Los Angeles entrepreneurs Francisco Martin and Bill Anz set to open new Latin Federal Savings and Loans Bank.

(PRLEAP.COM) Los Angeles based Banco Unido, FSB (In Formation) will serve the Latin community with financial services beyond checking and savings accounts. "We strive to help the Latin population with comprehensive investment and mortgage products to help them achieve their American dream", says Francisco Martin.

"There is this stigma about having a Latin heritage; one automatically pays more for services if you are of Latin origin. It seems absurd, if you take in consideration the tremendous buying power this community has. You would think that service providers would offer competitive pricing and services to grab market share", says Francisco Martin.

Banco Unido (In Formation) is set to open its first branch in North Hollywood (Los Angeles) by August 2007 and is expected to be capitalized with well over $20 Million; an easy task if you consider the institutional money already lining up to invest in this venture.

"We are excited to be one of the pioneers of Latin Banking in the States and will use the current low-competitive environment to our advantage with expected rapid growth. We don’t consider Wells Fargo or Bank of America competition; their infrastructure and personnel is not flexible enough to service the Latin community yet. Try changing course of a cruise ship; it takes some time and adjustment", says Francisco Martin.

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