News

Reaching out to new Americans, new customers

11.30.2011
A group of refugees and immigrants gathered recently at cPort Credit Union for a lesson in financial literacy, an introduction into the mysteries of overdraft fees, first-car loans and the locations of no-charge ATMs.

The workshop also served as an introduction between the credit union and the city's immigrant community, which financial institutions view as a growing market of potential customers. According to 2010 U.S. Census Bureau data, Portland's foreign-born community increased from 4,895 to 7,252 in a decade. (The Census does not specifically track refugees and immigrants.)

"We definitely want to be prepared and available to offer them banking services," says cPort President Gene Ardito, "as I'm sure the other financial institutions want to do. It's a growth area in the local population, and it's important to support them with their financial needs."

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