M&T Bank is expanding the services it provides to communities with high concentrations of ethnic and racial diversity by newly-designating 18 bank branches in New Jersey as multicultural banking centers.
The centers will offer banking and other financial services in customers’ preferred languages and employ bankers from the branch’s respective neighborhoods who understand the cultural nuances of the individuals and communities they serve. These branches are among the 118 multicultural banking centers the bank maintains throughout its Northeast and mid-Atlantic footprint.
The expansion of M&T’s multicultural banking centers is part of the company’s mission to be culturally fluent for all communities, especially as the region becomes more diverse. New Jersey’s Hispanic/Latino residents make up nearly 21% of the state population, while the Asian population increased almost a third between 2010 and 2020, now reaching 10% according to census data.
“As this nationwide demographic shift accelerates, our multicultural banking initiative will help us meet the changing needs of our communities,” said Tom Comiskey, M&T Bank’s regional president for New Jersey. “With our recent designation of new multicultural banking centers, we are demonstrating our clear intention to be the bank for all communities.”
In New Jersey, M&T will be converting the following branch locations into new multicultural banking centers:
M&T currently operates existing multicultural banking centers at its North Bergen, Fort Lee and Teaneck branches.
“Our community model has always enabled us to develop a deep local understanding of the people and places we serve,” Comiskey said. “With our multicultural banking centers, we’re taking the natural next step – providing a distinctive M&T experience shaped by the preferences and perspectives of the diverse customers who rely on us. This locally customized, empathetic approach will help families and neighborhoods have easy access to credit services – an important priority for us and the communities we serve.”
At these multicultural banking centers, customers will be able to access banking services in multiple languages provided by bilingual employees and through M&T’s translation assistance platform. The centers will also create local opportunities for businesses, nonprofits and community members to attend networking events, financial literacy classes, collaborate on community projects and more.
The new centers build on M&T’s longstanding focus on local needs in its New Jersey communities:
“By providing access to banking services in multiple languages, we’ll open new pathways for our community to achieve financial empowerment,” said Marcela Ramirez, M&T senior retail sales strategy manager. “This designation has led to several actions locally to empower branch staff with new capabilities to serve our neighborhoods. Determined to fulfill our purpose to make a difference in people’s lives, it’s our goal to ensure our neighbors have more opportunities to connect with local bankers who understand their language, their culture and their needs.”
To make its digital banking tools easier to navigate for non-English speakers, the bank recently launched a Spanish-language website — available at mtb.com/es — that provides access to financial information and resources, including educational tools and online branch-appointment setting.
Additionally, M&T updated its ATM network to provide services in Chinese and Korean. At over 1,600 ATMs, customers are now able to complete cash transactions in Chinese, Korean, Spanish and English. M&T also offers phone assistance in 240 languages at 1-800-724-2440.
To access more business news, visit NJB News Now.Related Articles: