The Juntos Avanzamos Hispanic outreach program continues its expansion across the United States, adding two credit unions in Colorado in the fourth quarter of 2016.
The CUs were: $325 million Partner Colorado Credit Union, Arvada, Colo., and $180 million Fitzsimons Credit Union in Aurora.
Juntos Avanzamos (Spanish for "Together, we advance") is a national recognition of the work and commitment made to offer financial services to the Hispanic community.
The latest expansion is thanks to the work of the National Federation of Community Development Credit Unions and Iowa-based Hispanic market solutions company Coopera, in conjunction with the Mountain West Credit Union Association.
With the Colorado CUs, Juntos Avanzamos now is in 32 credit unions in 15 states. By the end of 2017, the program is expected to reach 100 credit unions in 20 states, Coopera and the Federation said Wednesday.
"The momentum these credit unions have generated is so impactful," Miriam De Dios, CEO of Coopera, said in a statement. "Embracing the Hispanic market is not only the right thing to do; it is a smart, strategic move for any financial institution looking to reach a young, influential and fast-growing segment. Juntos Avanzamos credit unions recognize this opportunity and are making the most of it with each new member served."
In October, both Partner Colorado CU and Fitzsimons CU celebrated their Juntos Avanzamos designations with mariachis, cultural dancers and flag raisings during proclamation ceremonies. Nearly 100 people attended Partner Colorado's event, including representatives from the Consulate of Mexico, Mi Casa, the Mountain West Credit Union Association and the Federation.
Dan Santangelo, senior vice president at Mountain West Credit Union Association, said, "We are excited and proud of the work done by Partner Colorado and Fitzsimons, as they serve and engage the Hispanic community. They join several other cooperatives with the three-state Mountain West Credit Union Association that are also paving the way to higher levels of financial success for Hispanic communities in our region. We look forward to working closely with the Federation and Coopera to promote access to credit union services for Hispanics across the country."
"We are honored and extremely excited to be recognized for our efforts in serving the Hispanic community in Colorado," said Melissa Sierra, senior business development director for Partner Colorado CU. "This designation affords Partner Colorado the opportunity to continue to build trust in the Hispanic community and gain support from new partnerships."
Research, Education, New Services
Fitzsimons Credit Union said it refocused its efforts to be a valued partner to the Hispanic community in 2011 with research, educating staff on Hispanic culture, and adjusting products and services to meet the segment's needs.
The credit union noted it began to see the positive effects of its strategic efforts in 2014 and said it is continuing to develop and fine-tune products and services to better serve the community. Fitzsimons offers accounts for members with alternative forms of ID, loans for those with ITINs, credit building loans for members with no or low credit, financial literacy in Spanish and a 0%-interest loan for citizenship expenses.
"Fitzsimons Credit Union has supported the economic and cultural diversity of the Aurora community for more than 60 years, and serving its largest minority group fits the credit union's mission and vision," said Robert Fryberger, Fitzsimons CU's president and CEO, who added the credit union's home of Aurora, Colo., is 28% Hispanic or Latino. "Being recognized for our work in the Hispanic community and receiving the designation is a true honor."
Scott Earl, president and CEO of the Mountain West Credit Union Association, and Federation SVP of Membership and Development Services Pablo DeFilippi were on site to celebrate with each of the Colorado credit unions.
"We applaud the leadership these credit unions have shown in recognizing the need for affordable and responsible financial services in the Hispanic community," said DeFilippi. "Thanks to new asset-building opportunities, Latinos will be able to start or expand their businesses, purchase a home and send their children to college. This is what the American dream is all about."
The Juntos Avanzamos program originally was developed by the Cornerstone Credit Union League, which represents Arkansas, Oklahoma and Texas. Some 15 months ago, the Federation and Coopera sought to take the program national. It launched in Arizona in September 2015, followed by California that November, and New Mexico in December. In February 2016 it debuted in Iowa, then in Oregon and Washington in August, and New Jersey in December.
