March 10, 2006
American Banker
Ben Jackson

Immigrants from Latin America are the nation's the fastest-growing group, but many banks are just now seeing demographic changes in their markets.

It is those banks that Appleseed, a nonprofit policy organization in Washington, wants to educate. Last month it published a 39-page guide on how to market financial services to Hispanics.

Banks should not depend on immigrants coming to them, because many have no experience with banks and do not see the benefits of having an account, said Ann Baddour, a senior policy analyst with Appleseed Texas.

"Also we have a large influx of people coming from countries where financial institutions were not regarded as trustworthy or inviting," Ms. Baddour said.

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