DALLAS -- A plenary session on Latinos and the democratization of financial services at the 34th Annual Serving the Underserved and 5th Latino Credit Union Conference provided attendees with insight on Latin American economics as a way to better serve its Latino members in the United States.
"Providing the understanding of issues Latinos experience in their home country allows credit unions to keep those issues in mind when serving those Latinos here," said facilitator Carlos Calderon, president/CEO of OAS Staff Federal Credit Union.
Victor Rico, director of democratic sustainability and special missions of the Organization of American States in Washington, D.C., discussed how poverty and inequality continues to be the biggest challenge in Latin America.
Francisco Anza Solis, deputy general director of Mexico's Institute of the Exterior, outlined the programs that governments in Latin America are working on to improve financial conditions. He encouraged credit unions to work with local consulates to find out ways to connect Latino members to these programs that include lower costs to send money back to Mexico, education programs and a program that allows Mexicans abroad to buy homes in Mexico with mortgages that can be paid from the U.S.
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