Posted on 04/08/2002 4:07:42 AM PDT by GRRRRR
Fifth Third Bank, Chicago, Launches Major Initiative in Hispanic Communities
April 2, 2002
New Account Opening Procedures and Spanish Advertising Campaign Key Elements of Program
Fifth Third Bank, Chicago, has launched a series of programs tailored to better serve the unique needs of the Chicago-area Hispanic community, including new account opening procedures and a Spanish language advertising campaign.
"Fifth Third's acquisition of Old Kent Bank gave us the unique opportunity to serve Chicagoland's growing Hispanic community, and we're eager to put the resources and convenience of Fifth Third to work there," offers Bradlee F. Stamper, President & CEO, Fifth Third Bank (Chicago). "Our first step — and it's a crucial one — is to start accepting new means of identification for persons otherwise shut out of the U.S. banking system. Starting now, Fifth Third 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 proper identification 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. Fifth Third Bank, Chicago, serves several Hispanic communities in its 11-county region in northern Illinois and northwest Indiana with 116 full-service Banking Center locations.
Fifth Third's new identification systems are the first phase of a significant effort to market to the Hispanic community in Chicago. Fifth Third is also launching a Hispanic advertising campaign focusing on its core deposit products including Totally Free Checking, Fifth Third's hassle-free account that does not charge a minimum balance fee or carry monthly minimum charges, and Platinum checking that pays interest on higher balances. Each of these accounts will soon be accessible at all Fifth Third's bilingual Jeanie ATMs and customer questions can be addressed by calling Fifth Third's bilingual customer service line at 1-800-726-3493.
"Our staff has always had bilingual capability," said Mr. Stamper, "and we're expanding that base to include more and more Spanish-speaking service representatives. Our brochures are being re-written in Spanish and we're planning an entire series of new banking services specifically tailored for the Hispanic marketplace including loans, checking and saving options, and a full range of business banking services."
Mr. Stamper continues, "The Chicago metropolitan area boasts the nation's fourth-largest Hispanic population at 6%. These communities include individuals and businesses characterized by a very high regard for financial security and thrift. Key household measurements show high levels of concern for the well-being of their families and high achievement goals, making them the kinds of customers we want to serve better."
Fifth Third Bank, Chicago, is a wholly owned subsidiary of Fifth Third Bancorp. The Chicago subsidiary has $8.5 billion in assets, $6 billion in deposits, 400,000 customers in Northwest Indiana and Northern Illinois. It operates four major businesses: retail, commercial, investment advisors and consumer lending through 116 full-service banking centers in a 11-county area from Elkhart, Ind., to Sterling, Ill.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $71 billion in assets, operates 16 affiliate banks with 927 full-service Banking Centers, including 136 Bank Mart® locations open seven days a week inside select grocery stores and 1,830 Jeanie® ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida and West Virginia. The financial strength of Fifth Third's affiliate banks continues to be recognized by rating agencies with deposit ratings of AA- and Aa2 from Standard & Poor's and Moody's, respectively. Additionally, Fifth Third Bancorp continues to maintain the highest short-term ratings available at A-1+ and Prime-1, and was recently recognized by Moody's with one of the highest senior debt ratings for any U.S. bank holding company of Aa3. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisors and Midwest Payment Systems, the Bank's electronic payment processing subsidiary. Investor information and press releases can be viewed at www.53.com. The company's common stock is traded in the over-the-counter market through the NASDAQ National Market System under the symbol "FITB."
See my post #19
Not the point. If they bank they will be tracked and taxed. And possibly deported.
The bank will not actually ask them if they are "undocumented", only ask for a valid Mexican id.
Most of these people don't pay taxes. Most are low income and by the time they file, they end up getting most or all of their money back.
Besides, illegal means just exactly what it says. ILLEGAL!!
Try contributing something useful if you can.
Not that I approve of illegal aliens, nor this bank and its sleazy marketing gimmick, but it is true that we Americans can open bank accounts in just about any country that allows it.
Heck, I've had bank accounts in Singapore and Vietnam, of all places.
And there are 100 percent legitimate international banks (e.g., Citibank, HSBC) that will let Americans open accounts in more than 100 countries. You (we, I) can even open a Channel Islands account online, over the Internet (subject to providing followup ID, bank refs, address confirmation, etc).
The illegal alien issue is separate from the notion of banking practices, although there clearly is something wrong with a bank accepting these bogus Matricula IDs.
1) Americans currently don't have to prove US citizenship to open a bank account, and could not, given that we don't have (nor do we want) a national ID card. Birth certificates - the only "proof" of native US citizenship (except US Consular documents) - are not acceptable ID because they are easily forged.
2) As I mentioned, anyone can open an offshore account with Citibank or HSBC or many other banks regardless of their visa status anywhere in the world. E.g., you can open an account from Costa Rica whether your Costa Rican visa is current or not. All you need is proof of your residence address, and again that is a separate issue from your visa status.
So in the end the only solution here - barring wholesale changes to the US and international banking systems - is a ruling from the Treasury Dept. or DoJ that Matricula IDs are not to be accepted for identification in the United States.
AS IS THEIR RIGHT!!! ARE YOU A COMMUNIST WHO BELIEVES PEOPLE DON'T HAVE THE RIGHT TO DO WITH THEIR MONEY AS THEY PLEASE?
Funny, when did Free Republic become "Stalinist Republic?"
For all I care, you can take your money and use it to fire off the mesquite in your BBQ. Comprende?
I agree that we should put pressure on said bank to alter its policies (it has worked for the Gays!). Nevertheless, we should also go after our neighbors who hire the illegals.
The Matriculas are as worthless as the paper they are printed on. I would like to see them not accepted as ID but the government is caving in to pressure from Hispanic activist groups.
When I opened my last account with a bank, I had to have proof of residency etc. I had to show my drivers license and Social Security card. I also always carry a certified copy of my DD-214 with me. That carries a lot of weight.
I agree - and we can do so. The laws are already on the books. Why isn't our government enforcing the laws and the Constitution of the United States?
They have an 800 telephone number. 1-800-972-3030. They also have a "contact us" link on their site. Just click on your link and then click contact us. That will put you in contact with the Fifth Third (world) Bank.
That's correct. And as long as "we Americans" don't jump the border of said country via the undercarriage of a motor vehicle, cross the border with a fraudulent visa/ID, or continue to stay in that country with an expired visa, we will likely continue on with that priviledge. I have nothing against foreigners investing their money in our banks. I am against foreigners being here ILLEGALLY and against anyone or anything tolerating their presence here. Period.
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