updated 01/22/13 10:31 AM
The Applied Research Institute and the California and Nevada Credit Union Leagues commissioned a new report highlighting opportunities for credit unions in California and Nevada to grow their membership through service to local Hispanic populations. In California, Hispanics represent 38 percent of the state’s population; 1 in 6 businesses are Hispanic-owned (17 percent); 41 percent are underserved; the state is No. 1 in nation in Hispanic buying power; and Hispanics have $265 billion in disposable income. In Nevada, from 2000 to 2010, the state’s Hispanic growth rate (82 percent) outpaced California (28 percent), Texas (36 percent), and Florida (57 percent); 8 percent of businesses are Hispanic-owned, approximately 18,000; North Las Vegas and Las Vegas have the highest ratio of Hispanic-owned businesses; and more than half (more than 350,000 individuals) are underserved.
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