President Trump's cancellation of the DACA program to provide legal residence for immigrants who came to the United States as children is a call to credit unions to stand up for their members, regardless of immigration status, said the chief executive of a company that advises credit unions on serving the Hispanic market.
Miriam De Dios Woodward, CEO of Coopera of Des Moines, Iowa, called Trump's decision "unfortunate" because the 2012 Deferred Action for Childhood Arrivals (DACA) program had provided deportation relief and work permits to more than 800,000 young people across the country, often referred to as "Dreamers."
"DACA allowed many young people to pursue higher education, start their careers, provide for their families and ultimately step outside of the shadows," she said. "We are hopeful Congress takes the necessary action to preserve the protections granted to DACA recipients under the timeline announced today."
Among the estimated 57.5 million Hispanics the Census Bureau estimated lived in the United States in July 2016, more than 11 million are undocumented immigrants. Hispanics were 17.8% of the nation's total population last year, constituting the nation's largest ethnic or racial minority, according to the Census Bureau.
Trump's decision has widespread impact, affecting family members, employers and friends within the larger community, said David Suarez, bilingual community development manager at Community 1st Credit Union in southeastern Iowa ($613.7 million in assets, 54,753 members).
Those affected include DACA recipients who are members of Community 1st and even some of its employees, Suarez said.
Trump campaigned promising to rescind former President Obama's 2012 executive order. Yet, Suarez said Hispanics in his community were surprised because the order was limited to those who came to the United States as children with no say in whether they came, and often too young to even be aware they had crossed a border.
"Nobody expected President Trump or the government could take this away from this benefit for this specific group because they were children when they arrived," he said. "This is very sad news."
On the other hand, Suarez was encouraged that Trump was asking Congress to take permanent action to help the Dreamers.
"Congress needs to be working on that," he said "It's important from the elections point of view for both parties," he said, noting that many of millions of Hispanics in this country are citizens who vote.
He noted that citizens have demonstrated in cities across the country in support of the Dreamers.
Point West Credit Union in Portland, Ore., ($105.8 million in assets, 9,823 members) proclaims its ties to the immigrant community loudly on its web page, stating "Here, the Minority is the MAJORITY," and noting that the credit union made 464 loans to non-citizens last year.
Steven Pagenstecher, Point West's vice president of member experience, said credit unions should continue to be a source of opportunity and support for their members, regardless of their immigration status and despite Trump's action.
"The decision, while unfortunate, does not change how we serve our members, but rather strengthens our resolve to continue to provide equitable and inclusive financial services that bring tangible results to our members and community," Pagenstecher said. "Immigrants, regardless of citizenship status, are an integral part of our communities. Ensuring affordable, culturally-appropriate financial access is an essential part of our mission."
Woodward of Coopera said Trump's actions should not obscure the contributions DACA recipients make to the nation.
"Immigrants, including DACA recipients, are credit union employees, members and community partners," she said. "Since they were founded, credit unions have been serving community members regardless of immigration status, and that will not stop as long as people are in need of accessible financial services. There is no better time for financial institutions to continue sharing their message of inclusivity."
Financial institutions can serve immigrants regardless of immigration status, provided they abide by federal customer identification program rules. There are credit unions that offer immigration loans for specific application and renewal fees, including DACA.
"Credit unions can show their support of the DACA program by contacting their legislators and by letting their employees and communities know they are aware of this news and continue to be inclusive organizations welcoming of the community regardless of their immigrations status," Woodward said.
Coopera is owned by Affiliates Management Co., the holding company of the Iowa Credit Union League. Coopera is an exclusive strategic alliance partner of CUNA.
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