Fifth Third Bank looking For Hispanic Consumers In Chicago.

Fifth Third Bank, Chicago, has begun a series of programs tailored to better serve the unique needs of the Chicago-area Hispanic community.

“As a first step,” said Bradlee Stamper, President and CEO of the bank, “we have begun accepting two new means of identification for persons otherwise shut out of the U.S. banking system.

“Starting now, we will honor the Matricula Consular Card issued by the Government of Mexico and the Internal Revenue Service’s Taxpayer Identification Number as legal identification for undocumented immigrants who lack Social Security numbers to open savings and checking accounts.”

The action makes Fifth Third Bank, Chicago, one of the first banks in the nation to extend banking privileges to undocumented immigrants. The bank serves several predominantly Hispanic communities in its service area, an 11-county region in Northern Illinois and Northwest Indiana.

The Matricula Consular Card incorporates a series of security features making it extremely difficult to forge or counterfeit. It is available through the Mexican consulate in Chicago and is offered by the Government of Mexico to improve security and economic mobility between the United States and Mexico.

The card and the IRS identification number offer undocumented immigrants access to checking, savings and debit card services for the first time at any of Fifth Third Bank’s 116 banking locations.

“These two new identification systems are just the first phase of a major effort throughout our banking system to better serve the Hispanic community,” Mr. Stamper said.

Bank literature is being rewritten and republished in Spanish, as well. And, ATMs are being modified to communicate in both English and Spanish.

“Our staff has always had a certain bilingual capability,” said Mr. Stamper, “and we’re expanding that base to include more and more Spanish- speaking service representatives.

“In addition, we have planned an entire series of new banking services specifically for the Hispanic marketplace, tailored to the needs of this significant and growing segment of our community.”

Among those offerings would be specializing personal loan, mortgage loan and other lending packages, user-friendly checking and savings options, and a range of commercial and business banking services designed just to the Hispanic business community.

Mr. Stamper pointed out that U.S. Census Bureau data shows the entire Chicago metropolitan area boasts the nation’s fourth-largest Hispanic population — 6 percent.

“These communities include individuals and businesses characterized by very high regard for financial security and thrift. Key household measurements show high levels of concern for the well-being of their families, and very high thrift and achievement goals, making them the kinds of customers we like to serve,” Mr. Stamper said.