Banks’ effort reaches out to Hispanic community

Banks’ effort reaches out
to Hispanic community

issued by Mexican govt.

accepted as personal ID

BY CLARE MARIE CELANO

Staff Writer

The Hispanic population in Monmouth and Ocean counties is growing and several banks in the region are doing something to accommodate that population.

Among the banks that now accept the matricula consular, an official form of identification issued by the Mexican government to Mexican nationals who live and work in the United States are Wachovia Bank, Fleet Bank, Commun-ity Bank of New Jersey, the Bank of New York and PNC Bank.

A spokesperson at the Bank of New York was the only bank representative who indicated that the matricula consular can only be used as a secondary form of identification.

The matricula consular makes no mention of the bearer’s legal or illegal immigration status in the United States. The card identifies a Mexican national who is in the United States and sought to have some type of official identification available.

According to Zelmi Cappola, financial specialist for Wachovia Bank, Freehold Borough, bank officials are accepting the matricula consular together with other forms of identification in order to allow members of the Hispanic community to open checking accounts, savings accounts and to use other services provided by the bank.

Although Cappola, who is bilingual and heads up the community outreach program at Wachovia Bank in the borough, declined to disclose specific figures, she said members of the Hispanic community are using the matricula consular to avail themselves of bank services they would not otherwise be able to obtain.

There is a "definite need for this type of outreach program for members of the Hispanic community in the borough," Cappola said. "Our role is to help our customers improve their financial literacy, regardless of age or demographics."

According to Christine Shah, a spokeswoman for the bank, the matricula consular is issued by the Mexican consulate in the United States.

"The acceptance of the identification [was] sparked in late 2001 by several major banks, predominantly in the west," Shah said, adding that Wachovia started accepting the matricula consular a short time later. "We are strongly committed to diversity and to serving all members of our community."

Wachovia officials made the decision to accept the matricula consular as a means of identification for Mexican nationals who use it primarily to open a consumer deposit account, Shah said.

Customers who use the matricula consular as a primary means to open accounts are required to follow the same procedures as any other customers, according to Shah, which means presenting other forms of identity when applying for a bank account. Other forms of identity which may be used in conjunction with the matricula consular are a passport, a tax identification number, a work identification, a driver’s license or a state identification card.

Shah said that in addition to a checking account, there are various types of bank services that customers carrying the proper identification can qualify to have, such as an ATM card, certificate of deposits and savings accounts. They will also be entitled to purchase money or­ders, bank checks and travelers checks. There are also a variety of checking ac­counts available and Shah said qualified banking personnel will help customers choose which type of account suits their current needs.

"We sit down with our customers and help them choose which type of account is best for them," Shah said, adding that Wachovia also sponsors financial literacy classes and one-to-one personal meetings with bilingual bank officers for their Hispanic customers.

The financial literacy classes which help customers learn how to use a basic checking account are taught by Wachovia employees who "volunteer their time and knowledge to benefit the community," Shah said.

Many of the bank’s signs, brochures and merchandise is printed in Spanish to make customers more comfortable and in­formed of current services.

Shah said bank officials are trying to recognize markets that have a large Hispanic population and are hiring bilingual employees to meet this need.

Shah added that bank officials are try­ing hard to help all their customers, "especially with the environment we are in. We want to know the customers in our community, especially now. We do comply with anti-money laundering standards and the Patriot Act standards. We believe that the matricula consular identification, which is sponsored by the Mexican government, follows the current Treasury Department procedures for verifying the identity of this population. We are committed to protecting our customers and shareholders, but we are also committed to the merging market of diversity and communities that we serve."