Four credit unions have signed on to participate in theinaugural Hispanic Member Growth Strategy program, a joint initiative ofCoopera and the Credit Union Association of New York.

They are the $18.6 million Cooperative Federal of Syracuse, the$13.8 million Entertainment Industries FCU of New York City, the$73.3 million Bridgeway FCU of Poughkeepsie and the $7.2 millionMSBA Employees FCU of Rockville Centre.

Coopera will help the credit unions identify outreachopportunities and create affordable banking alternatives to meetthe needs of Hispanic members within their community at asignificantly reduced price, said Allison Barna, CUANY director ofdevelopment.

“Today, 17% percent of New York's population is Hispanic,”said Miriam De Dios, CEO of Coopera in Des Moines, Iowa, “and by2025, one in five New York residents will claim Hispanicheritage. Because it is a largely underserved group, yet one of the largest andfastest-growing demographics in America, helping Hispanic membersnavigate the U.S. financial system is important to the overallcredit union mission.”

Barna, who's also director of the New York Credit UnionFoundation, added, “The Hispanic population is very youngcompared to other U.S. ethnic groups — New York credit unionslooking to lower the average age of their membership must considerinvesting in these members as a part of their overall efforts.”

De Dios said four more credit unions can participate and invitedthose interested to check out an archived webinar on the HispanicMember Growth Strategy.