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Alvaro Macias 2014 CUES Next Top Credit Union Exec Presentation

Alvaro Macias is a 35-year-old Community Development Coordinator at Ascentra Credit Union ($340M) in Bettendorf, Iowa, United States.

This is his Finalist presentation that he gave in Amelia Island, Florida as part of the 2014 CUES Next Top Credit Union Exec competition.

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Alvaro Macias 2014 CUES Next Top Credit Union Exec Presentation

  1. 1. Alvaro Macias Community Development Coordinator Ascentra Credit Union ($340M) Bettendorf, Iowa
  2. 2. The New Iowans Initiative
  3. 3. INDUSTRY CHALLENGES ○ Slow membership growth of CUs ○ Increased scrutiny of financial institutions ○ Competition – fringe financial services, Apple Pay, PayPal, Wal-Mart ○ Aging population and membership of CUs
  4. 4. OPPORTUNITIES IN SERVING IMMIGRANTS ○ Immigrants tend to have larger families ○ Immigrants tend to be younger ○ Immigrants are in their prime borrowing years ○ According to FDIC 40-55% of Latino immigrants are unbanked
  5. 5. THE FOUNDATION ○ About 2004 – Recognition of the opportunity ○ 2010 Census: Muscatine, Iowa ● 16.6% Hispanic ● 6.9% Foreign born ○ 2010 Census: Iowa ● 5% Hispanic ● 4.3% Foreign born
  6. 6. OUR PROGRESS ○ Added products, services & adjusted account opening process ● International money transfers ● Market loan products ○ Quarterly internal & external advisory groups ○ Involvement in events
  7. 7. OUR GROWTH SINCE 2010 ○ Hispanic growth at Ascentra have risen 35% since 2010 ○ Overall membership growth since 2010 is 8%
  8. 8. NEW IOWANS INITIATIVE ○ Partnership with Diversity Service Center of Iowa (DSCI): Non-profit immigration services provider ○ Perfect timing: grant opportunity ○ Awarded a grant for $37,500 to create an immigrant asset-building initiative
  9. 9. A GENEROUS GRANT FROM... ○ Grantmakers Concerned with Immigrants and Refugees ○ The National Federation of Community Development Credit Unions ○ Northwest Area Foundation
  10. 10. THE PARTNERSHIP WITH DSCI ○ Ascentra has a proven track record of working with the immigrant community ○ DSCI has the trust of the immigrant community in our region ○ DSCI loses potential clients because they don’t have the money to pay for costly immigration fees ○ We provide financing to people who may otherwise put their services on hold
  11. 11. STRUCTURE OF LENDING ○ $24,500 has been put into a DSCI Account ○ The amount will be used as collateral for “Citizenship Loans” ○ DSCI will contact designated Ascentra staff informing us of a referral ○ The new member comes in, applies for the loan and DSCI signs off on using their account as collateral ○ The remaining $13,000 are used for a part-time program coordinator at DSCI
  12. 12. NEW IOWANS INITIATIVE OUTREACH Marketing ● Collateral Material & Web ○ Flyers ○ Brochures ○ Ascentra.org/NewIowans
  13. 13. NEW IOWANS INITIATIVE ○ Is it for everyone? ○ Do you know the demographic trends in your region, state, or city? ○ Planning ○ Final thoughts...
  14. 14. FINAL THOUGHTS... ○ Do you plan on being in business in 2040?
  15. 15. QUESTIONS? Ascentra.org/NewIowans
  16. 16. Q&A with Alvaro

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Alvaro Macias is a 35-year-old Community Development Coordinator at Ascentra Credit Union ($340M) in Bettendorf, Iowa, United States. This is his Finalist presentation that he gave in Amelia Island, Florida as part of the 2014 CUES Next Top Credit Union Exec competition.

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