Downtown bank caters to Spanish speakers

Feb 27, 2007 01:15 PM EST

Spanish-speaking bank

Indianapolis - It's the first of its kind in the Midwest: a financial center designed for the Spanish-speaking community.

Located next to the Mexican consulate in Union Station, the new Financial Center Credit Union branch will have a Spanish-speaking staff and show videos explaining the benefits of using a bank.

Opening a checking account and using direct deposit are foreign concepts to many residents who come from Latin America.

"Especially in our countries, banks - they are very different than they are here so they see them as not like a trusting institution," said Antonio Cato, branch manager.

The result is that many Hispanics living in the United States refuse to deposit money in banks. Instead, they carry large sums of cash, a practice that makes them attractive targets to thieves and burglars.

"We've interviewed suspects previously that have indicated that is one of the reasons they target the Hispanic community because they know that Hispanics commonly won't trust a bank or open a bank account," said Lt. Doug Scheffel, IMPD.

The credit union has opened up branches on the west coast that cater specifically to the Hispanic community, but this is the first such attempt here in the Midwest.

"The population is growing fast here in Indianapolis. It's one of the fastest in the nation in percentage levels so there's a big need out there," said Larry Marcum, Financial Center Credit Union.

The Financial Center is banking on that need. The new branch is scheduled to open Monday morning.


http://www.wthr.com/Global/story.asp?S=6149360