  SHOOT COYOTES HERE! THE GOOD THE BAD & THE UGLY |
Posted on 07/17/2005 7:03:14 PM PDT by Happy2BMe
High Desert banks tap illegal immigrant market
VICTORVILLE -- National and local banks have found in their quest to attract more customers that catering to illegal immigrants can significantly increase traffic and business.
A widely ignored group for many years, illegal immigrants have become a force within the nation's economy, according to the Pew Hispanic Center, a nonpartisan research center based in Washington, D.C.
Research by the center shows that of the 13.9 million illegal immigrants living in the United States, 6.3 million of them were employed as of March 2004.
A recent study by Inter-American Dialogue revealed that consumer remittances to Mexico exceeded $14 billion in 2003, surpassing foreign direct investment in Mexico.
The global remittance market is estimated at $110 billion, with remittances to Central America accounting for more than $10 billion, the study indicated.
Based on the number of illegal immigrants living in the Victor Valley, local banks have started accepting documents such as Mexican passports and the controversial matricula consular, an identification that many illegals seek to acquire because California identifications are reserved for those with legal permission to be in the country.
In the Victor Valley, banks such as Wells Fargo, Bank of America, Desert Community Bank and The Members Own Federal Credit Union have for a while catered to the immigrant community by accepting the matricula consular as a valid document to open an account.
"We cater to everybody. The only color we understand here is the color of green," Desert Community Bank President Ron Wilson said.
Wells Fargo spokeswoman Marie Trigg said that since accepting the matricula consular -- in November 2001 -- 525,000 people have acquired accounts nationwide with the financial institution.
"It's driving up accounts and business for us, that's for sure. The institution is working to keep on providing services that will mold this group's lifestyle," Trigg said.
In addition to having bank representatives who speak Spanish, the four financial institutions have facilitated ways for clients to wire money to their home countries. They also have facilitated loans and mortgage programs.
"Loans are facilitated to those people who can provide us a Social Security number or a taxpayer identification number," Trigg said. "Some people who are undocumented don't have access to Social Security numbers, but if they pay taxes they can get a taxpayer identification number."
Carlos is an illegal immigrant who lives in the High Desert. His last name is not used because he fears prosecution or deportation. For years, Carlos used remittance services, such as Western Union, to send money to his family in Jalisco, Mexico. After learning about banks that accepted the matricula consular, Carlos was able to open an account with a local bank.
"With a bank account I can send money to my family for less (cost) than charged by remittance services," Carlos said.
State Sen. George Runner, R-Lancaster, said allowing illegal immigrants to use what he classified as a nonsecure document to establish their identity could be a problem.
"I think this is a symptom of a bigger problem and that is the fact that people who are here illegally are able work to the point where they will need a bank account," Runner said.
The Mexican consul for Riverside and San Bernardino Counties, Carlos Giralt-Cabrales, denied that the matricula consular is a nonsecure document and said that just because somebody has this document does not automatically determine their legal status.
"The matricula consular is a very safe document that is issued under very strict guidelines. We believe that the work of immigrants benefits the economy of this country, and banks are recognizing that fact," he said.
Carlos, who sends around $300 every two weeks, said that opening a bank account in this country has made his life easier.
He said he would soon like to take advantage of a mortgage loan.
"I've been looking at buying a little house here," Carlos said. "This may be the best time to buy, since home prices are going up.
"This is part of my American dream, and I am close to getting it."
Keep an eye on monetary issues - especially where banking between the U.S., Canada, and Mexico are concerned.
Speaking of "internationalists," have you seen THIS?
The law doesn't matter anymore in the Banana Republic of Amixica, if you are an illegal alien, or if you employ or slumlord for them.
Unfortunately, by the time the majority of Americans realize their government has designed and implemented a system removing their constitutional rights as Americans and replacing them with a new North American constitution, more severe reactions will reverberate throughout the four corners of the United States.
I think the idea is to merge Mexico with America via the immivation until Americans are faced with a virtual fait accompli, and quit the fight as a lost cause.
I haven't. Thanks for putting the link up.
Private property ownership is up for grabs - so is the United States' traditional interpretation of what private property includes.
People won't go easily.
The supremes have just wiped this out!!!
Another step on the road to CW2.
"...the Pew Hispanic Center, a nonpartisan research center..."
A rediculous statement. No one is more partisan than Pew.
A more precise word usage would be: "The Pew Hispanic Advocacy, a partisan propaganda machine."
Let's call a spade a sapde.
"...filing a tax return is in the Mexicans' best interest..."
No it's not, because it's the same as gun registration - you're registered.
That's why so few of them do that. They're smarter than you think they are. Many are very smart. They just don't have any morals.
""We cater to everybody. The only color we understand here is the color of green," Desert Community Bank President Ron Wilson said."
May you rot in hell.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.