| The Mexican Business Council of Los
Angeles Applauds B of A's Credit Line to New Immigrants
The Mexican Business Council of Los Angeles (COEMLA) applauds
Bank of America's new initiative that offers credit cards to customers
without Social Security or Credit Card history, which will benefit
thousands of immigrants through out the Los Angeles area.
"We applaud B of A for making banking accessible to the immigrant
population," said Javier Martinez, president of the Mexican
Business Council of Los Angeles (COEMLA), a 501(c) 6 a non-profit
organization formed to help first and second generation business
owners of Mexican-origin, who are primarily Spanish speaking.
More importantly, Martinez said that B of A's added services such
as checking accounts and mortgage loans," will help immigrants
contribute to the local economies and reach the American dream
by allowing them to have a place they can call home. It is also
gives them the option of having a safer way of spending compared
to carrying cash."
COEMLA considers that Bank of America's plan adjusts to the realities
of new immigrants in the Southern California market: "This
will benefit all sectors of the regional economy. We urge B of
A to be proud of their initiatives. We welcome your efforts and
urge you not to be afraid of doing business with our community."
Martinez said that that Mexican immigrant and business owners
will benefit most from these new services citing a recent report
from the Pew Hispanic Center that estimates that there are more
than 10 million undocumented immigrants in the U.S., of which
57 percent (5.9 million) are of Mexican origin.
"B of A's new initiative will be tapping into a large engine
of economic growth," Martinez added.
Martinez said that COEMLA members embrace Bank of America's new
credit card program which has expanded to 51 local locations,
"as an exceptional way for immigrants to build credit. The
newly implemented initiative will not only benefit immigrants
but will also help boost local and nation-wide economies. It will
allow thousands of family owned business to grow."
Lastly, COEMLA also applauds Wells Fargo, Washington Mutual, Banco
Popular and Union Bank of California for their outreach and service
to the immigrant communities in all sectors of the Latino community.
The Mexican Business Council of Los Angeles is a non-profit organization
funded by entrepreneurs and professionals of Mexican origin of
Greater Los Angeles. It was founded in response to the need of
establishing an institutional arena that would allow a more fluid
interaction and communication amongst people of common experience
The Mexican Business Council of Los Angeles emerged in 2003 by
the initiative of a group of entrepreneurs and professionals in
response to the fast growth of the Mexican business community
in the area of Greater Los Angeles and the sense of a lack of
organization that reflected the particular experiences, interests
and concerns of the business people of Mexican origin.
The group is comprised of 50 members from grocery, construction
and technology consultants that have a yearly net gross profit
between $1,000, 000 to $500,000. All of the members are based
in southern California and the Western United States.
The Mexican Business Council was formally incorporated in October
of 2003 as a non-profit professional organization 501 (c) (6).
All of its founding members belong to the business community of
Greater Los Angles and share a common experience as migrant entrepreneurs.
receive our business newsletter and/or send your comments:
© Contacto Magazine -
Privacy Notice -
Home - Send