September 07, 2003

The GE Center for Financial Learning announced the launch of the most comprehensive and objective Spanish-language financial educational website in the U.S., http://www.midinero.com . The announcement was made by George Herrera, President/CEO of the United States Hispanic Chamber of Commerce (USHCC) and a GE Center for Financial Learning Advisory Board member, and Javier Ismodes, GE Financial’s VP of Latino Marketing and Services, at the USHCC’s 24th Annual National Convention & Business Expo.

Midinero.com was developed by GE Financial to promote financial literacy and empower the U.S. Hispanic community on financial matters important to their lives and their families’ security. The Spanish language site offers easy to understand financial information for consumers of all knowledge levels, helping them prepare for major financial life events, such as Owning a Home, Saving for Education, Sudden Financial Changes and Building a Financial Plan. Importantly, Midinero.com does not sell, advertise or promote any specific financial products or services. The site is simply meant to educate and inform consumers on a wide array of financial matters important in their lives.

The GE Center for Financial Learning is led by an unpaid, independent advisory board of 13 leading financial, Internet and educational professionals from across the country. The Board monitors the GE Center’s standards and plans strategic initiatives, upholding the highest standards of excellence for site information. The Board members were selected for their commitment to education, their knowledge of specific financial topics and their unique teaching and mentoring attributes. Along with George Herrera, the Advisory Board includes two prominent Latino professionals: Carolle Jean-Murat, M.D., F.A.C.O.G. and Julie Stav, President of Julie Stav Inc. The three Hispanic Board Members played an important role in the development and evolution of www.midinero.com, bringing their deep knowledge and commitment to empower the U.S. Hispanic community.

“I am especially proud to help officially launch midinero.com during this year’s USHCC Convention, which is dedicated to maximizing performance for economic success,” said Herrera. “The GE Center is a trusted resource for financial education that is now available in the Spanish language to address the needs of the diverse U.S. Hispanic community.”

According to a 2002 study conducted by LIMRA International, Inc., a marketing and research firm, almost 6 in 10 Hispanics say they either have very little or no knowledge about financial services and products, and only 4 of 10 Hispanics have someone to contact for financial advice and information. For many Hispanics, their lower levels of financial knowledge are often due to the difficulties of acquiring this knowledge. Furthermore, many say they do not understand English well, and consequently do not have access to the kind of financial information that is generally available to the public.

“The Hispanic community is quite concerned about saving for retirement, their children’s education costs and caring for their aged parents, among other financial needs and goals,” said Ismodes. “With the launch of midinero.com, we’re responding to these needs by providing an objective and trusted resource in the language of their choice to empower individuals and their families to make informed financial decisions to help achieve their dreams.”

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