Page 14 - Synchrony US Hispanic Market Playbook
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FINANCIAL SERVICES & INVESTING
The highest indexing financial service for Hispanic HHLDs was the personal loan at 7%
above average. As illustrated in the chart above, Hispanic HHLDs index lower than non-
Hispanics for all other financial services reported in the survey. When looking at
investments, we see that 33% of Hispanic HHLDs have a 401K, making this the most
used investment vehicle among Hispanic HHLDs, followed by an IRA plan at 19%.
When looking at professional services used in the past 12 months, Hispanic HHLDs are
24% more likely to use wire transfer. We also see that 23% of Hispanic HHLDs use a tax
preparation service.
Source: 2019 FDIC Survey of Household Use of Banking and Financial Services.
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