Savvy bankers understand the importance of establishing relationships with foreign born Hispanics at the beginning of the acculturation process.  Education is an important part of the dialogue.  While many consumers are familiar with the fast food industry because they come from countries where Burger King operates, the same may not be true when it comes to financial services. 

• Advertising is key.  Businesses that advertise are seen as more credible, particularly among more recent or less educated immigrants.
• Word of mouth strongly influences purchase decisions.  Positioning a bank, S&L, or credit union as Hispanic-friendly will quickly become known in the community.
• Testimonials are a powerful tactic.  Use them in ads, brochures, and direct mail.
• Bilingual signage and customer service personnel communicate respect and appreciation of your Hispanic customers.

Eventually, the "unbanked" Hispanics will open a bank account and that will lead them to use other banking services, like loans to buy homes.  Will they go to your bank?

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