Cal National Bank released this week the Community Banker’s Guide to Hispanic Marketing. The purpose of the Guide is to provide a roadmap to developing and implementing an effective Hispanic marketing program.

With 60 percent growth in population between 1990 and 2000, Hispanics have become America’s fastest growing minority group. After the 2000 Census, Hispanics became the largest minority group representing 12.5 percent of the U.S. population. This growth is expected to continue, with Hispanics projected to represent 25 percent of the U.S. population by 2050. In addition, the Hispanic market is becoming increasingly affluent. Research has found the rate of $100,000-income earners with assets in excess of $500,000, exceeding by eight times the non-Hispanic segment. While Hispanics are a large and growing population, they have historically eluded traditional financial institutions.

The Guide addresses questions such as who the Hispanic market represents, why the Hispanic market is so important to financial institutions, the challenges associated with Hispanic marketing, solutions to the challenges and the products and services that are appropriate for reaching the Hispanic market. The Guide is available for download at www.CalNationalBank.com/pdfs/hispanicmarketing2005.pdf.

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