Credit unions can benefit immensely by serving Hispanic markets. A recent study by the NCUA showed more than 30 million Hispanics who are members of credit unions of a total 60.5 million living in the U.S., according to the Department of Health and Human Services. This burgeoning demographic makes up just 26% of total credit union members, which represents great opportunities for your credit union.
So, what can your credit union do to boost its success?
For credit union marketing to earn the trust of the Hispanic community, keep in mind the myth that Hispanics, particularly Latinos, are similar in their views and experiences politically, socioeconomically and in numerous other ways: This is not the case. Latinos are incredibly diverse, from South to Central America. Our foods, music, sports, culture, and idioms vary from country to country, and it’s important to understand each of our intricacies to help meet our financial needs.
Aside from understanding the diversity of Hispanic culture, Hispanic marketing experts can help your credit union confidently build a strategic plan to help your credit union effectively engage with Hispanic people in your field of membership, implementing productive campaigns through the proper marketing channels.
Not only your credit union will succeed by reaping the benefits from a specialized team dedicated to your credit union’s Hispanic outreach efforts, but your team’s confidence will flourish with the proper tools and marketing to support them, providing opportunities for financially centered conversations with Hispanic members. Of the many details to highlight in their native language, the most important is to help them understand that their money is safe and secure with your credit union, even if your institution is not as big as other big banks or renowned financial institutions.
Outsourcing your credit union marketing to an expert Hispanic marketing team like Your Marketing Co. is a great way to lessen the burden on your credit union’s marketing team while also attracting new members. As your credit union grows, so will your team’s confidence. Here are some great reasons why your credit union should outsource Hispanic marketing to us:
- Experienced in working across diverse markets
- Succeeding with multicultural campaigns across multiple credit unions
- Providing your credit union’s marketing with best practices for multicultural marketing
- Increasing your credit union’s engagement with Hispanic members and potential members
- Leveraging English-dominant members of the Hispanic community who speak English as a Second Language by advertising in Spanish and English
- Saving tons of time and alleviating stress on your credit union’s marketing team
Sound like a good idea to you? Let’s Talk!