/24-7PressRelease/ - WOODLAND HILLS, CA, January 20, 2007 - Azure Group, Inc. founders and local Los Angeles entrepreneurs Bill Anz and Francisco Martin to open Latin-Focused Federal Savings & Loans Bank.
Bill Anz and Francisco Martin have been working on a banking venture for the last three years. The first step was the successful launch of their Encino based Mortgage Bank "Mortgage Capital Corporation of America". "The idea was to create an infrastructure to originate and fund Mortgage Loans, with the ultimate intent to either merge the operation into a commercial bank or savings and loans institution. The Mortgage Operation offers many benefits to us. We have instant access to all the pertinent information, which allows us to target our clients with more relevant financial products", says Bill Anz.
The new Federal Savings and Loans Bank is set to open by August 2007 as "Banco Unido".
A major change is underway in the relationship between mainstream financial institutions and the U.S. Latino population. U.S. banks spent at least $8.5 billion through 2005 to attract Hispanic customers. Moreover, banks now tie their profit growth to the rapidly expanding Latino population: "Bank of America expects 80 percent of its consumer profit growth to come from Hispanic customers in the next decade.
"Latinos who become banking customers for the first time may gain access to one key element of the "American dream": credit. Through personal loans, credit cards, and home mortgages, previously unbanked Latinos may improve their economic status and begin to accumulate assets", says Francisco Martin.
Banco Unido, FSB (In Formation) has indeed a unique approach. Through Azure Group's investment Advisory Firm "Azure Wealth Management, LLC", the owners understand how to bring financial services to the Latin Community like never before.
"We are strict believers in passive investments (indexing). This method is based on the efficient market theory, which is completely opposite to active investments (stock picking and market timing). We pick sectors and countries by selecting specific indexes; these are highly diversified investment vehicles and allow us to scale this method down to small investment accounts of less than $5,000; something that would be impossible to obtain with an actively managed investment account. This gives the smaller investor the access to sophisticated investment diversification that one would only see open to multimillion dollar portfolios. You can expect Banco Unido to be the universal banker to the Latin Community. From mortgage loans, investments, personal loans to checking and savings accounts - Banco Unido will serve this community to an extend that was only privy to the well-heeled of our society", says Martin.
DISCLOSURE
Banco Unido, FSB (In Formation) has not yet been granted its charter by the OTS. Banco Unido is in formation.
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