You can Bank on Latino Growth!
Did you know that Latinos represent 14.5 percent of the U.S. population? Furthermore, the U.S. Latino
population is expected to grow by more than 1.7 million people a year. That’s approximately 100,000
people every three weeks, 5,000 people every day. Latinos will comprise 18 percent of the U.S.
population by 2024, according to United States Census Bureau statistics.
Latino households will be one of the fastest growing segments of overall number of U.S. households,
increasing from 9.3 million to 11.9 million in 2010, representing a robust 36 percent growth rate
between 2000 and 2010, according to the U.S. Census.
About 22 million U.S. households are unbanked, according to the Survey of Income Participation 2000.
The 2004 Survey of Consumer Finances from the Federal Reserve Board states approximately 34
percent of all Latinos born in the United States are unbanked.
It is estimated that Latino purchasing power in the United States will jump 89 percent between 2000
and 2007 from $491 billion to $926 billion, as reported in BAI Banking Strategies.
What is your bank doing to meet the financial needs of the
fast-growing Latino market?
Just translating your current brochures into Spanish is not enough. To reach
out to the more than 8 million “unbanked” Latinos in the United States and
create loyal clients takes commitment. The results will be well worth your
The Latino market is expected to account for up to 70 percent of the growth for
U.S. financial services from 2003 to 2008, according to a 2003 projection by
The TowerGroup, a research firm that studies the global financial services
industry. One-third of all U.S.-born Latinos and over half of all Mexicans don’t
have bank accounts, according to 2000 Census statistics.
A Holistic Approach to the Latino Market
Latino Banking Solutions teams up with banks to bring Latino immigrants into
the financial mainstream with the right mix of innovative products,
infrastructure, financial education, marketing, advertising, and outreach
programs. By following our me method we are able to create a plan that
will address the needs of our customers
Look at Brochure!