Inclusiv, formerly known as the National Federation of Community Development Credit Unions, in collaboration with Coopera, Filene, and Neighborhood Trust FCU, invites you to join its ITIN Lending: An Overview of the ITIN Lending Guide webinar on Tuesday April 9th, 2019 at 1:00pm ET. The webinar is organized as a Juntos Avanzamos learning opportunity.
Hispanics have become an important part of the U.S. society, culture, and economy. They are the largest minority group in the United States and constitute 18% of the country’s total population. According to a recent study from the University of Georgia, the spending power of the Latino population rose from $210 million in 1990 to $1.7 trillion in 2018. The average age of a Hispanic American is 27, compared with 43 for the general population. On the other hand, 14% of Hispanic households are reported to be unbanked.
The Hispanic market is key for our future growth and relevance. Building our capacity to meet the needs of this demographic is a worthwhile investment. This is where mission and margin come together. ITIN Lending is one of the many ways credit unions can grow and integrate Hispanics and immigrants to the U.S. financial system. With the purpose of providing guidance to financial institutions interested in adopting ITIN Lending programs, and to scale the growth of ITIN Lending to as many communities as possible, the Filene Research Institute (Filene), Inclusiv, Coopera, and PolicyWorks, recently published the ITIN Lending Guide. The guide consolidates best practices, tools, and resources from credit unions and other stakeholders that have refined ITIN lending over many years and are committed to serving the underserved.
Join us to:
Explore the ITIN Lending Guide
Learn about the characteristics of an ITIN Lending Program
Learn about ITIN Lending best practices from an established Juntos Avanzamos Credit Union
Sources for Hispanic Market Overview:
2017 FDIC National Survey of Unbanked and Underbanked Households,
Descubrimiento Digital, The Online live of Latinx Consumers, 2018, The Nielsen Company
The Power of the Purse, How Hispanics Contribute to the U.S. Economy, New American Economy, 2017
Harris Poll, Banking on Latinos for Growth, GFK MRI 2017