MEDIA TRENDS: Bilingual to English Dominant.
It is well known that the Hispanic market is the fastest growing in the U.S.,
and credit unions nationwide are seeking to tap this market in multiple ways.
The largest obstacle most identify is getting their forms, publications, staff,
etc. fully bilingual. Largely overlooked may be the fact that 63% of the Latino
population in the U.S. is predominantly English speaking, and 26% of all U.S.
Latin people only speak English. It is projected that by 2020, 75% of the Latino
population will be “Bilingual to English Dominant” – that
is, bilingual with Spanish as their first language, yet who primarily speak,
read and communicate in English *.
The drivers of this trend are second and third generation Latino children.
In the Hispanic US population
- 24% of first generation are bilingual
- 47% of second generation are bilingual and 46% are English dominant, and
- 22% of third generation are bilingual while 71% are English only**
For those credit unions seeking to tap the largest “middle class”
segment and rejuvenate their membership base with young people, take note: About
70% of the Hispanic population is under 30, representing 1.2 million households
with average household incomes $75,000+. The driving growth opportunity in the
US today is a Hispanic market which is young, acculturated, and increasingly
How do you reach this market? Hispanic media is presented in Spanish and is
most effective in reaching first and second generations. Yet if the largest
market opportunity is English speaking third generation Latinos, it presents
a unique challenge. Reaching this market segment culturally appears to be the
key, and one media corporation is taking that leap in early 2005.
**Source: MPA, Pew Hispanic Center Survey Brief, March 2004
***Source: MPA, CMI
A new, first of its kind publication is launching this May in Los Angeles called
Tu Ciudad Los Angeles and is backed by Emmis Communications
– a diversified media company with radio and television broadcasting and
magazine publishing operations (NASDAQ: EMMS). Tu Ciudad Los Angeles
will be published in English, but will focus intently on the lives, culture
and interests of Latinos in Los Angeles. It will seek to communicate to the
cultural aspect of the Hispanic market, as opposed to the linguistic aspect.
Launching in the city with the nation’s largest Hispanic population,
Ciudad will be an entertainment guide and a magazine
that tackles serious issues with a team of distinguished journalists. The Executive
Editor is Angela Figueroa, a revered leader in the publishing industry for his
insight and knowledge of Latino culture in the U.S. Figueroa was the launching
editor for People en Espanol, a former Editor-at-Large for Time magazine,
and directed the successful relaunch of AOL Latino. Editor-in-Chief
will be Oscar Garza, a Raul Julia Awardee for Public Service from the National
Hispanic Foundation for the Arts, former Deputy Editor of the Los Angeles
Times Magazine, editor of LA Times Daily Calendar, and supervisor
of LA Times Latino Initiative, launched to improve coverage of the
Credit union cooperative advertising agency Market and Sales Logic has been
selected as Ciudad’s exclusive credit union partner to develop educationally
based and credit union supported financial content. If you are interested in
learning more about Ciudad, the market strategy behind it, and of this growing
market, please contact Kristin Witzenburg at firstname.lastname@example.org
or (310) 212-9950. Ciudad will be featured at MSL’s fall media retreat,
but MSL will sponsor a presentation via the web or at the site of Emmis Communications
in the Mid-Wilshire district of Los Angeles for interested credit unions.
About Market and Sales Logic
Market and Sales Logic uses a patent-pending method of cooperative advertising
for credit unions that achieves leverage, bulk rate pricing, and brand return.
Cooperative programs in Los Angeles, San Francisco, and Silicon Valley have
been launched since its inception in September of 2003. Recently signed as media
buyers by Patelco Credit Union, Southland Credit Union, American First Credit
Federal Credit Union, and Lockheed Credit Union, among others, Market and Sales Logic seeks
to build partnerships between credit unions and media for cost efficient and
highly effective communication with consumers. Founded by Kristin Witzenburg
and Kristie Greenleaf, both former credit union executives, Market and Sales
Logic is headquartered in the Los Angeles area. For more information visit www.marketandsaleslogic.com.