Consumers Credit Union Wins Mastercard’s Financial Literacy & Education Award
Consumers Credit Union has been recognized by Mastercard® for its unwavering commitment to expanding financial literacy and education within the Spanish-speaking community. This is the fifth year in a row that Consumers has been honored with the esteemed Mastercard Community Institution Segment Award, being one only a select few of financial institutions that have received the award for consecutive years. This year, Consumers received the award in a newly introduced category: Financial Literacy & Education.
In 2024, Consumers launched several initiatives aimed at increasing its cultural outreach and expanding its bilingual capabilities:
- Partnered with Velera (formerly PSCU) and its Spanish contact center to improve communication options and live translation backup services
- Launched a partnership with Ube Hispano, a local non-profit with the mission of fostering business connections and providing education for the Hispanic business community
- Partnered with a local school district’s Migrant Education program to provide financial literacy to the children of migrant workers in Michigan
- Increased the number of member-facing bilingual employees by 17% from 29 employees to 34 employees during 2024
- Translated a number of how-to guides and other basic disclosures for key non-English speakers
“Consumers is committed to financial inclusion,” said Credit Card Product Specialist Mohammed Haque. “Mastercard’s recognition is a testament to our commitment to making financial literacy accessible through impactful programs that provide lasting opportunities for our Spanish-speaking members.”
As a result of these efforts, Consumers welcomed 2,400 members whose primary language is not English, including 300 who are enrolled in its Credit Smart program, which aims to give our members the opportunity to build, re-establish or improve credit and learn the best way to use credit responsibly.
“We are deeply honored to receive this recognition from Mastercard,” said Language Services Manager Julie Baltmanis. “Our bilingual team plays a crucial role in expanding financial literacy to the Spanish-speaking community by making banking accessible and supporting members toward financial stability.”
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