Impact that Inspires: Celebrating Hispanic Heritage Month

When you look at the numbers, it’s impossible to minimize the impact of Hispanic-owned businesses on the American economy. From the millions of workers they employ to the billions of dollars they generate, these business leaders and entrepreneurs contribute significantly to the prosperity of the communities in our footprint and across the nation.

Their drive and determination inspire us. And it deserves acknowledgment. So, we’re observing this Hispanic Heritage Month by sharing the unique perspectives of Hispanic business owners and the bankers who advise them.

By highlighting their hopes, obstacles, and successes, we hope to reinforce a culture of understanding and inclusion across the communities we serve.

As we prepared for Hispanic Heritage Month, it was important to connect with team members who support our efforts on the ground, as they have a direct line of vision into the unique circumstances that Hispanic individuals may face when seeking entrepreneurship. We connected with Alexander Noda, Retail Market Manager in Miami, who shared his insight.

Q: What unique challenges does the Hispanic community have when it comes to banking or entrepreneurship ambitions?

A: The Hispanic community faces several unique challenges that arise due to a combination of socio-economic factors, cultural nuances, and systemic barriers. It's important to address these issues with sensitivity and a genuine commitment to inclusivity. The biggest obstacles that Hispanic clients may face are things like:

• Limited access to financial services
• Language barriers
• Credit access and financial literacy
• Cultural differences in financial practices
• Discrimination and bias
• Lack of representation
• Immigration status concerns
• Networking and social capitol

Q: What do you see Synovus doing currently that helps support the Hispanic community?

A: A lot! Starting with our commitment to diversity and inclusion within the organization itself, we develop better listening and learning skills that help us understand what our clients and team members really need.

I think Synovus is great at embracing the strength that comes when we acknowledge what makes us different. We’re regional and our employee composition is diverse and aware of the needs of the Hispanic community. To that end, Synovus offers accessibility when it comes to language. We offer bilingual services, including customer support and documents in both English and Spanish, making our services more accessible to the Hispanic population.

When it comes to financial education, Synovus conducts financial literacy workshops and seminars for the Hispanic community, even leveraging partnerships with programs like Bright Path. Providing educational resources and assistance to help more Hispanic families achieve their dream of homeownership is also part of supporting the Hispanic community. Helping individuals and families make informed financial decisions is part of what we do right every day.

The bank is also deeply involved in the community, supporting community events, sponsorships, and partnerships that directly benefit the Hispanic community on a local level.

Lastly, we’re dedicated to providing entrepreneurial support. Synovus offers resources and financing options to Hispanic entrepreneurs looking to start or grow their businesses, thereby contributing to economic development.

Parting thoughts from Alex:
“It's truly fulfilling to know that at Synovus we are making a positive impact in the Hispanic community. Seeing that our efforts are contributing to the well-being and advancement of individuals within this community is a source of immense pride. We are committed to fostering financial inclusion, providing access to resources, and supporting the aspirations of individuals from diverse backgrounds. Knowing that we support the Hispanic community drives our dedication and reinforces the importance of our mission of helping people get there!”

Aquí Nos: A Place to Champion Each Other

Synovus is a better company because of our Hispanic and Latino team members. Throughout our company, they provide perspective, insight, and valuable leadership. Much of this gets amplified through Aquí Nos, our Hispanic and Latino employee resource group.

Within Aquí Nos, over 13 countries are represented, providing a rich tapestry of culture, and a commitment to outreach within their community. Non-Hispanic and non-Latino team members are also encouraged to join, learn, and engage.

Read more from Aquí Nos members and learn what Hispanic Heritage means to them.