ONTARIO, Calif. -
In a meeting organized by the World Council of Credit Unions (WOCCU), four U.S. credit union leagues joined with representatives of four respective Mexican caja partnerships to discuss the issue. On hand were the California and Nevada Credit Union Leagues, the Texas Credit Union League, the Arizona Credit Union System, the New Mexico Credit Union Association, and the North Carolina Credit Union League.
Carlos Calderón, CEO of OAS Federal Credit Union, facilitated the main strategy session, in which the partners set out four broad areas for action:
* Enhanced service delivery channels, including card services, international shared branching and international remittances.
* Cross-border internships to promote technical exchanges
* Marketing and service to Hispanic communities in the United States.
* Cross-selling the credit union difference across borders.
The cajas reported that they are growing membership at an average of 18% annually. Yet, César Izurieta, VP-marketing and member services at Caja Libertad, reminded participants that more than 60 million people remain unbanked in Mexico, according to WOCCU. Izurieta added that enhanced service delivery channels will enable the cajas to better reach this market and continue their double-digit growth.
"The caja sector recognizes the power of collaboration in creating the technologies and transaction volume that will allow for new cross-border delivery channels," said Ramón Imperial Zúñiga, CEO of Mexico's largest credit union. "By working together, we can provide hardworking Mexicans in Mexico and in the United States with access to affordable financial services."
Bill Cheney, president of the California/Nevada leagues, told the meeting that "Credit unions in California and Nevada, indeed across the United States, are looking for new markets to drive membership growth. Caja Popular Mexicana and the other Mexican cajas are helping us to better understand and serve the growing Mexican market on this side of the border."
WOCCU has recently launched a new Hispanic Marketing Immersion Program that is aimed at encouraging membership growth in the United States by equipping participants with the critical skills and knowledge they need to reach the growing Hispanic market. "As US credit unions reach larger numbers of Mexican members, they will eventually create the transaction volume for a successful international shared branching network among the U.S. and Mexican partner credit unions," WOCCU said.
The immersion program includes three main components: cultural exposure through home stays with Mexican host families, customized Spanish classes and hands-on internships and marketing workshops at partner credit union branches.
FOR MORE INFORMATION
WOCCU has scheduled the first immersion session to take place in the cities of Queretaro and Guanajuato, Mexico, Sept. 15-30. The deadline for registration is July 31. Visit www.woccu.org/meetings or contact Victor Corro, International Partnerships manager, at vcorro
