As the Hispanic/Latino population continues to rise in pockets across the U.S. — including by 37.6% in Utah from 2010 to 2020 — the community demonstrates an increasing market opportunity for CDFIs and other credit unions. The Hispanic and immigrant communities also face barriers when it comes to accessing financial products and services that CDFIs are uniquely positioned to address.
Juntos Avanzamos, which means “together we advance,” is the byproduct of an international relationship between the Mexican credit union system and the Texas credit union system. It began in 2002 as the People-to-People Partnership between Caja Popular Mexicana (CPM), the California Credit Union League, the Texas Credit Union League (now known as Cornerstone League), and the World Council of Credit Unions.
“There was this strong interest in Mexico and Texas to understand how they could better serve the Hispanic population on each side of the border,” explains Pablo DeFilippi, executive vice president of the Inclusiv Network. “CPM’s interest was to maintain their connections with Mexican migrants that were coming to the US.”
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