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Banker & Tradesman file photo
Chelsea-based Metro Credit Union has become the first credit union in Massachusetts to receive the Juntos Avanzamos (Together We Advance) designation by the National Federation of Community Development Credit Unions.
In the U.S., minorities remain largely unbanked and vulnerable to predatory financial service providers. Established in 2005, Juntos Avanzamos recognizes commitments from credit unions seeking to empower the Hispanic consumer and serve the Hispanic market more effectively.
In order to earn the Juntos Avanzamos designation, credit unions must demonstrate that they offer affordable credit, savings and transaction services, and that they make their products, services and financial education accessible to Spanish-speakers.
Credit unions must complete an extensive application, requiring information about what products and services the credit union offers to specifically address the needs of the Hispanic market, as well as what strategies they are utilizing to serve this important demographic group.
“We’re honored to receive this designation and are proud to serve the Hispanic and immigrant populations in Massachusetts,” Robert M. Cashman, president and CEO of Metro Credit Union, said in a statement. “We believe that everyone deserves the opportunity for a better financial future, and we’re committed to identifying and serving the needs of our diverse, multi-ethnic community.”
