DES MOINES, Iowa-Miriam De Dios offered these additional strategies for an effective program for effectively working with the Hispanic market:
* Provide training for bilingual staff on how to convey financial terminology in Spanish. "You may test and find that employees can read and write Spanish well, but then there is a gap in translating financial terms," shared De Dios.
* Train staff to understand the correct products and services to deliver to Hispanics. "This market will need some entry-level products first. They will want to know the difference between credit unions and banks. They will want to know they have a safe place to put their money, and how to build credit. Make sure your staff knows to present these things before getting to any investment or wealth-building products."
* Introduce Hispanic members to more of the branch staff. "You can't just let your bilingual employees own the relationship. Your Hispanic members must get to know more than one or two people in the branch-because what happens when these employees move on?"
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