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Accepting matricula card key to Mich. CUs growth
FERNDALE, Mich. (9/21/12)--Credit Union ONE, Ferndale, Mich., is accepting the Matricula Consular de Mexico card as a form of identification to establish membership at its Southwest Detroit branch.

Earlier this month, Credit Union ONE, Ferndale, Mich., began to accept the Matricula Consular de Mexico card as a form of identification to establish membership at its Southwest Detroit branch. From left are: J. Abel Sanchez-Guerrero, Consulate of Mexico-Community and Cultural Affairs Department; Mariza Sanchez, Credit Union ONE Southwest Detroit assistant branch manager; Vicente Sanchez Ventura, Consul of Mexico; Gary Moody, Credit Union ONE president/CEO, and Yvette Gonzalez, Credit Union ONE Southwest Detroit branch manager. (Photo provided by Michigan Credit Union League)
The Matricula Consular de Mexico card an is identification issued by the Mexican consulate to Mexican nationals. It is primarily issued to Mexican citizens residing outside of Mexico.

Credit Union ONE has operated a branch in Southwest Detroit for decades, and recently determined that access to financial services for Mexican citizens living and working in the community was not being met, partly because of issues related to identification.

"Changes to state laws and federal laws to combat terrorism and money laundering made opening an account impossible," Yvette Gonzalez, branch manager of the Southwest Detroit branch told the Michigan Credit Union League (Michigan Monitor Sept. 17). "Matricula offers us the ability to assure access to services while also being compliant with various laws."

The credit union also takes part in a Federal Reserve funds transfer program known as Directo a Mexico.

Gary Moody, Credit Union ONE president/CEO, said offering services to families that move money between Mexico and the U.S. is critical. "This is about providing safe, secure, low-cost financial services to an important and sometimes vulnerable segment of the community," Moody added.

Coopera works in partnership with the Credit Union National Association (CUNA) and credit unions to help credit unions nationwide grow by serving the Hispanic community. Coopera and CUNA designed El Poder es Tuyo (The Power is Yours), a customizable, Spanish-language personal finance website for Hispanic credit union members and potential members. For more information, use the resource link.
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