Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Veridian CU tests cashless branch to woo Latinos
DES MOINES, Iowa (4/19/11)--A cashless branch in a Des Moines social service facility is helping Veridian CU build trust and grow membership within the Latino community. Veridian CU opened the cashless branch in the Hola Center to test the market in a neighborhood where check cashers and payday lenders are more common than traditional financial institutions (Des Moines Register April 9). The branch consists of a single cubicle staffed by a member services representative (MSR). The MSR answers basic questions about checks, ATMs, and remittances and can provide the same transactions--except deposits and cash withdrawals--as a regular branch. The Latino population has grown by 84% in Iowa in the past decade. About 152,000 Latinos currently live in the state. A large portion of them are unbanked, said the newspaper. But Veridian has begun to establish a presence in the Des Moines Latino community. The credit union also sponsors the 37-team International Soccer League, which is largely Hispanic. The branch at the Hola Center will offer financial literacy classes. Coopera Consulting, a firm owned by the Iowa Credit Union League, also helps credit unions reach Latinos, the article said. The firm advises credit unions to hire bilingual staff, offer low-fee remittance programs that allow members to send money bank their home countries, make loans to non-resident taxpayers, and package loans for Latino events.


RSS print
News Now LiveWire
Existing-home sales slump in August as cash purchases decline @REALTORS
28 minutes ago
How #creditunions use FHLBs in their operations, Part 3 #NewsNow #System http://t.co/DXgRqXiRAn
2 hours ago
Retirement reality fairs: Looking at post-work futures today. #NewsNow http://t.co/IcM4uK3IOl
2 hours ago
#HomeDepotBreach: What it means for consumers with 56 million compromised cards See #NewsNow http://t.co/9MJ9JTnHYC
3 hours ago
Welcome to Jim @Nussle as @CUNA pres/CEO today #NewsNow http://t.co/Y2pRFv6diW
3 hours ago