Who's in your Market?

Hispanics are the fastest growing segment in the U.S. population but are also among the most underserved minorities by financial institutions. The census estimated that the Hispanic population in the U.S. by 2006 was 44.3 million, about 15% of the total population. Notably, more than 48% of the population was under the age of 25. This growth presents a wave of opportunity that credit unions cannot afford to miss.

The Hispanic market is also gaining strength financially, making them increasingly attractive to financial institutions. According to CUNA, the most likely borrowers are members from the ages of 25 to 44. The Pew Hispanic Center estimates that one-third of the Hispanic market in the U.S. earns more than $50,000 annually, and CUNA estimates that Hispanic purchasing power will reach $900 million by 2007.