What’s in a name? Sometimes not enough. And with just 50% of its customers Hispanic, Banco Popular’s name doesn’t express all it is. Roberto Herencia undertook the challenge of expanding the 111-year-old bank’s mandate to more broadly serve its communities regardless of ethnicity. Herencia and his team started with bank employees, creating a “Got Passion?” campaign. They also initiated community-outreach programs. And of course, “we needed to talk to the people,” Herencia says. Town-hall meetings provided opportunities to interact with customers and learn from them. The payoff: After a six-week new-account drive this past fall, Herencia was delighted to sign up 15,000 new customers. Now 2005 brings even more ambitious goals of increasing revenue from $60 million to $100 million and upping Small Business Administration loans from $200 million to $300 million.
2005 FAST 50 WINNER
Roberto Herencia, 46
Banco Popular North America
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