News Briefs: Visa Rolling Out Hispanic Financial Education Campaign

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Visa USA announced that it is rolling out a Hispanic Financial Education Campaign.

The new program is aimed at providing Hispanic consumers the tools they need to make sound financial decisions in their lives, the company said.

In making the announcement, Visa cited a Hispanic population that is now considered the largest U.S. minority group and expected to represent 9% of the total U.S. buying power by 2009, according to the Sellig Center for Economic Growth. The U.S. Census Bureau recently announced the Hispanic population has reached 41.3 million.

"Much of this growth (40% to 45%) has come from new immigrants, many of whom may not be familiar with the U.S. banking system," Visa suggested.

"Hispanics come to this country to expand their possibilities, and developing practical money management skills is one of the first steps to building a better quality of life in the United States," said Rosetta Jones, vice president, consumer education, U.S.A.

Elements of the campaign include:

* Financial wellness columns: Visa will develop Spanish-language monthly columns of financial advice.

* Spanish language magazine: Visa will distribute a Spanish-language magazine featuring key budgeting and financial management tips from the award-winning Practical Money Skills for Life program.

* Partnerships: Visa will partner with local chapters of the League of United Latin American Citizens to launch a broad-based community relations program designed to provide the PMSFL curricula to that group's local membership.

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