Credit unions can play a leading role in serving highly-educated Hispanics if they capitalize on four opportunities, according to new research report from Filene.
The report, based on research by George Washington University's Global Financial Literacy Center, is the third in Filene's financial capability series and uses data from 1,553 Hispanic respondents who reported "some college" or more as their highest level of education completed.
The respondents are part of a huge financial market: In 2015, Hispanics wielded a projected $1.5 trillion in purchasing power, and by 2050 they will number 133 million, the study said. But similar to Gen Y and baby boomers, Hispanics struggle with personal financial knowledge, with only 12% showing high financial literacy, according to the report.
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