recently held in Gdańsk, Poland. Read more.
To read previous editions of this newsletter, click here.
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