Federation launches Juntosavanzamos.org
New website for Hispanic consumers
NEW YORK, NY (March 15, 2018) — The National Federation of Community Development Credit Unions (Federation) is pleased to announce the launch of juntosavanzamos.org, a new website to help Hispanic consumers locate a Juntos Avanzamos (Together We Advance) designated credit union in the U.S. Juntos Avanzamos credit unions are committed to serving and empowering Spanish-speaking consumers by providing relevant, safe and affordable financial products and services, employing bilingual, culturally-aligned staff, accepting alternative forms of ID, and treating their members with respect, regardless of immigration status. The launch will be celebrated at the Mexican Consulate in New York City on March 15, 2018, the start of the Mexican Government’s Financial Education Week.
Hispanic consumers are a driver of demographic and economic growth in the U.S. At 2.9 percent, the Latino Compound Annual Growth Rate of GDP between 2010 and 2015 was nearly 70 percent higher than the non-Latino U.S. GDP growth rate of 1.7 percent. If these rates are sustained, Latinos will contribute nearly one-fourth of all U.S. GDP growth between 2019 and 2020.
“Hispanic consumers are an increasingly important part of the US economy,” says Pablo DeFilippi, SVP of Membership and Network Engagement at the Federation. “The launch of juntosavanzamos.org is an important step in helping Hispanics find a financial institution that will bring them out of the financial shadows and into the financial mainstream.”
The Juntos Avanzamos network is growing rapidly with 79 credit unions in 20 states, Puerto Rico and the District of Columbia. The primary purpose of juntosavanzamos.org is to help consumers find a financial institution committed to meeting the needs of Hispanic consumers in a responsible and inclusive manner, but the site also explains the difference between a credit union and a bank, provides information on how to join a credit union, and lists resources on citizenship and immigration. The site lists all Juntos Avanzamos credit unions and their branches, locates them on a map and links the listing to participating credit unions. Only credit unions that have received the Juntos Avanzamos designation are included on the site.
The Juntos Avanzamos website is also a tool for community-based organizations, national partners, local governments, consular offices, and other stakeholders to connect their constituencies with responsible lenders and the asset-building opportunities Juntos Avanzamos designated credit unions provide.
Juntos Avanzamos is a unique collaboration within the credit union industry. First developed by the Cornerstone Credit Union League as a Hispanic outreach program in Texas, today the Federation is leading the national expansion of Juntos Avanzamos in partnership with Coopera, the Network of Latino Credit Unions and Professionals, California and Nevada Credit Union League, Cornerstone Credit Union League, Credit Union Association of New Mexico, Iowa Credit Union League, Illinois Credit Union League, League of Southeastern Credit Unions and Affiliates, Mountain West Credit Union Association, New York Credit Union Association and Northwest Credit Union Association.
The Juntos Avanzamos designation is conferred by a Selection Committee, including representatives of partner organizations and member credit unions. Credit unions interested in receiving the Juntos Avanzamos designation can find an application at www.cdcu.coop/juntos-avanzamos-application, and are invited to contact Pablo DeFilippi at pablo@cdcu.coop for more information.
About The National Federation of Community Development Credit Unions
The National Federation of Community Development Credit Unions is a certified CDFI intermediary representing community development credit unions (CDCUs). The Federation's member CDCUs provide credit, savings, transaction services and financial education to more than 6 million residents of low- and moderate-income urban, rural and reservation-based communities across the US, and hold over $60 billion in community-controlled assets. Founded in 1974, the Federation is headquartered in Lower Manhattan with offices in Madison, WI. The Federation offers a wide range of advocacy, educational, training, investment, marketing, and outreach programs to support and assist CDCUs. For more information about the Federation and its programs, visit www.cdcu.coop.
