Spanish-speaking immigrants 5x less likely to use credit unions

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Financial services can be confusing but for non-English speaking ones living in the U.S., which at last count is more than 41 million, accessing financial services and products can be a huge problem.That’s according to the Consumer Financial Protection Bureau, which recently released a report on financial education programs geared toward immigrant populations.The CFPB found that Spanish only speaking households are five times less likely to use a bank or credit union. That’s a pretty big deal since, according to the Consumer Financial Protection Bureau, Hispanics are the largest ethnic or racial minority in the U.S., making up about 17 percent of the country’s total population. What’s more, of the citizens in the U.S. that speak another language other than English at home, 62 percent are speaking Spanish. continue reading »last_img read more