Unitus Community Credit Union Enters Formal Partnership with the Consulate of Mexico in Portland

Unitus Community Credit Union just signed a Memorandum of Understanding with the Consulate of Mexico to establish a partnership to provide education and services to members of the Mexican community in Portland. Unitus is just one of two credit unions in Oregon to set up this partnership with the Consulate of Mexico, and only one of a few in the United States.

As part of the partnership, Unitus will create an inclusion and financial education program at the Consulate. In addition, Unitus has committed to accepting the Matricula Consular ID Card as a form of acceptable identification to open new member accounts. The credit union will also participate in the Consulate’s Consulados Moviles (mobile consulate) program, reaching rural areas with financial education and resource information.

Consular Carlos Quesnel Melendez told Univision Portland that this partnership creates services and access for Hispanics in Portland.

“How to obtain your ITIN in the U.S., how to obtain your federal registration in Mexico, how to start a business, both here and in Mexico, how to obtain housing credit. In other words, we have a series of services,” explained Consular Quesnel.

As part of the partnership, Unitus will provide exclusive financial education-related videos that will be shared on social media. Unitus will also teach workshops and be on-site at the Consulate’s pop-up events around the metro area.

“The consulate represents a lot of people here, and it’s a focus point for resources to help people,” said Steven Stapp, President and CEO of Unitus. “We are part of the community, and we want to be with them, too.”

The Federal Reserve reports that 10% of U.S. Hispanics do not bank with a financial institution. Another 22% are considered “underbanked,” which means they may have a bank account, but often rely on alternative services like money orders or payday loans for their financial needs.

 

Posted in Member News.