Four spots for mid-sized credit unions still available in outreach program
(Des Moines, Iowa – December 10, 2012) – Building on their five-year partnership, the Credit Union Association of New York (CUANY) and Coopera have signed four credit unions to take part in the inaugural Hispanic Member Growth Strategy Program. As part of the program, Coopera, a firm that helps credit unions reach the critical Hispanic market, provides valuable resources and counseling to New York credit unions working to grow their Hispanic membership.
According to Coopera CEO Miriam De Dios, the Hispanic Member Growth Strategy Program helps small (assets under $25M) and mid-sized ($25M-$500M in assets) New York credit unions expand their business opportunities by serving the Hispanic market. “Today, 17 percent of New York’s population is Hispanic,” said De Dios, “and by 2025, one in five New York residents will claim Hispanic heritage. Because it is a largely underserved group, yet one of the largest and fastest-growing demographics in America, helping Hispanic members navigate the U.S. financial system is important to the overall credit union mission.”
Allison Barna, director of the New York Credit Union Foundation and Community Development for the Association, added, “The Hispanic population is very young compared to other U.S. ethnic groups — New York credit unions looking to lower the average age of their membership must consider investing in these members as a part of their overall efforts. The Hispanic Member Growth Strategy Program is the perfect resource for our credit union members’ to take part in because it gives them access to Coopera’s expertise, including identifying outreach opportunities within their neighborhoods, as well as creating affordable banking alternatives to meet the needs of Hispanic members within their community, at a significantly reduced price.”
Through this program, Coopera works with New York credit unions to identify Hispanic outreach opportunities within their neighborhoods and create affordable banking alternatives to meet the needs of this community. To date, credit unions participating in the CUANY and Coopera program include:
- Cooperative Federal Credit Union of Syracuse
- Entertainment Industries Federal Credit Union of New York City
- Bridgeway Federal Credit Union of Poughkeepsie
- MSBA Employees Federal Credit Union of Rockville Centre
"Coopera has a deep understanding of this very important, growing market,” said John C. Gibardi, president and CEO of Entertainment Industries Federal Credit Union. “The Credit Union Association of New York has recognized them as a resource for credit unions. Why recreate the wheel? They are experts in this arena."
“The Hispanic Member Growth Strategy Program is designed to help eight credit unions in the New York area,” said De Dios. “We look forward to hearing from another four mid-sized credit unions to participate. Because credit unions can provide fair and dignified products and services to the Hispanic community that traditional banks cannot, New York credit unions participating in this program will be well-positioned to lead their customers down a path to financial responsibility.”
More information on the 2012 Hispanic Member Growth Strategy program is available via archived webinar at http://diigo.com/0pzxe. Contact Coopera at 866.518.0214 or www.cooperaconsulting.com for additional details.
About Coopera
Coopera is an Iowa-based economic development firm focused on the emerging Hispanic market, which presents unique growth opportunities for credit unions. Coopera’s bicultural and bilingual staff works with clients to assess their needs and develop custom solutions. Founded by the late Hispanic community activist Warren Morrow, Coopera is majority owned by the Iowa Credit Union League and is a strategic alliance partner of the Credit Union National Association. For more, visit www.CooperaConsulting.com.