(March 27, 2008 – Dallas, TX)  On June 11-13, 2008 credit unions from across the country will come together in Dallas to share best practices and strategies to more effectively meet the needs of the emerging and influential Hispanic market during the 5th Latino Credit Union Conference, part of the 34th Annual Conference on Serving the Underserved, with which it overlaps. The Latino Credit Union Conference is organized by the National Federation of Community Development Credit Unions (Federation) in collaboration with the Network of Latino Credit Unions and Professionals; with significant sponsorship by the Texas Credit Union League (TCUL).

It is through the Richard L. Ensweiler Fund, that TCUL is able to sponsor the 5th Latino Credit Union Conference and provide scholarship grants to Texas credit unions in need of financial assistance to attend.  This fund is a part of the Community Investment Fund, an industry-wide fundraising mechanism that provides funding for programs that support the credit union movement, credit unions, members, and ultimately, local communities.

“We recognize that Hispanics represent a large percentage of the unbanked population in our state, and across the country. As a result of their lack of familiarity with the English language the American financial system, they are often exploited whenever they cash a check, send money home, or take out a small loan to carry them over to their next paycheck,” notes TCUL president and CEO Dick Ensweiler.  “When it comes building financial wealth for their families, we believe Hispanics would do well for themselves by turning to not-for-profit credit unions, and we are committed to providing much-needed resources to credit unions in the Lone Star state with a true passion and commitment for serving the financial needs of their Hispanic communities.”

“Like TCUL, the Federation has long understood that credit unions are uniquely positioned to serve the Latino community, but to do so credit unions must develop and refine programs and services to reach out and meet the specific needs of Latinos,” explained Federation President / CEO Cliff Rosenthal.  “Early on we saw the need for a national forum that would focus on best practices in serving Latinos, and in 1999 the Federation organized the first national Latino Credit Union Conference in San Antonio.   Four conferences and nearly 10 years later we’ve come full circle back to Texas and are pleased to see a growing interest for serving Latinos within the credit union industry. We are pleased with the significant support the Texas Credit Union League has provided for this event and look forward to continue working with them on behalf of the Hispanic community.”

“We thank the Federation for creating this forum and taking the leadership to organize the first four Latino Credit Union Conferences,” said Carlos Calderón, CEO of OAS Staff FCU and Chairman of the Network of Latino Credit Unions and Professionals (NLCUP).  “We are very proud that our recently created network has had the opportunity to co-organize this year’s Latino Credit Union Conference, and we look forward to taking the lead in future Latino Credit Union Conferences; this is one of the core objectives of our organization.  We also thank Ensweiler and TCUL for their visionary work on behalf of Latinos in Texas, and elsewhere.”

The theme for this year’s conference, “Latinos and Credit Unions: The Crossroads Where Mission Meets Opportunity,” seeks to highlight the tremendous potential that the Hispanic market holds for the credit union system.  Conference attendees will have the opportunity to learn proven strategies and techniques for serving the Hispanic market, which at over 43 million people, represents 15 percent of the U.S. population and nearly 36 percent of Texas’ population, making them the fastest growing ethnicity in the country.  Hispanic purchasing power reached almost $900 billion in 2007, representing the first time that Hispanics control more disposable income than any other U.S. minority group.

With an impressive line up of speakers that includes United States Treasurer Ana María Escobedo Cabral; National Credit Union Administration (NCUA) Board Member Gigi Hyland; National Association of Hispanic Real East Estate Professionals CEO Tim Sandos; Associate Director for the Instituto de los Mexicanos en el Exterior Francisco Anza Solís; and Director of Democratic Sustainability of the Organization of American States Victor Rico, conference attendees will gain insight, as well as the tools and knowledge needed to penetrate this largely underserved and untapped market.

This year’s program is a collaborative effort of several leading credit union organizations, including the Texas and California credit union leagues, the Credit Union National Association (CUNA), the CUNA Mutual Group, Filene Research Institute, Latino Community CU and the World Council of Credit Unions (WOCCU).

For additional information and to register for either conference, please click here.

Texas-based credit unions wishing to apply for a scholarship to attend this event, should contact Linda Webb-Mañon at (800) 442-5762, ext. 6486 or lwebb-manon@tcul.coop.

Specific questions about the conferences can be directed to Federation Program Officer Valerie Harrison at (800) 437-8711 x 218 or vharrison@cdcu.coop; or Federation Associate Director of Membership Pablo DeFilippi at x 304, or pablo@cdcu.coop.

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The Texas Credit Union League is the official trade association for credit unions within the State of Texas. The League represents, on a state and federal level, nearly 600 credit unions statewide, which are owned by more than seven million members (about one-third of the state’s population). Organized in 1934, the Texas Credit Union League protects credit unions and promotes their growth, strength and unity. It accomplishes the mission through advocacy services, regulatory and compliance advice, training and event activities, marketing and public relations actions, and by delivering innovative, high value and profitable business solutions to the members. For more information, visit www.tcul.coop and www.creditunionmember.org; write to us at 4455 LBJ Freeway, Suite 1100, Dallas, Texas 75244, or call us at (800) 442-5762, Ext. 6400.

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The Network of Latino Credit Unions and Professionals (NLCUP) is the result of a collective effort of respected and well known credit union leaders with strong track records.  The common purpose of NLCUP’s founders was to create a network to promote and sponsor credit union benefits within the Latino community.  Their commitment is to serving the Latino community which not only fills a social need, but also represents a great business opportunity.