Community 1st Credit Union earns Juntos Avanzamos designation
DES MOINES, IA (May 24, 2016) — The movement added another Juntos Avanzamos-designated credit union this spring. Welcome, Community 1st Credit Union!
The designation, which translates to “Together, we advance,” is a national recognition of the work and commitment made to offer financial services to the Hispanic community. On May 5, 2016, we were thrilled to join Guadalupe Sanchez Salazar, Consulate General of Mexico, and other local dignitaries in Ottumwa, Iowa, to celebrate the designation with Community 1st Credit Union.
For many Hispanics, navigating the U.S. financial system can be challenging. Credit unions make the process easier. Community 1st is leading the way and hopes to inspire other credit unions around the country to realize the importance of embracing Hispanic community initiatives.
Community 1st is the first credit union in Iowa to receive the designation, which our firm and the National Federation of Community Development Credit Unions (the Federation) recently expanded into a nationwide program. The cooperative worked with our team to set a strategic plan for becoming a fair, dignified and affordable option for the local Hispanic community.
Community 1st is an exemplary financial institution that understands the importance of achieving internal readiness before launching into a Hispanic growth strategy. Notably, 10 percent of Community 1st’s more than 200 employees are bilingual.
“As a credit union, we have a mission to serve underserved populations,” said Anne Hagen, Community 1st vice president of marketing. “We — all credit unions — are not-for-profit institutions. Part of our ‘profits,’ we give back to the community.”
Even though most credit union leaders are aware of the growing Hispanic population in their fields of membership, many are are unsure how to begin serving this young, fast-growing, influential community. Half the battle is developing the right mindset within the credit union. The ultimate achievement is a collective state of mind in which the entire organization believes serving the Hispanic community is not only the right thing to do, but also a profitable, priority business strategy.
Kudos to Community 1st for becoming the first credit union in Iowa to achieve this important milestone.
Coopera (ko-pair-ah) is a full-service multicultural analytics and consulting firm with specific focus on credit unions nationwide. Coopera’s dedicated multicultural and multilingual personnel work closely with clients to assess their needs and create growth strategies designed to increase multicultural membership, revenue growth and loan volume. Founded by the late Hispanic community activist Warren Morrow, Coopera is owned by Affiliates Management Company, the holding company of the Iowa Credit Union League and is an exclusive strategic alliance partner of the Credit Union National Association. For more information, visit www.CooperaConsulting.com