Inclusiv, formerly known as the National Federation of Community Development Credit Unions, will host a complimentary webinar that will explore how credit unions can serve members who lack traditional forms of identification. The webinar will be held at 2 p.m. tomorrow, Oct. 8, and all credit unions are invited to participate.
The session — which is being held in collaboration with PolicyWorks, Cooperative Federal Credit Union and the Resurrection Project — is the third installment of a webinar series devoted to Inclusiv’s Hispanic outreach program, Juntos Avanzamos.
During the webinar, participants will:
learn about the rules and regulations that are relevant to the acceptance of alternate forms of ID;
receive an update on the common identification and documentation types used by Hispanic foreign nationals and other alternate forms of ID, such as municipal IDs;
explore common and less common scenarios and questions from Juntos Avanzamos credit union employees opening accounts daily; and
learn how other credit unions are working to promote financial inclusion by accepting alternate forms of ID.
According to Inclusiv, 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 U.S. general population. On the other hand, 14% of Hispanic households are reported to be unbanked, and one of the most consequential barriers to financial inclusion for Hispanic and immigrant consumers relates to documentation requirements at account opening.
To learn more or register for the webinar, visit Inclusiv’s website.