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Hispanic experts to speak at CUNA conference
DES MOINES, Iowa (10/4/11)--Two representatives from Coopera, an economic development firm focusing on emerging markets for credit unions, will present a breakout session on creating loyalty within the Hispanic marketplace Oct. 26 during the Credit Union National Association’s (CUNA) Community Credit Union and Growth Conference in San Francisco. During the breakout session, “Product Strategies to Attract and Create the Loyalty of the Hispanic Community,” Coopera’s Warren Morrow and Miriam De Dios will address one of the hottest topics in the credit union industry. Young and largely underserved by financial institutions, Hispanic communities nationwide represent an opportunity for credit unions, according to Morrow and De Dios. “The average age of a credit union member is 47 and creeping older each year,” said De Dios, Coopera vice president. “On the other hand, the average age of the Hispanic population is 27. We have also seen that Hispanics use as many products per household as other members. They seek to borrow, they are responsible, they are loyal, and they refer their friends and family. It’s easy to see why Hispanics are appealing for credit unions.” Many credit unions mistakenly believe translating their brochures and websites into Spanish is enough to reach the Hispanic market, according to De Dios and Morrow. In the presentation, the two will outline successful Hispanic outreach strategies and discuss the importance of adapting products to the market instead of expecting that the market will adapt to them. Coopera is majority owned by the Iowa Credit Union League and is a strategic alliance partner of CUNA. The conference will be held Oct. 24 to Oct. 27.
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